4627 S Drexel Blvd - Apartments FOR SALE


Chicago, IL 60653- Kenwood
$8,675,000 USD
312-477-0197
4627 S Drexel Blvd, Chicago, IL for Sale
$8,675,000 USD
Apartments - FOR SALE
1/13
null | 7.5% Cap Rate

4627 S Drexel Blvd
Chicago, IL 60653
Kenwood


HIGHLIGHTS

  • Enormous Unit Layouts With Condo Quality Finishes
  • Individual HVAC, Laundry, Hot Water Storage Tanks and Dishwashers in All Units
  • 100% Occupied by CHA Housing Choice Voucher Tenants
  • Walking Distance to Abundant Retail, Public Transportation, University of Chicago

OVERVIEW

Interra Realty has been exclusively engaged to market 4625 S. Drexel Boulevard for sale. Located in Chicago's historic Kenwood neighborhood on scenic Drexel Boulevard, the subject investment property is comprised of 35 apartments. The property is a courtyard style apartment building with high curb appeal and attractive architecture. In addition, the property is walking distance to the University of Chicago, the 53rd street retail corridor and the new 120,000 sq ft Northwestern Medicine outpatient care facility. Originally converted into individual condominiums, the current owner reverted the entire property back to apartments. The unit mix at the property is comprised of one, two bedroom and three bedroom apartments, all with identical finishes and enormous floor plans. All apartments feature a modern aesthetic with stainless steel appliances, dishwashers and in-unit stackable washers and dryers. All units feature individual HVAC and Individual Hot Water Tanks. 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.

FOR SALE DETAILS

PRICE

$8,675,000 USD

PRICE/SF

$159 USD /SF

# OF UNITS

35

PRICE/UNIT

$247,857

CAP RATE

7.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1929

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,362 SF

ZONING

RM-5

APN/PARCEL ID

20-02-316-036-0000

ASK ABOUT THIS PROPERTY

Lucas FrymanInterra RealtyMore Info
312-477-0197

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

Lucas FrymanInterra RealtyMore Info
312-477-0197

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