4723 S Vincennes Ave
- Premier Bronzeville Location
- Six-Unit Multifamily Asset + Non-Conforming Garden Unit
- Exceptionally Large Apartment Layouts
- Significant Rental Upside
- Potential Condominium Conversion
Property Description
Essex is pleased to present 4723–25 S. Vincennes Avenue, a six-unit plus one nonconforming multifamily investment opportunity located in the heart of Bronzeville, one of Chicago’s most historic and rapidly evolving neighborhoods. Comprised of exceptionally large apartment layouts, the property features three 2-bedroom/1- bathroom units, three 3-bedroom + den/1-bathroom units, and one non-conforming garden unit consisting of a 2-bedroom/1-bathroom apartment. The asset presents a compelling value-add opportunity through interior renovations and strategic unit reconfiguration. Given the substantial unit sizes, investors have the ability to modernize the apartments while potentially adding additional bathrooms and creating more desirable 3-bedroom/2-bathroom layouts. Beyond the in-place rental upside, investors have multiple opportunities to further enhance value, including the potential to reconfigure the three oversized units, add additional bathrooms, and pursue a potential condominium conversion, subject to applicable zoning, approvals, and city requirements. The property also includes a non-conforming garden apartment that is currently leased and provides additional rental income. Combining below-market rents, substantial apartment layouts, and multiple value-add strategies, 4723–25 S. Vincennes Avenue presents an attractive opportunity to increase rental income and enhance the overall value of the asset in one of Chicago’s established South Side neighborhoods.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,125,000 |
| No. of Units: | 6 |
| Year Built: | 1900 |
| Lot Size: | 0.14 Acres |
| Opportunity Zone: | No |
| Price per unit: | $187,500 |
| Property Website | Click Here |
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