4723-4725 S Vincennes Ave - Apartments FOR SALE


Chicago, IL 60615- Bronzeville | 
$1,125,000 USD
630-485-8685
4723-4725 S Vincennes Ave, Chicago, IL for Sale
$1,125,000 USD
Apartments - FOR SALE
1/12
null | 6.33% Cap Rate

4723-4725 S Vincennes Ave
Chicago, IL 60615
Bronzeville


HIGHLIGHTS

  • Premier Bronzeville Location
  • Six-Unit Multifamily Asset + Non-Conforming Garden Unit
  • Exceptionally Large Apartment Layouts
  • Significant Rental Upside
  • Potential Condominium Conversion

OVERVIEW

Essex is pleased to present 4723–25 S. Vincennes Avenue, a six-unit plus one nonconforming multifamily investment opportunity located in the heart of Bronzeville, one of Chicago’s most historic and rapidly evolving neighborhoods. Comprised of exceptionally large apartment layouts, the property features three 2-bedroom/1- bathroom units, three 3-bedroom + den/1-bathroom units, and one non-conforming garden unit consisting of a 2-bedroom/1-bathroom apartment. The asset presents a compelling value-add opportunity through interior renovations and strategic unit reconfiguration. Given the substantial unit sizes, investors have the ability to modernize the apartments while potentially adding additional bathrooms and creating more desirable 3-bedroom/2-bathroom layouts. Beyond the in-place rental upside, investors have multiple opportunities to further enhance value, including the potential to reconfigure the three oversized units, add additional bathrooms, and pursue a potential condominium conversion, subject to applicable zoning, approvals, and city requirements. The property also includes a non-conforming garden apartment that is currently leased and provides additional rental income. Combining below-market rents, substantial apartment layouts, and multiple value-add strategies, 4723–25 S. Vincennes Avenue presents an attractive opportunity to increase rental income and enhance the overall value of the asset in one of Chicago’s established South Side neighborhoods.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

6

PRICE/UNIT

$187,500

CAP RATE

6.33%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,001 SF

ZONING

RM-5

APN/PARCEL ID

20-10-201-003-0000

ASK ABOUT THIS PROPERTY

Quinn EvansEssex 312, LLCMore Info
630-485-8685

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Quinn EvansEssex 312, LLCMore Info
630-485-8685

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