312-848-6682
2100-2114 S Indiana Ave, Chicago, IL for Sale
Apartments - FOR SALE
1/29
null | Request Cap Rate

2100-2114 S Indiana Ave
Chicago, IL 60616
South Loop


HIGHLIGHTS

  • Dynamic South Loop Location Across the Street from Wintrust Arena, Marriott Marquis & McCormick Center
  • Loft Style Apartments with Modern Finishes and In-Unit Laundry
  • Large Surface Parking Lot with Attractive As-of-Right Zoning and Potential for Upzoning
  • Retail NNN Leased to Established Local Pizzeria/Bar
  • Assumable Debt @ 3.75% Expiring in February of 2030

OVERVIEW

Interra Realty is pleased to present a market analysis on the Vesta Lofts. The subject investment property is a 60 unit mixed-use property in a booming area of Chicago's South Loop Neighborhood. In addition to the apartment building, there is also 19,373 square feet of land (zoned DX-5) that currently functions as a surface parking lot for the building. Before being converted to loft style apartments, the property was home to the Vesta Battery Company. Today, tenants enjoy high ceilings, large windows, exposed timber beams and brick walls, with high-end modern finishes. All units have individual HVAC and in-unit laundry. Common amenities include a gym, bike room, and common rooftop deck with sweeping city views. Pizano's, a Chicago based pizzeria that has been in business since 1991, anchors the ground floor commercial space. This is one of five Chicagoland locations in addition to another location in Milwaukee, WI. The opportunity offers qualified investors the chance acquire a stabilized apartment building in a high barrier to entry location. There is substantial upside in developing the parking lot as future up-zoning could translate into a number of different development opportunities. The property also has attractive assumable debt at 3.75% through February of 2030.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

59

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vesta Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1913

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,367 SF

ZONING

DX-5, Chicago

APN/PARCEL ID

17-22-319-014-0000,17-22-319-015-0000,17-22-319-016-0000,17-22-319-017-0000,17-22-319-027-0000

ASK ABOUT THIS PROPERTY

Joe SmazalInterra RealtyMore Info
312-848-6682

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Joe SmazalInterra RealtyMore Info
312-848-6682

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