3967 S Drexel Blvd - Apartments FOR SALE


Chicago, IL 60653- Bronzeville | 
$2,150,000 USD
773-610-8877
3967 S Drexel Blvd, Chicago, IL for Sale
$2,150,000 USD
Apartments - FOR SALE
1/1
null | 6.58% Cap Rate

3967 S Drexel Blvd
Chicago, IL 60653
Bronzeville


HIGHLIGHTS

  • Fully stabilized five-unit multifamily investment.
  • Located adjacent to Mandrake Park and near the lakefront.
  • Renovated historic greystone with significant architectural character.
  • Existing leases in place with documented operating history.

OVERVIEW

3967 S Drexel Blvd presents a rare opportunity to acquire a fully stabilized multifamily asset in Chicago's historic Oakland neighborhood. The five-unit property occupies a prominent 70-foot frontage along Drexel Boulevard and benefits from a location adjacent to Mandrake Park and within walking distance of Chicago's lakefront. The surrounding area features a mix of established residential properties, historic architecture, and ongoing investment activity throughout the South Side lakefront corridor. Originally constructed in 1900 and extensively renovated, the property features five large residential units with upscale finishes and distinctive architectural character. Building amenities include a passenger elevator serving the residences, private terraces, a formal lobby with custom finishes, landscaped botanical gardens, and a nine-car garage. Interior features reported within the units include hardwood flooring, updated kitchens with quartz countertops and stainless steel appliances, in-unit laundry, modern HVAC systems, and renovated bathrooms. The asset is offered as a stabilized investment with existing leases in place and reported annual income of $213,732 and annual net operating income of $141,525. The combination of historic architecture, substantial capital improvements, on-site parking, elevator service, and proximity to neighborhood amenities creates a differentiated investment opportunity within one of Chicago's established multifamily submarkets.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$268 USD /SF

# OF UNITS

5

PRICE/UNIT

$430,000

CAP RATE

6.58%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,750 SF

ZONING

RM-5

APN/PARCEL ID

20-02-102-004-0000

ASK ABOUT THIS PROPERTY

Karen BiazarThe Biazar GroupMore Info
773-610-8877

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Karen BiazarThe Biazar GroupMore Info
773-610-8877

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