6957 S Michigan Ave - Apartments FOR SALE


Chicago, IL 60637- Greater Grand Crossing
$1,625,000 USD
773-293-5090
6957 S Michigan Ave, Chicago, IL for Sale
$1,625,000 USD
Apartments - FOR SALE
1/5
null | 10.33% Cap Rate

6957 S Michigan Ave
Chicago, IL 60637
Greater Grand Crossing


HIGHLIGHTS

  • Nine (9) Studios, Thirteen (13) 1Bd/1Ba, Three (3) 2Bd/1Ba
  • 10.33% Cap Rate
  • Newer Porches
  • Modern Boiler
  • Newer Hot Water Tank
  • Updated Masonry and Tuckpointing

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase 6957 S. Michigan, a twenty-five (25) unit apartment building located in the Grand Crossing neighborhood of Chicago’s South Side. Sitting just north of Chatham, 6957 S. Michigan is located on a quiet block of Park Mano roughly three (3) blocks away from Chicago’s Red Line “El” train station at 69th and the Dan Ryan Expressway. 6957 S. Michigan is comprised of nine (9) studios, thirteen (13) 1Bd/1Ba, and three (3) 2Bd/1Ba units. Each unit consists of hardwood floors throughout. Recent improvements to the building consist of, but not limited to: newer porches, modern boiler, newer (2019) hot water tank, and an abundance of masonry and tuckpointing work. 6957 S. Michigan presents an investor an incredible opportunity to acquire a stabilized, cash flowing asset in Chicago’s Grand Crossing neighborhood. With the current operation from day one, an investor will realize over a 10.33% cap rate and a 18.58% cash return.

FOR SALE DETAILS

PRICE

$1,625,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

25

PRICE/UNIT

$65,000

CAP RATE

10.33%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

RS-3

APN/PARCEL ID

20-22-314-019-0000

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.