1528 S Wabash Ave - Apartments FOR SALE


Chicago, IL 60605- South Loop
$14,990,000 USD
312-414-1255
1528 S Wabash Ave, Chicago, IL for Sale
$14,990,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

1528 S Wabash Ave
Chicago, IL 60605
South Loop


HIGHLIGHTS

  • Prime location, steps from the 78 mega-development and the proposed red line station
  • Close proximity to CTA and Metra stations
  • Great building w/ no deferred maintenance and room to add value
  • Easy access to I-90/94, I-55 and Lake Shore Drive

OVERVIEW

Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in Imperial Loft Condominiums (the “Property”), a 50-unit residential condominium building prominently located in Chicago’s booming South Loop neighborhood. The ±61,000 square foot, six-story condominium property is situated upon ± 16,380 square feet of land with 100 feet of frontage along Wabash Avenue. The Property’s first floor consists of one (1) retail tenants totaling ±2,500 square feet, and the second to sixth floors includes 10 condominium units, each with a unit mix of thirty 1 bed/ 1 bath, fifteen 2 bed/ 1 bath and five 2 bed/ 2 bath. The remainder of the ground level and basement are dedicated for interior heated parking. The building also owns the adjacent land to the north and uses it for exterior parking and access to the garage. Located immediately south of the Chicago CBD ‘Loop’, the South Loop neighborhood is a thriving residential neighborhood with direct access to Lake Michigan and Museum Campus. The neighborhood also enjoys excellent access to public transit through the Roosevelt CTA station- home to the Red, Orange and Green lines-, Cermak- McCormick Place CTA station, 18th Street Metra Station and over 10 CTA bus lines running primarily on Michigan Ave and State Street.

FOR SALE DETAILS

PRICE

$14,990,000 USD

PRICE/SF

$244 USD /SF

# OF UNITS

50

PRICE/UNIT

$299,800

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1904

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,381 SF

ZONING

DX-7

APN/PARCEL ID

17-22-106-090-1046

ASK ABOUT THIS PROPERTY

Malek AbdulsamadGreenstone PartnersMore Info
312-414-1255

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Malek AbdulsamadGreenstone PartnersMore Info
312-414-1255

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.