Auction Date: 9/14-9/16 Starting Bid: $100,000
6116 S. King Drive presents an opportunity to acquire a 52-unit multifamily apartment building in Chicago's Washington Park neighborhood. The three-story brick property was originally constructed in 1905 and renovated in 2021, offering a mix of one-bedroom, two-bedroom, and three-bedroom apartments. Property amenities include a landscaped courtyard, an on-site leasing office, and a surface parking lot.
The property benefits from a location within one of Chicago's established South Side residential corridors, less than one mile from the University of Chicago and UChicago Medicine. The surrounding area is supported by major employment, education, and healthcare institutions that contribute to ongoing housing demand. Residents also benefit from convenient access to Interstate 90/94 and multiple CTA Green and Red Line stations, providing connectivity throughout the Chicago metropolitan area.
Washington Park's proximity to Hyde Park, Woodlawn, major transit infrastructure, and neighborhood retail amenities positions the asset within an active residential market. Offered fully vacant, the property provides investors with the ability to implement a lease-up strategy immediately upon acquisition and establish new tenancy without disruption to existing occupants. The combination of recent renovations, diverse unit mix, on-site amenities, and access to major demand drivers creates a compelling repositioning and value-add opportunity within a well-connected urban location.