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4235-4237 S Calumet Ave
Chicago, IL 60653
Multifamily Property For Sale
·
8 Units
INVESTMENT HIGHLIGHTS
- 8 unit elevator building / 10 gated parking spaces.
- Can be acquired as a portfolio of 4 properties.
EXECUTIVE SUMMARY
7.5 Cap Breathe Rare Air. The finest portfolio of properties in Bronzeville is available for sale for the first time. The Bronzeville Collection, from developers with 45 years of experience, hits all the metrics for a turn-key acquisition - intelligent designs, durable renovations, functionality, and strong resident communities with a history of high renewal rates and low delinquencies. Future owners will possess immediate value, combined with long-term rental growth. Intimate, Exclusive, Boutique Masonry 8-unit residential Mid-Rise elevator building with 10 gated parking spaces, spanning 62 feet of frontage set in an exceptionally well-located site within 1/4 block of the Green Line and Pendleton Park. Built as condominiums in 2008, the development team de-converted to luxury boutique housing, with upgraded interior and exterior common elements and living spaces. Capital improvements included, but were not limited, to the following: a) intricate artesian sculptured iron fencing; b) botanic garden; c) zoned irrigation system inclusive of grounds and parkway, controlled by an app; d) common area art and lighting; e) downspout & gutter heaters; e) extensive masonry upgrades. The unit mix is as follows: (1) 4 bedroom, 2 1/2 bath duplex; (1) 3 bedroom, 2 1/2 bath duplex; (6) 3- bedroom, 2 bath flats. Refined living includes the following: a) professional grade kitchens; b) under-cabinet lighting; c) gas fireplaces; d) multiple terraces front and rear; e) walk-in closets; f) resort inspired primary bathrooms with dual sinks, soaking tubs and separate showers; g) individual HVAC; h) in-unit, full-size washers and dryers; i) double-hanging stainless-steel closets organizers; j) window treatments; k) dimmers, designer lighting, premium mill work and more.
PROPERTY FACTS Under Contract
| Price Per Unit | $316,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 7.51% | Building Size | 13,520 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | RM-5 | ||
| Price Per Unit | $316,875 |
| Sale Type | Investment |
| Cap Rate | 7.51% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 13,520 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2008 |
| Parking Ratio | 0.74/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+2.5 | 1 | $3,347 | - |
| 3+2.5 | 1 | $3,127 | - |
| 3+2 | 6 | $2,751 | - |
PROPERTY TAXES
| Parcel Number | 20-03-123-042-0000 | Improvements Assessment | $86,406 |
| Land Assessment | $27,395 | Total Assessment | $113,801 |
PROPERTY TAXES
Parcel Number
20-03-123-042-0000
Land Assessment
$27,395
Improvements Assessment
$86,406
Total Assessment
$113,801
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