5100 W Madison St
- Desirable Unit Mix: Five (5) 2BD/1BA, Seven (7) 3BD/1BA, Six (6) 3BD/2BA & One (1) retail
- Copper Plumbing Throughout
- Newer Porches
- New 100 Gallon Water Heater (2023)
- Renovated Units with Updated Kitchens and Bathrooms
Property Description
Kiser Group is pleased to exclusively present for purchase 5100 W. Madison St, a nineteen (19) unit mixed-use property in Chicago's Austin neighborhood. The property sits along Madison, which features an abundance of retail and public transit options. The building is also just blocks from Interstate 290, as well as, the Laramie Green Line CTA Station for an easy commute downtown. 5100 W. Madison is a mixed-use building, made up of eighteen (18) atypically large apartments and one (1) retail unit. The building is comprised of: five (5) 2BD/1BA, seven (7) 3BD/1BA, six (6) 3BD/2BA & one (1) retail tenant. All units are incredibly spacious. Under current ownership, the building has been fully renovated cosmetically and mechanically. Improvements include but are not limited to: electric baseboard heating, copper plumbing, updated electric service, newer windows, and a newer 100G water heater. From day one, a new investor will realize an in-place cap rate of 10% and cash returns exceeding 17%. By raising rents to a rate already being achieved in the building, a new investor can realize a cap rate over 11% and cash returns approaching 25%.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,400,000 |
| No. of Units: | 19 |
| Year Built: | 1927 |
| Opportunity Zone: | No |
| Price per unit: | $73,684 |
| Property Website | Click Here |
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