6209 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60637- Washington Park
$1,000,000 USD
773-293-5090
6209 S Michigan Ave, Chicago, IL for Sale
$1,000,000 USD
Apartments - FOR SALE
1/5
null | 11.06% Cap Rate

6209 S Michigan Ave
Chicago, IL 60637
Washington Park


HIGHLIGHTS

  • Desirable Unit Mix - Six (6) 3Bd/1.5Ba & One (1) 2bd/1Ba
  • Spacious Units w/ Modern Kitchen & Baths
  • All Individual Furnaces, Water Heaters, & In-Unit Laundry
  • Newer Electric & Updated Copper Plumbing

OVERVIEW

Kiser Group is pleased to exclusively present for purchase 6209 S. Michigan Ave., a 7-unit multifamily investment opportunity located in Chicago’s Washington Park neighborhood. The property is conveniently positioned near Washington Park, public transportation, major thoroughfares, and the University of Chicago, providing residents with easy access throughout the South Side and to Downtown Chicago. The location benefits from continued investment throughout the surrounding area and strong demand for quality rental housing. The property consists of seven (7) residential units (6- 3Bd/1.5Ba) (1- 2Bd/1Ba) and offers several attractive features for both residents and investors. Each unit is equipped with individual furnace and hot water systems, allowing tenants greater control over their utilities while reducing centralized mechanical responsibilities for ownership. The units also feature in-unit laundry, a highly desirable amenity that enhances the property’s appeal to prospective tenants. Offered at $1,000,000, the property delivers an attractive 11.06% in-place capitalization rate based on $110,576 in NOI, providing investors with strong cash flow from day one. Additional upside exists through continued operational and rental improvements, with pro forma NOI projected at $134,077 and a 13.41% pro forma capitalization rate. The combination of strong in-place returns and meaningful upside makes 6209 S. Michigan Ave. a compelling multifamily investment opportunity.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$99 USD /SF

# OF UNITS

7

PRICE/UNIT

$142,857

CAP RATE

11.06%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1913

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

RM-5

APN/PARCEL ID

20-15-314-016-0000

ASK ABOUT THIS PROPERTY

Noah BirkKiser GroupMore Info
773-293-5090

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Noah BirkKiser GroupMore Info
773-293-5090

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