5001 S Michigan Ave.
- Re-Purpose for Senior Living (Original Use), Multifamily Redevelopment (48 - 56 Units), or Medical Office
- Strong in-place Mechanicals
- Strong Location
Property Description
SVN is pleased to present 5001 S Michigan Avenue, located in the desirable Bronzeville market of Chicago's South Side. The building was built in 1976 with the original use of a senior living facility. The property is now vacant and ready for repurpose, such as Senior Living, Medical Office, or multifamily redevelopment. The property has been well maintained and strong condition. Major Capital improvements consist of newer tuckpointing, newer roof, newer elevator, newer windows, and high-quality interior finishes. Heat is provided by multiple Boiler Systems, forced air, and electric baseboards. The building has three electrical rooms (1) basement (2) 4th floor, fire protection system, sprinkler system, and newer water tanks. The building also includes a gated parking lot with roughly 40+ parking spaces.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,950,000 |
| No. of Units: | 48 |
| Opportunity Zone: | No |
| Price per unit: | $61,458 |
| Property Website | Click Here |
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