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4622 S Indiana Ave
Chicago, IL 60653
4622 S Indiana Ave · Multifamily Property For Sale
·
17 Units
Investment Highlights
- Historic Bronzeville Area
- Walking distance to public transportation & shopping
- New townhomes & codominiums recently developed
Executive Summary
Developers and investors, this property is primed for conversion or development. Each unit has a minimum of two rooms, and several units have three or more. There is a shared bath on each floor, north & south of the property. The highest and best use would be either conversion to six condominiums or upscale apartment rentals. The property is located in the historic, developing Bronzeville area. Newly constructed condominiums and townhomes are now operational, and additional units are set to come to market.
The annual income is $126,600, and the NOI is $90,630. There are 16 small units, with two to four rooms, including one traditional three-bedroom unit, a den, a bath, and in-unit laundry, all located on the first floor. All leases are currently month-to-month. A new common boiler and hot water tank were installed in the fall of 2024. This property is within walking distance of public transportation and shopping.
The property is currently registered with the Department of Housing as an SRO, though the square footage of each unit is between 250 and 350 square feet. As the property is registered as an SRO, it can only be sold to an investor who would keep it as affordable housing. After six months, it can be sold to a traditional investor/developer starting in May of 2026.
The annual income is $126,600, and the NOI is $90,630. There are 16 small units, with two to four rooms, including one traditional three-bedroom unit, a den, a bath, and in-unit laundry, all located on the first floor. All leases are currently month-to-month. A new common boiler and hot water tank were installed in the fall of 2024. This property is within walking distance of public transportation and shopping.
The property is currently registered with the Department of Housing as an SRO, though the square footage of each unit is between 250 and 350 square feet. As the property is registered as an SRO, it can only be sold to an investor who would keep it as affordable housing. After six months, it can be sold to a traditional investor/developer starting in May of 2026.
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Redevelopment Project | Lot Size | 0.19 AC |
| No. Units | 17 | Building Size | 11,310 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1890 |
| Zoning | RM-5 - Three-story brick elevation. | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 11,310 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1890 |
| Zoning | RM-5 - Three-story brick elevation. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | $700.00 | 250 - 350 |
| 3+1 | 1 | - | 11,000 |
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