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Prairie District Lofts 1727 S Indiana Ave 8 Unit Apartment Building For Sale 10% Cap Rate Chicago, IL 60616
Executive Summary
Available for sale is a 60-space parking lot along with a 16,245 square foot commercial space, that comes with 10 additional parking spaces, in the South Loop. Situated near the corner of Indiana Avenue and 18th Street, the parcel currently consist of, with present zoning, 172 units over 180,000 square feet of building and potential bonuses. The lot is adjacent to The Prairie District Lofts, a condominium building with 116 residential units and 6 long-term leased commercial spaces on the ground level. Excellent opportunity for a developer or investor to benefit from the area’s recent growth and robust rental market. Attractions in the area include Soldier Field, Shedd Aquarium, Adler Planetarium, the Field Museum, and the School of the Art Institute of Chicago, Columbia College, Mariano’s and more.
Property Facts
| Sale Type | Investment | Building Class | B |
| Cap Rate | 10% | Lot Size | 1.56 AC |
| No. Units | 8 | Building Size | 17,000 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1910/1993 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.59/1,000 SF |
| Zoning | DX-5 - Downtown Mixed-Use District | ||
| Sale Type | Investment |
| Cap Rate | 10% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 1.56 AC |
| Building Size | 17,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1910/1993 |
| Parking Ratio | 0.59/1,000 SF |
| Zoning | DX-5 - Downtown Mixed-Use District |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (83)
Bike Score®
Biker's Paradise (90)
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,301,812 | |
| Land Assessment | $669,790 | Total Assessment | $3,971,602 |
Property Taxes
Parcel Numbers
Land Assessment
$669,790
Improvements Assessment
$3,301,812
Total Assessment
$3,971,602
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Prairie District Lofts | 1727 S Indiana Ave
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