5651-5659 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60637- Washington Park
$1,650,000 USD
312-896-1841
5651-5659 S Michigan Ave, Chicago, IL for Sale
$1,650,000 USD
Apartments - FOR SALE
1/10
null | 9.8% Cap Rate

5651-5659 S Michigan Ave
Chicago, IL 60637
Washington Park


HIGHLIGHTS

  • Located in Chicago’s Washington Park neighborhood.
  • Prominent location along South Michigan Avenue.
  • Convenient access to E 55th Street, I-90, and I-94 expressways.
  • Close proximity to Washington Park and surrounding neighborhood amenities.

OVERVIEW

5651–5659 S Michigan Avenue is an 18-unit, value-add multifamily investment opportunity located in Chicago’s Washington Park neighborhood. The property consists of a three-story, early-1900s apartment building situated along the Michigan Avenue corridor and is positioned within both an Opportunity Zone and Enterprise Zone, offering potential long-term investment advantages. The building features a diverse unit mix, including primarily one-bedroom units complemented by larger two- and four-bedroom layouts, providing flexibility for a range of tenant profiles. The property benefits from strong regional connectivity, with close proximity to E 55th Street and convenient access to I-90 and I-94, as well as nearby retail and neighborhood amenities

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$119 USD /SF

# OF UNITS

18

PRICE/UNIT

$91,667

CAP RATE

9.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1903

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,107 SF

ZONING

R5, Chicago

APN/PARCEL ID

20-15-109-043-0000

ASK ABOUT THIS PROPERTY

Alen LedicPrime Mgt Realty LLCMore Info
312-896-1841

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Alen LedicPrime Mgt Realty LLCMore Info
312-896-1841

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