4950-4958 W Madison St - Apartments FOR SALE


Chicago, IL 60644- Austin
$2,900,000 USD
312-351-1111
4950-4958 W Madison St, Chicago, IL for Sale
$2,900,000 USD
Apartments - FOR SALE
1/10
null | 8.72% Cap Rate

4950-4958 W Madison St
Chicago, IL 60644
Austin


HIGHLIGHTS

  • Single Tenant Master Lease to Strong Non Profit
  • Most Expenses Recoverable or Capped (Owner responsible for Water (Capped at 20K), taxes, and insurance.
  • 3% Annual Rental Increases through 2034
  • Completely renovated in 2020

OVERVIEW

33 Realty proudly presents an outstanding investment opportunity in Chicago's Austin neighborhood! This fully renovated 23-unit apartment complex offers the rare combination of guaranteed long-term income and social impact investing. The property is 100% master leased to the Primo Center, a well-established non-profit organization dedicated to helping Chicago families experiencing homelessness, ensuring stable rental income through 2034! Investment Highlights: ? Guaranteed Annual Income: $338,745 with attractive 3% annual escalations ? Zero Vacancy Risk: 100% occupied through 2034 ? Recently Renovated: Complete property rehabilitation in 2020 ? Diverse Unit Mix for Maximum Utility: • 5 One-Bedroom/One-Bath Units • 6 Two-Bedroom/One-Bath Units • 6 Three-Bedroom/Two-Bath Units • 4 Three-Bedroom/One-Bath Units • 1 Four-Bedroom/Two-Bath Unit • Premium Commercial Space (~3,500 sq ft) This turnkey investment opportunity combines steady cash flow with significant social impact through its partnership with the Primo Center, one of Chicago's leading organizations fighting family homelessness. Don't miss this chance to secure a fully-leased, recently renovated property with guaranteed income growth!

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$103 USD /SF

# OF UNITS

22

PRICE/UNIT

$131,818

CAP RATE

8.72%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

C1-2

APN/PARCEL ID

16-09-427-019-0000

ASK ABOUT THIS PROPERTY

Phillip Gross33 RealtyMore Info
312-351-1111

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Phillip Gross33 RealtyMore Info
312-351-1111

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