1550 S Indiana Ave - Office/Residential FOR SALE


Chicago, IL 60605- South Loop
$4,500,000 USD
312-805-5626
1550 S Indiana Ave, Chicago, IL for Sale
$4,500,000 USD
Office/Residential - FOR SALE
1/21
null | 9.61% Cap Rate

NEW


1550 S Indiana Ave
Chicago, IL 60605
South Loop


HIGHLIGHTS

  • Short-term - Multifamily Conversion Project
  • Zoned DX-7 + 4.5 FAR Bonus = 11.5 FAR
  • Built in 1880, renovated in 2002

OVERVIEW

Discover an exceptional investment opportunity with this impressive 109,000 SF building featuring 8 units. Built in 1880 and thoughtfully renovated in 2002, this property is zoned DX-7 with a 4.5 FAR Bonus, offering a total 11.5 FAR, and ETOD Parking Benefits. With a solid 77% occupancy, with long-term tenant leases in place, this property holds significant potential for both short-term multifamily conversion projects and mid-term full redevelopment initiatives. In addition, it includes 20 deeded parking spaces, making it an ideal canvas for a variety of investment strategies. Don't miss the chance to explore the endless possibilities this property has to offer for multifamily and high-rise investors.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$44 USD /SF

CAP RATE

9.61%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Penthouse Lofts

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

7

BUILDING CLASS

B

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

DX-7, Chicago

APN/PARCEL ID

17-22-108-081-1019,17-22-108-081-1034,17-22-108-081-1048,17-22-108-081-1049,17-22-108-081-1067

ASK ABOUT THIS PROPERTY

Marco Federow@properties CommercialMore Info
312-805-5626

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Marco Federow@properties CommercialMore Info
312-805-5626

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