Chicago Woodlawn/South Shore Portfolio Multi-Family FOR SALE


Chicago, IL - South Shore
$7,737,000 USD
630-709-3581
, Chicago, IL for Sale
$7,737,000 USD
Multi-Family - FOR SALE
1/7
null | 7.53% Cap Rate

Chicago Woodlawn/South Shore Portfolio
Chicago, IL
South Shore


HIGHLIGHTS

  • Great Woodlawn and South Shore/Jackson Park Locations
  • Stabilized Rent Rolls Throughout WITH Remaining Upside

OVERVIEW

Seven-property portfolio, totaling 78 units, across various locations in the attractive Woodlawn and South Shore communities. All properties are masonry-constructed and built between 1899 and 1925. Unit mix: 21 One-Bedroom, 31 Two-Bedroom, and 26 Three-Bedroom. Each building has been updated/rehabbed within the last five years. Five properties and individual HVAC units and two properties have central boiler heating systems. This package has 4 properties that have been accepted into the new rental property tax relief program which will result in additional savings on property taxes beyond the proforma projection between 25-35%. There is assumable debt on this portfolio. A summary of loan terms follows: -Loan Balance +/-$4.8MM 4.85MM. -Originated in October-2019 -FNMA 12-year fixed loan at 5.03% (Matures in 2031) -5 years of Interest Only, then 30 Year Amortization (IO from 2019 until November-2024) Seller is willing to offer FNMA compliant soft pref behind the first lien to qualified buyers to reduce the downpayment necessary. Terms are negotiable there.

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Edward BluemelAtlas Asset Management RealtyMore Info
630-709-3581

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Edward BluemelAtlas Asset Management RealtyMore Info
630-709-3581

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