5710 N. Winthrop

Property feature image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Address: 5710 N. Winthrop, Chicago, Illinois, US
Created date: February 13, 2024
Date last updated: February 13, 2024
  • 25 studio and (17) 1 bedroom / 1 bathroom units
  • Modernized unit mix
  • Rental upside with current rates around 21% below market

Property Description

Kiser Group has been exclusively engaged to market 5710 N. Winthrop, a 42-unit vintage corridor building in Chicago's Edgewater community. The building has 25 studio apartments and (17) 1 bedroom / 1 bathroom units. In December of 2020, ownership started an 18 month, large-scale renovation project. The work included new building electrical, common space updates such as flooring, baseboards, lighting and doors. Units were renovated to modernize kitchens and baths with quartz countertops, shaker-style cabinetry, new flooring, lighting, etc,. Also, floor plans were reconfigured to offer open concept living, and windows were replaced to maximize natural light. 5710 N. Winthrop offers the opportunity to acquire a renovated asset with rental upside. Current rents are, on average, 29% below market for nearby apartment buildings with similar finishes (see rent survey pages 20-24), allowing for new ownership to operate more aggressively and move rents to market rates.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Multifamily type: Apartments
Price: $7,200,000
No. of Units: 42
Opportunity Zone: No
Price per unit: $171,429
Property Website Click Here
Address: 5710 N Winthrop Ave, Chicago, IL 60660, USA
Provided by:

Similar Properties in the Area

834 Jenifer Street

Madison , Wisconsin
Chicago & Midwest + Apartments
Units: 2
Price: $575,000

4742-4748 S. Drexel Blvd.

Chicago , Illinois
Chicago & Midwest + Apartments
Units: 43
Price: $4,850,000

937 Williamson Street

Madison , Wisconsin
Chicago & Midwest + Apartments
Units: 2
Price: $649,000
New call-to-action
popup background image