4627 S Drexel Blvd 35 Unit Apartment Building $8,675,000 ($247,857/Unit) 7.50% Cap Rate Chicago, IL 60653

Interra Realty has been exclusively engaged to market 4625 S. Drexel Boulevard for sale. Located in Chicago's historic Kenwood neighborhood on scenic Drexel Boulevard, the subject investment property is comprised of 35 apartments. The property is a courtyard style apartment building with high curb appeal and attractive architecture. In addition, the property is walking distance to the University of Chicago, the 53rd street retail corridor and the new 120,000 sq ft Northwestern Medicine outpatient care facility.
Originally converted into individual condominiums, the current owner reverted the entire property back to apartments. The unit mix at the property is comprised of one, two bedroom and three bedroom apartments, all with identical finishes and enormous floor plans. All apartments feature a modern aesthetic with stainless steel appliances, dishwashers and in-unit stackable washers and dryers. All units feature individual HVAC and Individual Hot Water Tanks.
The property presents qualified investors with a unique opportunity to own a stabilized, recently gut rehabbed apartment building while gaining immediate scale in a submarket currently experiencing substantial growth.