400 E 66th St - Apartments FOR SALE


Chicago, IL 60637- Park Manor
$2,250,000 USD
312-925-7938
400 E 66th St, Chicago, IL for Sale
$2,250,000 USD
Apartments - FOR SALE
1/38
null | Request Cap Rate

400 E 66th St
Chicago, IL 60637
Park Manor


OVERVIEW

Take this opportunity to own a solid brick, 24 unit walk-up apartment building with a very desirable unit mix of all 2bed/1bath units. This property is located in the W. Woodlawn area, and was gutted down to the bricks and completely renovated just a few years ago. In addition to a new roof, new copper plumbing, new electrical, and new gas lines for the building, every unit was rehabbed with hardwood floors, new walls, new kitchens and bathrooms, new windows, in- unit circuit breakers, and individual gas forced air furnaces. There are four separate entrances - one on S. King Drive and the other three on 66th St. - and each one has exposed brick walls and a skylight that floods each entrance and stairway with an abundance of natural light. There are four separate basement entrances accessible through the rear courtyard, and one of these basements has a laundry area with 2 washers and 2 dryers available for tenant use. The Woodlawn area has seen tremendous change over the past few years, with the soon to be completed Obama Presidential Library (2 miles east of this property) driving change in E. Woodlawn, and other developments bringing change to the rest of the community. Just across 66th street from the 3 entrances to this property, the Rev. Corey Brooks and his Project H.O.O.D. are building the new 85,000 sq. ft. Robert R. McCormick Leadership and Economic Opportunity Center. This new community center will teach trades, entrepreneurship, music, and arts. It will also house a swimming pool and have other athletic facilities. There is easily accessible public transportation serving this area, with the CTA green line (light rail line) stop located 2 blocks north of the property and the CTA #3 bus line running north and south down King Drive - with a stop just outside the 6553 entrance to the building.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$125 USD /SF

# OF UNITS

24

PRICE/UNIT

$93,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

6553 South King

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1908

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

C1-2

APN/PARCEL ID

20-22-216-017-0000

ASK ABOUT THIS PROPERTY

David McLennanPearson Realty GroupMore Info
312-925-7938

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David McLennanPearson Realty GroupMore Info
312-925-7938

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