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9710 S Avenue L Ave
9710 S Avenue L Ave
Chicago, IL 60617
About
Property originally listed for sale on the marketplace by James Williams with Mainstreet Real Estate Service.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 5/15/2025:
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance (-$1,770) is below half full.
Owners voted to apply 100% of the cash flow until the reserve is half full ($11,213) and apply 50% of cash flow to replenish the reserve until it's full ($22,425).
Based on the projected monthly cash flow ($2,595) if all three units are leased, it will take ~5.0 months for the reserve to be half full and an additional ~8.6 months for the reserve to be full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
3-Unit property (Triplex) located in Chicago, Illinois.
Details
- Fully renovated in 2021
- Seller spent $255k on renovations. See all renovations here
- Renovations include new electric, plumbing, hot water tanks, roof, porches, individual furnaces, and more
- Consists of two 4-Bedroom, 2-Bath apartments and one 3-Bedroom, 1-Bath apartment
- Three-car striped parking slab located directly behind property
- The maintenance reserve has been increased from 5% to 7.5% to account for repair costs due to Chicago Housing Authority (CHA) compliance inspections
Property Management and Insurance
- Managed by Urban REI
- Insurance Policy through Obie Insurance
Occupancy Status
- Unit 1 (3br/1ba)
- Month-to-month lease starting on 06/06/2022
- $1,808/month
- Tenant receives rental assistance from the Chicago Housing Authority (CHA). CHA portion of rent is $1,347 and tenant portion is $461.
- Tenant was previously on a 1 year lease ending on 06/06/2022 at $1,940/month
- Lease Agreement
- Housing Assistance Payment Contract
- Unit 2 (4br/2ba)
- Vacant
- Housing Authority processing paperwork
- Unit 3 (4br/1ba)
- Vacant
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Broker's Price Opinion (BPO)
- Inspection Report
- Inspection Report Repairs
- Renovations and Updates
- Purchase Agreement
- Operating Agreement
- Closing Statement
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Chicago, IL
Chicago is the Midwest’s largest economic hub, with major employers in finance, healthcare, logistics, and tech. The CTA’s rail and bus network connects neighborhoods to downtown jobs, and the lakefront trail, parks, and world-class dining and culture make the city a draw for residents. Many South Side neighborhoods offer homeownership at a fraction of downtown prices, and a large renter population keeps demand for quality rental homes steady.
Property Updates
Governance Results for 9710 S Avenue L Ave:
The Governance Voting results are back for the vote to authorize Lofty to sign on behalf of the DAO for the property closing.
The winning vote is:
Yes
This voting option received 4,746/4,746 of the total votes, which is equal to 100% of the total votes.
The voting results can be found on chain here or by searching the application ID: 2997535071
An update will be provided shortly regarding the property closing.
Investor Reviews
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Share price
9710 S Avenue L Ave
Chicago, IL 60617
About
Property originally listed for sale on the marketplace by James Williams with Mainstreet Real Estate Service.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Updated as of 5/15/2025:
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance (-$1,770) is below half full.
Owners voted to apply 100% of the cash flow until the reserve is half full ($11,213) and apply 50% of cash flow to replenish the reserve until it's full ($22,425).
Based on the projected monthly cash flow ($2,595) if all three units are leased, it will take ~5.0 months for the reserve to be half full and an additional ~8.6 months for the reserve to be full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
3-Unit property (Triplex) located in Chicago, Illinois.
Details
- Fully renovated in 2021
- Seller spent $255k on renovations. See all renovations here
- Renovations include new electric, plumbing, hot water tanks, roof, porches, individual furnaces, and more
- Consists of two 4-Bedroom, 2-Bath apartments and one 3-Bedroom, 1-Bath apartment
- Three-car striped parking slab located directly behind property
- The maintenance reserve has been increased from 5% to 7.5% to account for repair costs due to Chicago Housing Authority (CHA) compliance inspections
Property Management and Insurance
- Managed by Urban REI
- Insurance Policy through Obie Insurance
Occupancy Status
- Unit 1 (3br/1ba)
- Month-to-month lease starting on 06/06/2022
- $1,808/month
- Tenant receives rental assistance from the Chicago Housing Authority (CHA). CHA portion of rent is $1,347 and tenant portion is $461.
- Tenant was previously on a 1 year lease ending on 06/06/2022 at $1,940/month
- Lease Agreement
- Housing Assistance Payment Contract
- Unit 2 (4br/2ba)
- Vacant
- Housing Authority processing paperwork
- Unit 3 (4br/1ba)
- Vacant
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Broker's Price Opinion (BPO)
- Inspection Report
- Inspection Report Repairs
- Renovations and Updates
- Purchase Agreement
- Operating Agreement
- Closing Statement
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Chicago, IL
Chicago is the Midwest’s largest economic hub, with major employers in finance, healthcare, logistics, and tech. The CTA’s rail and bus network connects neighborhoods to downtown jobs, and the lakefront trail, parks, and world-class dining and culture make the city a draw for residents. Many South Side neighborhoods offer homeownership at a fraction of downtown prices, and a large renter population keeps demand for quality rental homes steady.
Property Updates
Governance Results for 9710 S Avenue L Ave:
The Governance Voting results are back for the vote to authorize Lofty to sign on behalf of the DAO for the property closing.
The winning vote is:
Yes
This voting option received 4,746/4,746 of the total votes, which is equal to 100% of the total votes.
The voting results can be found on chain here or by searching the application ID: 2997535071
An update will be provided shortly regarding the property closing.
Investor Reviews
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$2,060
Monthly Rent
$2,872
Monthly Expenses
-$812
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.