4601 S Indiana Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
4601 S Indiana Ave
18 Unit Block of Flats £3,061,465 (£170,081/Unit) Chicago, IL 60653
Investment Highlights
- Professional Offering Memorandum Available Upon Request
- 100% Gut Renovated Units with In-Unit Washer/Dryer Throughout
- Favorable Mix of Entirely Two and Three Bedroom Units; Most Units Have Two Bathrooms
- Favorable Assumable Debt, Current Balance of $2.8MM [71% LTV at List], 4.75% IR
- Professionally Operated and Meticulously Maintained by Local Owner
- Stabilized, Cash-Flowing Building With Strong Rental Upside for Top-Quality Units
Executive Summary
Essex Realty Group, Inc. has been exclusively engaged to market for sale 4601 S Indiana Ave, an 18-unit multifamily building located in Chicago’s Bronzeville neighborhood.
This turnkey property features an immensely favorable unit mix of two and three bedroom units with two bathrooms in a majority of the apartments. These units were all recently gut renovated and feature high end finishes with individual furnaces and in-unit washer/dryer throughout, allowing an investor to achieve top of the market rents in one of Chicago’s most appreciating submarkets. There is no deferred maintenance with this property.
Further contributing to this building’s cash flow is the assumable debt. There is an assumable loan with favorable leverage and a below-market 4.75% interest rate. This, combined with a strong history of high occupancy and collections, will enable an investor to achieve above-market cash-on-cash returns, with room to further increase rents.
4601 S Indiana presents the rare opportunity for an investor to acquire a fully-renovated building with large apartments in the appreciating Bronzeville neighborhood and achieve stellar cash-on-cash returns by assuming the below-market interest rate, higher-leverage debt.
This turnkey property features an immensely favorable unit mix of two and three bedroom units with two bathrooms in a majority of the apartments. These units were all recently gut renovated and feature high end finishes with individual furnaces and in-unit washer/dryer throughout, allowing an investor to achieve top of the market rents in one of Chicago’s most appreciating submarkets. There is no deferred maintenance with this property.
Further contributing to this building’s cash flow is the assumable debt. There is an assumable loan with favorable leverage and a below-market 4.75% interest rate. This, combined with a strong history of high occupancy and collections, will enable an investor to achieve above-market cash-on-cash returns, with room to further increase rents.
4601 S Indiana presents the rare opportunity for an investor to acquire a fully-renovated building with large apartments in the appreciating Bronzeville neighborhood and achieve stellar cash-on-cash returns by assuming the below-market interest rate, higher-leverage debt.
Property Facts
| Price | £3,061,465 | Apartment Style | Low Rise |
| Price Per Unit | £170,081 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| No. Units | 18 | Building Size | 28,983 SF |
| Property Type | Residential | Number of Floors | 3 |
| Property Subtype | Apartment | Year Built | 1901 |
| Price | £3,061,465 |
| Price Per Unit | £170,081 |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 28,983 SF |
| Number of Floors | 3 |
| Year Built | 1901 |
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 2+2 | 6 | - | - |
| 3+2 | 8 | - | - |
1 of 1
Walk Score ®
Very Walkable (79)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 20-03-321-001-0000 | Improvements Assessment | £104,858 |
| Land Assessment | £3,476 | Total Assessment | £108,334 |
PROPERTY TAXES
Parcel Number
20-03-321-001-0000
Land Assessment
£3,476
Improvements Assessment
£104,858
Total Assessment
£108,334
zoning
| Zoning Code | R-5 |
| R-5 |
-
Robert Berman -
Essex Realty Group
1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
4601 S Indiana Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.