$4,450,000 $23,889 est/mo Sourced by Back At You

4220 S Michigan Avenue,Chicago, IL 60653

Chicago IL, 60653

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Description

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

Details

MLS#11976342
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1916
Days On Site111
Listing Provided ByKiser Group Realty Inc | John George

Features

Story(s)4
Units26

Market Activity 60653

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Listings Checked: 3 minutes ago
StateIL
CountyCook
CityChicago
Zip Code60653
AreaCHI Grand Boulevard
Listing VS Median (in 60653)
Price:
$4,450,000
low | high
Med:
$329,500
100% of Average
On Site:
111
low | high
Med:
83.000000
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 7:29:25 PM PDT