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5100-5104 W Madison St 24 Unit Apartment Building $1,400,000 ($58,333/Unit) 11.05% Cap Rate Chicago, IL 60644
Investment Highlights
- Desirable Unit Mix: Five (5) 2BD/1BA, Seven (7) 3BD/1BA, Six (6) 3BD/2BA & One (1) retail
- Newer Porches
- Renovated Units with Updated Kitchens and Bathrooms
- Copper Plumbing Throughout
- New 100 Gallon Water Heater (2023)
Executive Summary
Kiser Group is pleased to exclusively present for purchase 5100 W. Madison St, a nineteen (19) unit mixed-use property in Chicago's Austin neighborhood. The property sits along
Madison, which features an abundance of retail and public transit options. The building is also just blocks from Interstate 290, as well as, the Laramie Green Line CTA Station for an easy commute downtown. 5100 W. Madison is a mixed-use building, made up of eighteen (18) atypically large apartments and one (1) retail unit. The building is comprised of: five (5) 2BD/1BA, seven (7) 3BD/1BA, six (6) 3BD/2BA & one (1) retail tenant. All units are incredibly spacious. Under current ownership, the building has been fully renovated cosmetically and mechanically. Improvements include but are not limited to: electric baseboard heating, copper plumbing, updated electric service, newer windows, and a newer 100G water heater. From day one, a new investor will realize an in-place cap rate of 10% and cash returns exceeding 17%. By raising rents to a rate already being achieved in the building, a new investor can realize a cap rate over 11% and cash returns approaching 25%.
Madison, which features an abundance of retail and public transit options. The building is also just blocks from Interstate 290, as well as, the Laramie Green Line CTA Station for an easy commute downtown. 5100 W. Madison is a mixed-use building, made up of eighteen (18) atypically large apartments and one (1) retail unit. The building is comprised of: five (5) 2BD/1BA, seven (7) 3BD/1BA, six (6) 3BD/2BA & one (1) retail tenant. All units are incredibly spacious. Under current ownership, the building has been fully renovated cosmetically and mechanically. Improvements include but are not limited to: electric baseboard heating, copper plumbing, updated electric service, newer windows, and a newer 100G water heater. From day one, a new investor will realize an in-place cap rate of 10% and cash returns exceeding 17%. By raising rents to a rate already being achieved in the building, a new investor can realize a cap rate over 11% and cash returns approaching 25%.
Property Facts
| Price | $1,400,000 | Building Class | C |
| Price Per Unit | $58,333 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 23,552 SF |
| Cap Rate | 11.05% | Average Occupancy | 8% |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | C1-2 | ||
| Price | $1,400,000 |
| Price Per Unit | $58,333 |
| Sale Type | Investment |
| Cap Rate | 11.05% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 23,552 SF |
| Average Occupancy | 8% |
| No. Stories | 3 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | C1-2 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
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Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-09-425-039-0000 | Improvements Assessment | $83,500 |
| Land Assessment | $8,670 | Total Assessment | $92,170 |
Property Taxes
Parcel Number
16-09-425-039-0000
Land Assessment
$8,670
Improvements Assessment
$83,500
Total Assessment
$92,170
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5100-5104 W Madison St
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