4201-4209 S Michigan Ave
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4201-4209 S Michigan Ave
21 Unit Apartment Building $4,475,000 ($213,095/Unit) Chicago, IL 60653
Investment Highlights
- Interest Rate: 4.95% Maturity Date: 04/01/2029
- Current Principal Balance: $3,442,000.00
- Debt Service Coverage Ratio (DSCR) 1.38
- Original Loan Amount: $3,771,000.00
- Cash on Cash: (COC) 7.8%
- Loan To Value (LTV) 77%
Executive Summary
SVN is pleased to present a 21-unit renovated Multifamily building located in Bronzeville. The unit mix consists of (15) 2 Bed 2 Bath units and (6) 3 Bed 2 Bath Duplex units. All units have been updated with newer kitchen and baths. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of newer electrical service, newer in-unit furnaces and water tanks, newer roof and newer windows.
Property Facts
| Price | $4,475,000 | Building Class | C |
| Price Per Unit | $213,095 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 12,000 SF |
| No. Units | 21 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1894/2006 |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Price | $4,475,000 |
| Price Per Unit | $213,095 |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1894/2006 |
| Opportunity Zone |
Yes |
Unit Amenities
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 1,164 |
| 2+2 | 12 | - | 1,460 |
| 2+2.5 | 1 | - | 1,460 |
| 3+2 | 3 | - | 2,100 |
| 3+2.5 | 1 | - | 2,100 |
| 3+3 | 3 | - | 2,100 |
Transit Score ®
Excellent Transit (70)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 20-03-120-033-0000 | Improvements Assessment | $247,124 |
| Land Assessment | $56,277 | Total Assessment | $303,401 |
PROPERTY TAXES
Parcel Number
20-03-120-033-0000
Land Assessment
$56,277
Improvements Assessment
$247,124
Total Assessment
$303,401
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4201-4209 S Michigan Ave
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