5616 S. Michigan Ave
- Six (6) 4Bd/2Ba & Two (2) 2Bd/1Ba Units
- 10.5% In-Place Cap Rate
- Individual Furnaces & Laundry Hookups
- Modern Units w/ Granite Counter Tops & Stainless Steel Appliances
- Copper Plumbing & Updated Electric
Property Description
Kiser Group is pleased to exclusively present for purchase 5616 S. Michigan, a rarely available eight (8) unit multifamily building located in Chicago’s Washington Park neighborhood. The property sits adjacent to Hyde Park and is just blocks from the prestigious University of Chicago, as well as the future site of the Obama Presidential Library, positioning it within one of the city’s most dynamic and rapidly developing areas. 5616 S. Michigan is comprised of eight (8) total units, including six (6) 4Bd/2Ba units and two (2) 2Bd/1Ba units. The apartments feature open floor plans with high-end kitchens with granite countertops and stainless steel appliances, and modern bathrooms with custom finishes. Capital improvements include copper plumbing, updated porches, and individual HVAC systems. 5616 S. Michigan presents investors with the opportunity to acquire a well-maintained, income-producing asset in one of Chicago’s fastest-growing neighborhoods. With an in-place cap rate exceeding 10%, 5616 S. Michigan offers immediate scale and strong, day-one cash flow.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,275,000 |
| No. of Units: | 8 |
| Year Built: | 1905 |
| Lot Size: | 0.16 Acres |
| Opportunity Zone: | No |
| Price per unit: | $159,375 |
| Property Website | Click Here |
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