Darlington Apartments 4700 N Racine Ave 48 Unit Apartment Building $6,750,000 ($140,625/Unit) 7.63% Cap Rate Chicago, IL 60640

Kiser Group has been exclusively engaged to market for sale 4700 N. Racine, a boutique 48-unit walk-up building, located in Chicago's Sheridan Park neighborhood. The property is situated steps to Uptown’s thriving Broadway retail corridor and entertainment district, 0.2 miles from the Lawrence CTA Red Line, 0.2 miles to the Wilson Red Line, and only 0.7 miles to the lakefront. Once the former Darlington Hotel, this property shares a rich history with the neighborhood.
The 1911-built asset underwent an extensive rehabilitation in 2019, followed by a second phase more recently in 2025. The improved unit mix includes thirty (30) studios, fifteen (15) 1 bed / 1 bath apartments, and three (3) brand new 2 bed / 1 bath duplex units. Apartments feature a modern aesthetic including flat panel cabinetry, quartz counter tops, and stainless steel appliances. On-site amenities include a fitness center, expansive laundry room, backyard/outdoor patio space, and storage lockers, providing renters with modern comfort in a classic Chicago setting. Additionally, there are three exterior parking spaces in the rear of the property.
4700 N. Racine offers investors a rare opportunity to acquire a fully-renovated and amenitized asset with significant day one cash flow.