3500 S Artesian Ave - Apartments FOR SALE


Chicago, IL 60632- Brighton Park
$3,250,000 USD
773-293-5086
3500 S Artesian Ave, Chicago, IL for Sale
$3,250,000 USD
Apartments - FOR SALE
1/5
null | 6.01% Cap Rate

3500 S Artesian Ave
Chicago, IL 60632
Brighton Park


HIGHLIGHTS

  • Desirable Unit Mix - Twenty One (21) 2Bd/1Ba Units
  • New Windows, Updated Roof, & 100% Copper Plumbing
  • Spacious Units w/ Modern Kitchens & Baths
  • Economies of Scale in the Supply-Constrained McKinnley Park Neighborhood
  • All Individual Furnaces & Water Heaters - Four (4) Units w/ AC

OVERVIEW

Kiser Group is pleased to exclusively present for purchase 3500 S. Artesian Ave., a 21-unit multifamily property located in Chicago’s McKinley Park neighborhood. The property offers residents convenient access to nearby public transportation, major thoroughfares, neighborhood retail, restaurants, and everyday amenities. Its location provides strong connectivity throughout the city while benefiting from McKinley Park’s established residential character and proximity to the neighborhood’s namesake park. The property is comprised of twenty-one (21) two bedroom units, with the majority of units having undergone renovations featuring modern kitchens and bathrooms, granite countertops, and updated finishes. Capital improvements to the property include copper plumbing, newer windows throughout much of the building, a newer roof, updated hot water tanks, and individual furnaces. The property also features a three-car garage, providing additional convenience and potential income for ownership. 3500 S. Artesian currently generates $195,280 in NOI, representing a 6.01% in-place cap rate and 1.87% cash return. Through continued rental growth and operational improvements, the property is projected to achieve $285,569 in pro forma NOI, an 8.79% pro forma cap rate, and a 12.98% pro forma cash return, providing investors with meaningful upside and the opportunity to enhance overall returns.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$163 USD /SF

# OF UNITS

21

PRICE/UNIT

$154,762

CAP RATE

6.01%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1909

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,079 SF

ZONING

RS-3

APN/PARCEL ID

16-36-406-001-0000

ASK ABOUT THIS PROPERTY

Jack PetrandoKiser GroupMore Info
773-293-5086

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Jack PetrandoKiser GroupMore Info
773-293-5086

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