5610 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60637- Washington Park
$800,000 USD
815-341-0049
5610 S Michigan Ave, Chicago, IL for Sale
$800,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

5610 S Michigan Ave
Chicago, IL 60637
Washington Park


HIGHLIGHTS

  • Strong unit mix consisting of oversized (6) four-bedroom units and (1) two-bedroom unit.
  • Attractive vintage architecture with stone façade and marble entryway.
  • Individual furnaces.
  • Opportunity to increase NOI through operational efficiencies and future rent growth.
  • Laundry facilities on-site.
  • Located near the University of Chicago, Hyde Park, and the Museum of Science and Industry.

OVERVIEW

Essex Realty Group, LLC has been exclusively engaged to market for sale a 7-unit multifamily property located at 5610 S. Michigan Avenue in Chicago’s Washington Park neighborhood. The well-maintained vintage walk-up consists of spacious (6) four-bedroom units and (1) two-bedroom unit featuring hardwood floors, high ceilings, abundant natural light, individual furnaces, and open living/kitchen layouts. The property also features a stone façade, marble entryway, updated plumbing and electrical systems, and on-site laundry facilities. The property is currently 86% occupied and offers investors strong in-place income with clear operational and leasing upside. Additional value can be created through leasing the vacant unit, improving operational efficiencies, and capturing future rental growth as units turn over. Located near Hyde Park, the University of Chicago, and the Museum of Science and Industry, the property benefits from strong rental demand and continued neighborhood investment, offering investors stable cash flow with long-term appreciation potential.

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$80 USD /SF

# OF UNITS

7

PRICE/UNIT

$114,286

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1895

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

R2

APN/PARCEL ID

20-15-108-027-0000

ASK ABOUT THIS PROPERTY

Joe KahlhammerEssex Realty Group, LLCMore Info
815-341-0049

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Joe KahlhammerEssex Realty Group, LLCMore Info
815-341-0049

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