6601 S Ingleside Ave - Apartments FOR SALE


Chicago, IL 60637- Woodlawn
$2,000,000 USD
248-977-0226
6601 S Ingleside Ave, Chicago, IL for Sale
$2,000,000 USD
Apartments - FOR SALE
1/4
null | 8.48% Cap Rate

6601 S Ingleside Ave
Chicago, IL 60637
Woodlawn


HIGHLIGHTS

  • Highly desirable unit mix: 2 BD/1 BA, 2 BD/2 BA, 3 BD/1 BA layouts
  • Prime East Woodlawn location
  • All units feature newly renovated kitchens, bathrooms, and hardwood flooring
  • All units feature individual furnaces and individual hot water tanks
  • Income generating rooftop antenna currently in year 2 of initial 10 year term
  • Ability to assume sellers existing mortgage (5.62% Interest Rate/$969,654 balance/2047 maturity)

OVERVIEW

Interra Realty, LLC has been exclusively engaged to market 6601 S. Ingleside Ave. for sale. The subject property is a recently renovated walk-up style apartment building located in Chicago's East Woodlawn neighborhood consisting of 12 apartments units and an income generating rooftop antenna. The building is comprised of a mixture of 2Bdr and 3Bdr layouts, some of which have two full bathrooms. The rooftop antenna lease is currently in year three (3) of its initial ten (10) year term, with an additional seventeen (17) extension extension options of five (5) year terms, all with 2% annual escalations. The property presents qualified investors with an option to assume the sellers existing mortgage. The terms of the existing mortgage are an approximate balance of $969,654, 5.62% interest and 01/01//2047 maturity.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$121 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,667

CAP RATE

8.48%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1916

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,971 SF

ZONING

-

APN/PARCEL ID

20-23-123-001-0000

ASK ABOUT THIS PROPERTY

Max GrossmanInterra RealtyMore Info
248-977-0226

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Max GrossmanInterra RealtyMore Info
248-977-0226

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