4700 N Racine Ave - Apartments FOR SALE


Chicago, IL 60640- Uptown Chicago
$6,750,000 USD
773-293-5046
4700 N Racine Ave, Chicago, IL for Sale
$6,750,000 USD
Apartments - FOR SALE
1/5
null | 7.63% Cap Rate

4700 N Racine Ave
Chicago, IL 60640
Uptown Chicago


HIGHLIGHTS

  • 48-Unit 2019 Gut Rehab
  • Studio, One, and Two Bedroom Apartments
  • Modernized Unit Finishes - Stainless Steel, Granite Countertops, In-Unit Laundry*
  • Fitness Room and Outdoor Patio
  • 0.2 Miles to Wilson CTA Red Line

OVERVIEW

Kiser Group has been exclusively engaged to market for sale 4700 N. Racine, a boutique 48-unit walk-up building, located in Chicago's Sheridan Park neighborhood. The property is situated steps to Uptown’s thriving Broadway retail corridor and entertainment district, 0.2 miles from the Lawrence CTA Red Line, 0.2 miles to the Wilson Red Line, and only 0.7 miles to the lakefront. Once the former Darlington Hotel, this property shares a rich history with the neighborhood. The 1911-built asset underwent an extensive rehabilitation in 2019, followed by a second phase more recently in 2025. The improved unit mix includes thirty (30) studios, fifteen (15) 1 bed / 1 bath apartments, and three (3) brand new 2 bed / 1 bath duplex units. Apartments feature a modern aesthetic including flat panel cabinetry, quartz counter tops, and stainless steel appliances. On-site amenities include a fitness center, expansive laundry room, backyard/outdoor patio space, and storage lockers, providing renters with modern comfort in a classic Chicago setting. Additionally, there are three exterior parking spaces in the rear of the property. 4700 N. Racine offers investors a rare opportunity to acquire a fully-renovated and amenitized asset with significant day one cash flow.

FOR SALE DETAILS

PRICE

$6,750,000 USD

PRICE/SF

$193 USD /SF

# OF UNITS

48

PRICE/UNIT

$140,625

CAP RATE

7.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Darlington Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

11,014 SF

ZONING

B3-3

APN/PARCEL ID

14-17-105-019-0000

ASK ABOUT THIS PROPERTY

Katie LeGrandKiser GroupMore Info
773-293-5046

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Katie LeGrandKiser GroupMore Info
773-293-5046

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