5610 South Michigan Avenue
- Strong unit mix consisting of oversized (6) four-bedroom units and (1) two-bedroom unit
- Attractive vintage architecture with stone façade and marble entryway
- Individual furnaces
- Opportunity to increase NOI through operational efficiencies and future rent growth
- Laundry facilities on-site
- Located near the University of Chicago, Hyde Park, and the Museum of Science and Industry
Property Description
Essex Realty Group, LLC has been exclusively engaged to market for sale a 7-unit multifamily property located at 5610 S. Michigan Avenue in Chicago’s Washington Park neighborhood. The well-maintained vintage walk-up consists of spacious (6) four-bedroom units and (1) two-bedroom unit featuring hardwood floors, high ceilings, abundant natural light, individual furnaces, and open living/kitchen layouts. The property also features a stone façade, marble entryway, updated plumbing and electrical systems, and on-site laundry facilities. The property is currently 86% occupied and offers investors strong in-place income with clear operational and leasing upside. Additional value can be created through leasing the vacant unit, improving operational efficiencies, and capturing future rental growth as units turn over. Located near Hyde Park, the University of Chicago, and the Museum of Science and Industry, the property benefits from strong rental demand and continued neighborhood investment, offering investors stable cash flow with long-term appreciation potential.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $800,000 |
| No. of Units: | 7 |
| Opportunity Zone: | No |
| Price per unit: | $114,286 |
| Property Website | Click Here |
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