11027-11035 S King Dr - Apartments FOR SALE


Chicago, IL 60628- Roseland
$2,600,000 USD
773-615-2626
11027-11035 S King Dr, Chicago, IL for Sale
$2,600,000 USD
Apartments - FOR SALE
1/7
null | 4.25% Cap Rate

11027-11035 S King Dr
Chicago, IL 60628
Roseland


HIGHLIGHTS

  • Two-building, single-parcel property operated under one tax bill and insurance policy.
  • 27-unit mix including 13 three-bedroom layouts in a vintage brick structure.
  • 10 recently renovated units supporting immediate rental growth potential.
  • Walking distance (0.2 miles) to Metra commuter rail with direct downtown access.
  • Location minutes from Pullman National Historical Park, I-94, and I-57.
  • Stabilized NOI of $221,675 with a projected 8.53% cap rate.

OVERVIEW

This two-building, single-parcel multifamily asset located in Chicago’s Roseland neighborhood represents an attractive investment opportunity delivering both stability and upside. The property consists of 27 residential units in a classic four-story walk-up design, offering a mix of studios, one-bedroom, and three-bedroom layouts across 25,000 square feet of vintage brick construction. Current occupancy stands at 100%, with 10 units recently renovated, ensuring immediate cash flow and reduced near-term capital expenditure needs. With an in-place gross scheduled income of $466,824 and an asking price of $2,600,000, the property reflects a compelling basis relative to comparable Roseland trades. Investors benefit from a stabilized pro forma NOI of $221,675, representing an 8.53% cap rate at stabilization and a post-improvement rent upside of approximately 21%, driven by market-average rents for similar product. The asset’s location offers excellent commuter access, just 0.2 miles from the Pullman/111th Street Metra station and in proximity to I-94 and I-57. Additionally, residents enjoy convenient access to nearby retail corridors, Pullman National Historical Park, and the Lake Michigan shoreline. This combination of cash-flow stability, operational efficiencies from a single tax and insurance structure, and significant rent growth potential positions the property as a strong cash-on-cash performer in a market with a 3.6% vacancy rate.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$104 USD /SF

# OF UNITS

27

PRICE/UNIT

$96,296

CAP RATE

4.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,032 SF

ZONING

RT-4, Chicago

APN/PARCEL ID

25-15-414-008-0000

ASK ABOUT THIS PROPERTY

Brian Mond33 RealtyMore Info
773-615-2626

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Brian Mond33 RealtyMore Info
773-615-2626

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