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5017 S Drexel Blvd 8 Unit Apartment Building $4,700,000 ($587,500/Unit) 7.60% Cap Rate Chicago, IL 60615
INVESTMENT HIGHLIGHTS
- Attractive PPB: $147k/Bedroom
- Successful Hybrid Rental Model: Ownership has Achieved a Strong History of High Occupancy
- Located in the Desirable and Fast Appreciating Hyde Park Neighborhood
- [3] Covered Parking Spaces | [3] Uncovered Parking Spaces
- All of the Units Feature Designer Finishes and Fully Furnished Units
EXECUTIVE SUMMARY
Nara Advisors has been exclusively engaged to market for sale Drexel House [5017 S Drexel Blvd], an 8-unit, 38-bedroom multifamily property in Chicago's Hyde Park neighborhood.
5017 S Drexel is a gut-rehabbed property showcasing a rare and highly functional unit configuration: [7] spacious five-bedroom apartments and [1] three-bedroom unit, all
equipped with three bathrooms. Each residence has been meticulously updated, offering modern, high-end finishes, quality furnishings, private furnaces, and in-unit laundry. These extensive upgrades support strong investment potential and market-leading returns in one of Chicago’s most upward-trending submarkets. The building operates with both short-term rental flexibility and long-term lease stability.
The property is situated in close proximity to numerous attractions of Chicago's desirable Hyde Park neighborhood, including The University of Chicago, The Northwestern Medical Center, and the future Obama Presidential Library.
The owner has successfully implemented a hybrid long-term/short-term rental strategy that caters to the University of Chicago community. Ownership has achieved high occupancy and strong in-place rental income off their hybrid model.
5017 S Drexel is a gut-rehabbed property showcasing a rare and highly functional unit configuration: [7] spacious five-bedroom apartments and [1] three-bedroom unit, all
equipped with three bathrooms. Each residence has been meticulously updated, offering modern, high-end finishes, quality furnishings, private furnaces, and in-unit laundry. These extensive upgrades support strong investment potential and market-leading returns in one of Chicago’s most upward-trending submarkets. The building operates with both short-term rental flexibility and long-term lease stability.
The property is situated in close proximity to numerous attractions of Chicago's desirable Hyde Park neighborhood, including The University of Chicago, The Northwestern Medical Center, and the future Obama Presidential Library.
The owner has successfully implemented a hybrid long-term/short-term rental strategy that caters to the University of Chicago community. Ownership has achieved high occupancy and strong in-place rental income off their hybrid model.
PROPERTY FACTS
| Price | $4,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $587,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7.60% | Building Size | 17,800 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Parking Ratio | 0.34/1,000 SF |
| Zoning | RM-5 - Residential | ||
| Price | $4,700,000 |
| Price Per Unit | $587,500 |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 17,800 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Parking Ratio | 0.34/1,000 SF |
| Zoning | RM-5 - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 5+3 | 7 | - | 1,800 - 2,200 |
| 3+3 | 1 | - | - |
1 1
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 20-11-114-002-0000 | Improvements Assessment | $80,200 |
| Land Assessment | $62,000 | Total Assessment | $142,200 |
PROPERTY TAXES
Parcel Number
20-11-114-002-0000
Land Assessment
$62,000
Improvements Assessment
$80,200
Total Assessment
$142,200
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5017 S Drexel Blvd
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