6700 S Constance Ave - Apartments FOR SALE


Chicago, IL 60649- South Shore
$10,325,000 USD
312-477-0197
6700 S Constance Ave, Chicago, IL for Sale
$10,325,000 USD
Apartments - FOR SALE
1/10
null | 8.5% Cap Rate

6700 S Constance Ave
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Prominent Location on Jackson Park Golf Course
  • High Curb Appeal Asset
  • All Units Newly Rehabbed With Market Leading Finishes
  • New Plumbing, Electric and Multiple Laundry Rooms On Site
  • Long Term Significant Property Tax Savings Through AHSAP
  • Immediate Economies of Scale

OVERVIEW

Interra Realty has been exclusively engaged to market 6700 S. Constance Avenue for sale. The subject investment property is a 78-unit multifamily asset in the Jackson Park Highlands submarket on Chicago’s south side. The property overlooks Jackson Park Golf Course and is steps from the Obama Presidential Center. Extensively rehabbed over the past 24 months, the unit mix at the property is comprised of one, two and three bedroom apartments, all with identical finishes. All apartments feature a modern aesthetic with stainless steel appliances, granite kitchen counter tops, new cabinetry, newly refinished hardwood floors as well as completely updated bathroom showers and vanities. Further improvements include all new electrical service, all new copper plumbing and complete build out of four on-site laundry rooms. The property has also been awarded a 35% assessed value reduction through AHSAP, with two (2) 10 Yr Extension Options, which lowers property taxes 35% per year. The property is being o?ered for sale free-and-clear of existing debt. A new investor has the opportunity to acquire a building that has been extensively rehabbed and o?ers attractive economies of scale in a highly sought after Chicago submarket with significant future upside.

FOR SALE DETAILS

PRICE

$10,325,000 USD

PRICE/SF

$135 USD /SF

# OF UNITS

78

PRICE/UNIT

$132,372

CAP RATE

8.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

RM-6

APN/PARCEL ID

20-24-304-001-0000

ASK ABOUT THIS PROPERTY

Lucas FrymanInterra RealtyMore Info
312-477-0197

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Lucas FrymanInterra RealtyMore Info
312-477-0197

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