4750 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60615
$5,650,000 USD
630-550-1515
4750 S Michigan Ave, Chicago, IL for Sale
$5,650,000 USD
Apartments - FOR SALE
1/11
null | 7.08% Cap Rate

4750 S Michigan Ave
Chicago, IL 60615


HIGHLIGHTS

  • Assumable Fannie Mae Loan - Servicer Greystone
  • Interest Rate: 4.43% Maturity Date: 04/01/2030
  • Original Loan Amount: $4,500,000.00
  • Current Principal Balance: $4,500,000.00
  • Debt Service Coverage Ratio (DSCR) 1.45
  • Loan To Value (LTV) 80%

OVERVIEW

SVN is pleased to present a 24-unit, recently gut-rehabbed multifamily property (2019) located in Bronzeville. The desirable unit mix consists of (2) 1 Bed 1 Bath, (11) 2 Bed 2 Bath units and (11) 3 Bed 3 Bath units. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of new in-unit furnaces and water tanks, new electrical services totaling 3200AMPs, new roof and new windows.

FOR SALE DETAILS

PRICE

$5,650,000 USD

PRICE/SF

$168 USD /SF

# OF UNITS

24

PRICE/UNIT

$235,417

CAP RATE

7.08%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

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

0.41 AC

LAND SF

17,860 SF

ZONING

R-5, Chicago

APN/PARCEL ID

20-10-101-028-0000

ASK ABOUT THIS PROPERTY

Joe ConnellySVN | Chicago CommercialMore Info
630-550-1515

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Joe ConnellySVN | Chicago CommercialMore Info
630-550-1515

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