6915-6925 S Dante Ave | Chicago, IL 60637
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6915-6925 S Dante Ave
Chicago, IL 60637
Chicago Woodlawn/South Shore Portfolio · Residential Property For Sale
Investment Highlights
- Great Woodlawn and South Shore/Jackson Park Locations
- Stabilized Rent Rolls Throughout WITH Remaining Upside
Executive Summary
Seven-property portfolio, totaling 78 units, across various locations in the attractive Woodlawn and South Shore communities. All properties are masonry-constructed and built between 1899 and 1925. Unit mix: 21 One-Bedroom, 31 Two-Bedroom, and 26 Three-Bedroom. Each building has been updated/rehabbed within the last five years. Five properties and individual HVAC units and two properties have central boiler heating systems.
This package has 4 properties that have been accepted into the new rental property tax relief program which will result in additional savings on property taxes beyond the proforma projection between 25-35%.
There is assumable debt on this portfolio. A summary of loan terms follows:
-Loan Balance +/-$4.8MM 4.85MM.
-Originated in October-2019
-FNMA 12-year fixed loan at 5.03% (Matures in 2031)
-5 years of Interest Only, then 30 Year Amortization (IO from 2019 until November-2024)
Seller is willing to offer FNMA compliant soft pref behind the first lien to qualified buyers to reduce the downpayment necessary. Terms are negotiable there.
This package has 4 properties that have been accepted into the new rental property tax relief program which will result in additional savings on property taxes beyond the proforma projection between 25-35%.
There is assumable debt on this portfolio. A summary of loan terms follows:
-Loan Balance +/-$4.8MM 4.85MM.
-Originated in October-2019
-FNMA 12-year fixed loan at 5.03% (Matures in 2031)
-5 years of Interest Only, then 30 Year Amortization (IO from 2019 until November-2024)
Seller is willing to offer FNMA compliant soft pref behind the first lien to qualified buyers to reduce the downpayment necessary. Terms are negotiable there.
PROPERTY FACTS
| Price / SF | £70.48 / SF | Number of Properties | 7 |
| Sale Conditions | Portfolio Sale | Individually For Sale | 0 |
| Net Initial Yield | 7.53% | Total Building Size | 86,946 SF |
| Sale Type | Investment | Total Land Area | 1.12 AC |
| Status | Active |
| Price / SF | £70.48 / SF |
| Sale Conditions | Portfolio Sale |
| Net Initial Yield | 7.53% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 7 |
| Individually For Sale | 0 |
| Total Building Size | 86,946 SF |
| Total Land Area | 1.12 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 6915-6925 S Dante Ave, Chicago, IL 60637 | Residential | 12,600 SF | 1927 | - |
| 7110-7118 S East End Ave, Chicago, IL 60649 | Residential | 17,850 SF | 1925 | - |
| 6854-6856 S Cornell, Chicago, IL 60649 | Residential | 21,364 SF | 1920 | - |
| 814 E 67th St, Chicago, IL 60637 | Residential | 8,000 SF | 1899 | - |
| 7024 S Clyde Ave, Chicago, IL 60649 | Residential | 9,942 SF | 1918 | - |
| 6639-6641 S Ellis Ave, Chicago, IL 60637 | Residential | 7,200 SF | 1914 | - |
| 6826 S Cornell Ave, Chicago, IL 60649 | Residential | 9,990 SF | 1912 | - |
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