5001 S Michigan Ave - Assisted Livings FOR SALE


Chicago, IL 60615- Bronzeville
$3,550,000 USD
630-550-1515
5001 S Michigan Ave, Chicago, IL for Sale
$3,550,000 USD
Assisted Livings - FOR SALE
1/3
null | Request Cap Rate

5001 S Michigan Ave
Chicago, IL 60615
Bronzeville


HIGHLIGHTS

  • Re-Purpose for Senior Living (Original Use), Multifamily Redevelopment (48 - 56 Units), or Medical Office
  • Strong in-place Mechanicals
  • Strong Location

OVERVIEW

SVN is pleased to present 5001 S Michigan Avenue, located in the desirable Bronzeville market of Chicago's South Side. The building was built in 1976 with the original use of a senior living facility. The property is now vacant and ready for repurpose, such as Senior Living, Medical Office, or multifamily redevelopment. The property has been well maintained and strong condition. Major Capital improvements consist of newer tuckpointing, newer roof, newer elevator, newer windows, and high-quality interior finishes. Heat is provided by multiple Boiler Systems, forced air, and electric baseboards. The building has three electrical rooms (1) basement (2) 4th floor, fire protection system, sprinkler system, and newer water tanks. The building also includes a gated parking lot with roughly 40+ parking spaces.

FOR SALE DETAILS

PRICE

$3,550,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Health Care

PROPERTY SUBTYPE

Assisted Livings

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.74 AC

LAND SF

32,234 SF

ZONING

RM-5

APN/PARCEL ID

20-10-120-001-0000,20-10-120-002-0000,20-10-120-003-0000,20-10-120-004-0000,20-10-120-005-0000,20-10-120-006-0000,20-10-120-007-0000,20-10-120-008-0000

ASK ABOUT THIS PROPERTY

Joe ConnellySVN | Chicago CommercialMore Info
630-550-1515

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Joe ConnellySVN | Chicago CommercialMore Info
630-550-1515

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