5414 S Ingleside Ave 6 Unit Apartment Building For Sale Chicago, IL 60615

Presented by Midwest Investment Advisors | KW Commercial & Keller Williams
Call for Offers | Hyde Park Portfolio
Midwest Investment Advisors is pleased to present a rare value-add investment opportunity in Chicago’s highly sought-after Hyde Park neighborhood. This 53-unit multifamily portfolio consists of three properties—5442 S. Harper Avenue (32 units), 1418 E. Hyde Park Boulevard (15 units), and 5414 S. Ingleside Avenue (6 units)—all ideally located within proximity to the University of Chicago, the lakefront, and major transit corridors. The portfolio offers scale, a defined repositioning strategy, and significant upside through interior renovations and a dual-market leasing model. Investors are invited to submit offers with guidance available upon request.
A total renovation budget of $2,650,000 has been allocated to upgrade 53 of the 53 units, creating a clear path to unlocking full market rent potential and increasing net operating income. The renovation scope includes unit modernizations, common area improvements, and cosmetic enhancements aimed at elevating the rental profile across all three properties. Upon completion of renovations and lease-up, the portfolio is projected to achieve a minimum pro forma cap rate of 10%+, representing a substantial return in a prime urban submarket with rising demand and constrained inventory.
The leasing strategy incorporates a blended approach, targeting both subsidized and market-rate tenants. Of the 53 units, 19 are currently vacant, and 16 of those—approximately 30% of the total portfolio—could qualify for the Chicago Housing Authority’s (CHA) Mobility Program. This program supports tenants transitioning into high-opportunity areas like Hyde Park and allows landlords to receive premium voucher-based rents backed by guaranteed monthly payments. By utilizing the CHA Mobility Program for eligible units, investors can stabilize a large portion of the portfolio quickly with dependable income. The remaining 70% of the units are positioned for full market-rate lease-up, maximizing rental upside and cash flow diversity.
Each property within the portfolio contributes unique value. 5442 S. Harper Avenue includes 31 studio apartments and one 1-bedroom unit, with 12 vacant studios available for immediate renovation. 1418 E. Hyde Park Boulevard offers a mix of one- and two-bedroom units with strong rent growth potential following interior upgrades. 5414 S. Ingleside Avenue consists of larger two- and three-bedroom apartments, which present further upside through natural lease turnover and strategic re-leasing.
With its combination of scale, location, and built-in leasing strategy, this Hyde Park multifamily portfolio is ideally suited for experienced value-add investors seeking double-digit returns in one of Chicago’s most resilient and appreciating rental submarkets. Full financials, CHA Mobility Program details, and offer submission instructions are available upon request.