Courtesy: Kiser Group Realty Inc

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4220 S Michigan Avenue, Chicago IL, 60653

(Active)

$4,450,000

MLS# 11976342

Last Updated: 5/15/2024 4:53 AM

Description for 4220 S Michigan Avenue Chicago, IL 60653

4220 S. Michigan is a 26-unit property located Chicago's historic Bronzeville neighborhood. The asset is ideally situated on a beautiful, tree-lined street just blocks away from Metcalfe Park, providing easy access I-90 and Chicago's downtown. 4220 S. Michigan is comprised of an incredibly desirable unit mix, consisting of one (1) studio, seven (7)2BD/1BA, and eighteen (18) 3BD/1BA units. All Units are incredibly spacious and have gone through updates both cosmetically and mechanically. Recent improvements to the building includes but are not limited to, newer roofs, renovated kitchens & bathrooms, in-unit HVAC, and copper plumbing. 4220 S. Michigan provides investors with the unique opportunity to obtain a stabilized, cash flowing asses in one of Chicago's most rapidly appreciating neighborhoods. From day one, an investor will realize an in-place cap rate over 6.05% and a cash return of just under 7%. Additionally, an investor has the option to assume the existing debt (terms below) through Freddie Mac. 4220 S Michigan Ave: - $2,464,000 - 3.67% Rate -2 Years Remaining

Price

Price: $4,450,000

County: Cook

MLS#: 11976342

Status: Active

Description

Listing Information

Property Type: Multi-Family, Business Opportunities, 3+ Story
Year Built:1916	Stories: 4

Units: 26 Total

Neighborhood

Room Information

Exterior / Lot Features

Lot Dimensions:102' X 159'

Driving Directions

Heading West on East 43rd Street, head past the 43rd Street CTA Station for two blocks, then turn right onto South Michigan Avenue, where the property sits four buildings in on the left.

Financial Considerations

Tax/Property ID: 20031190180000

Tax Amount: $37,539

Listing Price History

Chicago Real Estate

Chicago is located in Illinois. Chicago, Illinois 60653 has a population of 2,781,445.

The median household income in Chicago, Illinois 60653 is $38,332. The median household income for the surrounding county is $68,916 compared to the national median of $66,222. The median age of people living in Chicago 60653 is 38 years.

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Courtesy: Kiser Group Realty Inc

This content last refreshed on 5/15/2024 4:53 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.

Information is deemed reliable but is not guaranteed.

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