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4131 S Michigan Ave
Chicago, IL 60653 Bronzeville

$860,000 USD

Apartments For Sale  •  7,934 SF

Property Details

  • Property Type Apartments
  • Total Building Size 7,934 SF
  • Lot Size 0.18 AC
  • Building Class C
  • Year Built 1887
  • Zoning RM-5
71 Transit Score
76 Walk Score

Highlights

Property has a strong history of high occupancy and collections
Current cap rate of 8.0%, projected to increase to 8.7% on a stabilized basis
Within walking distance to the Sox-35th Redline stop
Current rents below market with potential to increase to $1,375 for 1-bedroom units and $1,700 for 2-bedroom units
[1] 1-Bed/1-Bath [5] 2-Bed/1-Bath
The property is fully occupied, showcasing strong rental demand in the area

Public Transportation

Commuter RailDriveWalkDistance
3 min - 1.2 mi
47th Street Station (Metra Electric Line - Northeast Illinois Regional Commuter Railroad (Metra)) 6 min - 2.3 mi
Transit/SubwayDriveWalkDistance
Indiana Station (Green Line - Chicago Transit Authority "L" Trains (The "L")) 1 min 5 min 0.2 mi
43rd Street Station (Green Line - Chicago Transit Authority "L" Trains (The "L")) 1 min 8 min 0.4 mi
47th Street Station (Green Line) (Green Line - Chicago Transit Authority "L" Trains (The "L")) 2 min 18 min 0.9 mi
35th-Bronzeville-IIT Station (Green Line - Chicago Transit Authority "L" Trains (The "L")) 3 min 20 min 1.0 mi
AirportDriveWalkDistance
Chicago Midway International 19 min - 9.2 mi
Chicago O'Hare International 59 min - 25.3 mi
Robert Berman 312-610-1706 Nara Realty Advisors
Robert Berman 312-610-1706 Nara Realty Advisors