5833 N Kenmore Ave - Apartments FOR SALE


Chicago, IL 60660- Edgewater
$8,700,000 USD
773-293-5045
5833 N Kenmore Ave, Chicago, IL for Sale
$8,700,000 USD
Apartments - FOR SALE
1/7
null | 4.98% Cap Rate

5833 N Kenmore Ave
Chicago, IL 60660
Edgewater


HIGHLIGHTS

  • 56-Unit, 4+1 style property
  • First time available in 30+ years
  • Units feature varying finishes with potential to be reconfigured
  • Current rents average $998 / month
  • 24 Garage parking spaces
  • 0.2 miles from Lake Michigan and 0.2 miles from Thorndale CTA

OVERVIEW

Kiser Group has been exclusively engaged to market for sale 5833 N. Kenmore, a 56-unit, 4+1 style apartment building located in Chicago’s Edgewater neighborhood. Offered for the first time in over 30 years, this 1971 constructed asset is situated 0.2 miles from Lake Michigan, 0.2 miles from the Thorndale CTA Redline, and 0.3 miles from Lakeshore Drive. 5833 N. Kenmore features a unit mix comprised of twenty-six (26) studios, twenty-nine (29) 1 bed / 1 bath units and one (1) 2 bed / 1 bath apartment. The property also includes twenty-four (24) parking spaces and common area laundry facilities. Interiors vary in finish level, including hardwood or vinyl flooring, white and stainless-steel appliances, granite or laminate countertops, and original floor plans that have the potential to be reconfigured. As current rents are 60%+ below market (avg. $998 / month), new ownership can add significant value with light turnover work and by operating more aggressively to bring rents to market. Located in the desirable Edgewater neighborhood, 0.2 miles from Lake Michigan and the CTA Red Line, investors are guaranteed an asset with value-add potential in a northside area that will always be sought after.

FOR SALE DETAILS

PRICE

$8,700,000 USD

PRICE/SF

$228 USD /SF

# OF UNITS

56

PRICE/UNIT

$155,357

CAP RATE

4.98%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1971

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,264 SF

ZONING

RM-5

APN/PARCEL ID

14-05-402-011-0000,14-05-402-012-0000

ASK ABOUT THIS PROPERTY

Jacob PriceKiser GroupMore Info
773-293-5045

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Jacob PriceKiser GroupMore Info
773-293-5045

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