4501 S Calumet Ave - Apartments FOR SALE


Chicago, IL 60653- Bronzeville
$4,600,000 USD
606-375-5398
4501 S Calumet Ave, Chicago, IL for Sale
$4,600,000 USD
Apartments - FOR SALE
1/7
null | 6.65% Cap Rate

4501 S Calumet Ave
Chicago, IL 60653
Bronzeville


HIGHLIGHTS

  • 90% two and three bedrooms
  • Assumable Loan - 3.94%, 75% LTV
  • Updated Electric (1200 AMPs) and 100% Copper Plumbing
  • Individual Heat and Air

OVERVIEW

CRER is pleased to present 4501 S Calumet, a 20-unit multifamily building located in the south side Chicago neighborhood of Bronzeville. The desirable unit mix includes (10) three-bedroom, (8) two-bedroom, and (2) one-bedroom units with 75% of the units having more than one bathroom. Each unit features spacious layouts with condo-quality finishes, hardwood floors, and in-unit laundry. There is an option to assume the existing loan with a fixed interest rate of 3.94% and LTV of 75% based off list price. The building underwent a stunning renovation in 2020 that leaves no stone unturned. From the façade to the mechanical systems, the entire building has been upgraded, enabling this property to operate at maximum efficiency. This is an opportunity for an investor to acquire a turnkey property in a fast-appreciating neighborhood with 20% upside in the current rents.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

20

PRICE/UNIT

$230,000

CAP RATE

6.65%

% LEASED

95%

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

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,226 SF

ZONING

10

APN/PARCEL ID

20-03-317-001-0000,20-03-317-002-0000

ASK ABOUT THIS PROPERTY

Finley AskinChicago Real Estate ResourcesMore Info
606-375-5398

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Finley AskinChicago Real Estate ResourcesMore Info
606-375-5398

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