4750 S Michigan Ave
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4750 S Michigan Ave
24 Unit Apartment Building $5,650,000 ($235,417/Unit) Chicago, IL 60615
Investment Highlights
- Assumable Fannie Mae Loan - Servicer Greystone
- Original Loan Amount: $4,500,000.00
- Debt Service Coverage Ratio (DSCR) 1.44
- Interest Rate: 4.43% Maturity Date: 04/01/2030
- Current Principal Balance: $4,500,000.00
- Loan To Value (LTV) 80%
Executive Summary
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.
Property Facts
| Price | $5,650,000 | Building Class | C |
| Price Per Unit | $235,417 | Lot Size | 0.41 AC |
| Sale Type | Investment | Building Size | 26,918 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1908 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $5,650,000 |
| Price Per Unit | $235,417 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.41 AC |
| Building Size | 26,918 SF |
| No. Stories | 3 |
| Year Built | 1908 |
| Opportunity Zone |
Yes |
Unit Amenities
- Heating
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Lawn
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 750 |
| 2+1 | 5 | - | 1,000 |
| 3+1 | 7 | - | 1,200 |
| 4+1 | 9 | - | 1,400 |
Walk Score ®
Very Walkable (80)
Transit Score ®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $231,405 | |
| Land Assessment | $110,919 | Total Assessment | $342,324 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$110,919
Improvements Assessment
$231,405
Total Assessment
$342,324
zoning
| Zoning Code | R-5, Chicago |
| R-5, Chicago |
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4750 S Michigan Ave
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