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4622-4624 S Indiana Ave 4622 S Indiana Ave 17 Unit Apartment Building For Sale Chicago, IL 60653
Investment Highlights
- Historic multifamily property constructed in 1893, offering architectural character and the potential for restoration or redevelopment.
- Excellent accessibility to CTA Green Line stations and major thoroughfares, providing convenient transit options for residents and visitors.
- Nearby proximity to cultural landmarks, local retail, and dining hubs, enhancing the property’s neighborhood appeal
- Located in Chicago’s Bronzeville neighborhood, an area undergoing significant revitalization with strong residential and commercial growth.
- Surrounded by a mix of established homes and new developments, delivering a built-in customer base and strong leasing demand.
Executive Summary
This investment opportunity will be going to Auction in August of 2026. You will be able to bid on this investment opportunity between August 17th through the 19th. Please contact SK Properties Group if you would like to tour the property or discuss the opportunity in more detail.
Developers and investors, this property is currently being operated as single-room occupancy (SRO) units. However, each unit has a minimum of two rooms. 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 already in operation, and new units are coming to market.
The annual income is $127,800, and the NOI is $65,560. There are 16 single-room units, including one traditional unit on the first floor with three bedrooms, a den, a bath, and in-unit laundry. All leases are currently month-to-month. A new common boiler and hot water tank were installed in the fall of 2024. The gas, electric, and water utilities are all commonly operated. This property is within walking distance of public transportation and shopping.
Developers and investors, this property is currently being operated as single-room occupancy (SRO) units. However, each unit has a minimum of two rooms. 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 already in operation, and new units are coming to market.
The annual income is $127,800, and the NOI is $65,560. There are 16 single-room units, including one traditional unit on the first floor with three bedrooms, a den, a bath, and in-unit laundry. All leases are currently month-to-month. A new common boiler and hot water tank were installed in the fall of 2024. The gas, electric, and water utilities are all commonly operated. This property is within walking distance of public transportation and shopping.
Property Facts
| Sale Type | Investment | 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 |
| Building Class | C | ||
| Zoning | RM-5 - Three-story brick elevation. | ||
| Sale Type | Investment |
| 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 |
|---|---|---|---|
| 1+1 | 16 | - | - |
| 3+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
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4622-4624 S Indiana Ave | 4622 S Indiana Ave