5720 S Michigan Ave | Chicago, IL 60637
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5720 S Michigan Ave
Chicago, IL 60637
Multifamily Property For Sale · 6 Units
Investment Highlights
- Completely renovated.
Executive Summary
Kiser Group is pleased to exclusively oer for purchase 5720 S. Michigan, a recently gut renovated six (6) unit building located in the Washington Park neighborhood of Chicago’s South Side. Sitting just blocks from Washington Park and bordering the prestigious Hyde Park community, the asset also sits just four (4) blocks away from the CTA Green Line ‘El Station,’ providing tenants easy, aordable, and quick transportation to and from Chicago’s Downtown.
5720 S. Michigan is has an incredibly desirable unit mix comprised of ve (5) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. Units feature hardwood oors, new kitchens with stainless steel appliances and granite countertops, modern bathrooms with ceramic tile, and an abundance of natural light. Additionally, the building underwent a complete gut renovation in 2020, including, but not limited to, new electric service &
wiring, copper plumbing, new porches, and individual HVAC units.
5720 S. Michigan provides an incredibly rare opportunity for an investor to acquire a true turn key investment in one of Chicago’s most appreciating neighborhoods just outside of Hyde Park. From day one, a new investor will capitalize on an incredibly strong tenant base with an in place cap rate exceeding 7% with an abundance of value add opportunities. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to further increase returns.
5720 S. Michigan is has an incredibly desirable unit mix comprised of ve (5) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. Units feature hardwood oors, new kitchens with stainless steel appliances and granite countertops, modern bathrooms with ceramic tile, and an abundance of natural light. Additionally, the building underwent a complete gut renovation in 2020, including, but not limited to, new electric service &
wiring, copper plumbing, new porches, and individual HVAC units.
5720 S. Michigan provides an incredibly rare opportunity for an investor to acquire a true turn key investment in one of Chicago’s most appreciating neighborhoods just outside of Hyde Park. From day one, a new investor will capitalize on an incredibly strong tenant base with an in place cap rate exceeding 7% with an abundance of value add opportunities. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to further increase returns.
PROPERTY FACTS
| Price Per Unit | $181,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.23% | Building Size | 7,000 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1906 |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price Per Unit | $181,667 |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1906 |
| Opportunity Zone |
Yes |
Unit Amenities
- Tile Floors
- Kitchen
- Granite Countertops
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+1 | 5 | - | - |
PROPERTY TAXES
| Parcel Number | 20-15-114-018-0000 | Improvements Assessment | $67,589 |
| Land Assessment | $27,612 | Total Assessment | $95,201 |
PROPERTY TAXES
Parcel Number
20-15-114-018-0000
Land Assessment
$27,612
Improvements Assessment
$67,589
Total Assessment
$95,201
zoning
| Zoning Code | RM-5 (Medium to high-density apartment buildings.) |
| RM-5 (Medium to high-density apartment buildings.) |
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