4612-4626 S Lake Park Ave - Apartments FOR SALE


Chicago, IL 60653- Kenwood
$11,750,000 USD
312-477-0197
4612-4626 S Lake Park Ave, Chicago, IL for Sale
$11,750,000 USD
Apartments - FOR SALE
1/12
null | 6.94% Cap Rate

4612-4626 S Lake Park Ave
Chicago, IL 60653
Kenwood


HIGHLIGHTS

  • Full Gut Renovation Completed in 2018
  • Large Units and Market Leading Finishes
  • 100% Occupied by CHA Housing Choice Voucher Tenants
  • Adjacent To Abundant Retail, Public Transportation, Chicago Lakefront
  • Classic Chicago Courtyard

OVERVIEW

Interra Realty has been exclusively engaged to market 4612 S. Lake Park Avenue for sale. Located in Chicago's historic Kenwood neighborhood, the subject investment property is comprised of 48 apartments. The property is a sprawling courtyard style apartment building with high curb appeal and attractive architecture. In addition, the property abuts Lake Park Pointe Shopping Center, The 47th Street Metra Train Station and is walking distance to the University of Chicago, the 53rd street retail corridor and Morgan Point Beach. Fully gut rehabbed in 2018, the unit mix at the property is comprised of two and three bedroom apartments, all with identical finishes. All apartments feature a modern aesthetic with stainless steel appliances, dishwashers and in-unit stackable washers and dryers. All units feature individual individual HVAC and hot water storage tanks as well. The property presents qualified investors with a unique opportunity to own a stabilized, recently gut rehabbed apartment building while gaining immediate scale in a submarket currently experiencing substantial growth. The property is being o?ered free and clear of existing debt.

FOR SALE DETAILS

PRICE

$11,750,000 USD

PRICE/SF

$214 USD /SF

# OF UNITS

48

PRICE/UNIT

$244,792

CAP RATE

6.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

R-5

APN/PARCEL ID

20-02-403-029-0000

ASK ABOUT THIS PROPERTY

Lucas FrymanInterra RealtyMore Info
312-477-0197

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Lucas FrymanInterra RealtyMore Info
312-477-0197

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