4819 S Calumet Ave
- Rare Bronzeville Six-Unit Multifamily Acquisition Opportunity
- Condo conversion optionality
- Highly Desirable Oversized Unit Mix
- Compelling Value-Add Execution
- Significant Rental Upside
- High Rental Demand
- Catalyst from Obama Presidential Center
Property Description
Essex Realty Group, LLC is pleased to present the opportunity to acquire a six-unit multifamily property located at 4819-21 S Calumet in the heart of Bronzeville, one of Chicago's most historic and rapidly evolving neighborhoods. Comprised of exceptionally large apartment layouts, the property features two four-bedroom units and four five-bedroom units, a unit mix that is increasingly difficult to replicate in today's development environment and rarely offered for sale. 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, creating more desirable three-bedroom/two-bathroom and four-bedroom/two-bathroom layouts that align with current renter preferences. Current rents remain significantly below market, providing investors with a clear path to increasing revenue through a targeted renovation program. Bronzeville continues to benefit from significant public and private investment throughout Chicago's South Side. Rich in architectural character and cultural history, the neighborhood has emerged as one of the city's most sought-after multifamily investment markets. The property's location offers convenient access to Downtown Chicago, Hyde Park, Kenwood, the University of Chicago, and the lakefront. Additionally, the highly anticipated Obama Presidential Center is scheduled to open in nearby Jackson Park on Juneteenth 2026, further enhancing the area's long-term residential and economic growth trajectory. At an asking price of $960,000, investors have the opportunity to acquire the asset at approximately $160,000 per unit. With a projected renovation budget of approximately $30,000 per unit, the property offers an attractive all-in basis of roughly $190,000 per unit. The combination of oversized floor plans, below-market rents, and the potential to improve unit functionality through the addition of bathrooms creates a compelling value-add opportunity. Following renovations, investors can reposition the asset to better compete with newer housing stock while capitalizing on the strong demand for large apartment units throughout Bronzeville and Chicago's South Side. This offering represents a rare opportunity to acquire an irreplaceable Bronzeville multifamily asset featuring oversized apartment layouts, government-backed income, significant rental upside, and a compelling value-add strategy in one of Chicago's most dynamic and supply-constrained neighborhoods.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $960,000 |
| No. of Units: | 6 |
| Year Built: | 1902 |
| Lot Size: | 0.15 Acres |
| Opportunity Zone: | No |
| Price per unit: | $160,000 |
| Property Website | Click Here |
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