$1,125,000
5720 S Michigan Avenue
Chicago, IL, 60637
5720 S. Michigan is a recently gut renovated six (6) unit building located in the Washington Park neighborhood of Chicago’s South Side. Sitting just blocks from Washington Park and bordering the prestigious Hyde Park community, the asset also sits just four (4) blocks away from the CTA Green Line ‘El Station,’ providing tenants easy, affordable, and quick transportation to and from Chicago’s Downtown. 5720 S. Michigan is has an incredibly desirable unit mix comprised of five (5) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. All of which, however, feature hardwood floors, new kitchens with stainless steel appliances and granite countertops, modern bathrooms with ceramic tile, and an abundance of natural light. Additionally, the building underwent a complete gut renovation in 2020, including, but not limited to, new electric service & wiring, copper plumbing, new porches, and individual HVAC units. 5720 S. Michigan provides an incredibly rare opportunity for an investor to acquire a true turn key investment in one of Chicago’s most appreciating neighborhoods just outside of Hyde Park. From day one, a new investor will capitalize on an incredibly strong tenant base with an in place cap rate exceeding 7% with an abundance of value add opportunities. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to further increase .
Property Details
Price:
$1,125,000
MLS #:
MRD11945118
Status:
Active
Beds:
0
Baths:
0
Address:
5720 S Michigan Avenue
Type:
Commercial
City:
Chicago
Listed Date:
Dec 11, 2023
State:
IL
ZIP:
60637
Year Built:
1906
Schools
Interior
Exterior
Financial
Buyer Agent Compensation
2.5% MINUS $350 FEE. SEE BROKER PRIVATE REMARKS*Net Sale Price
Tax Year
2022
Taxes
$7,840
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
More About DebraMortgage Calculator
Map
Similar Listings Nearby
Chicago, IL$1,350,000
2.32 miles away
- 4301 S King Drive
Chicago, IL$1,300,000
1.82 miles away
- 4784 S Archer Avenue
Chicago, IL$1,275,000
4.98 miles away
- 7956 S Dobson Avenue
Chicago, IL$1,250,000
3.05 miles away
- 7800 S Coles Avenue
Chicago, IL$1,250,000
4.37 miles away
- 6605 S Kimbark Avenue
Chicago, IL$1,250,000
1.82 miles away
- 3601 S Damen Avenue
Chicago, IL$1,150,000
3.76 miles away
- 700 E 91st Street
Chicago, IL$1,100,000
4.88 miles away
- 200 E 35th Street
Chicago, IL$1,100,000
2.84 miles away
Courtesy of Kiser Group Realty Inc. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Chicago, IL. Detailed information about real estate listings held by brokerage firms other than Compass / The Debra Dobbs Group include the name of the listing broker. Neither the listing company nor Compass / The Debra Dobbs Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Chicago, IL. All rights reserved.
5720 S Michigan Avenue
Chicago, IL
LIGHTBOX-IMAGES