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Kenmore East Apartments 5417 N Kenmore Ave 65 Unit Apartment Building $10,000,000 ($153,846/Unit) 6.40% Cap Rate Chicago, IL 60640
Investment Highlights
- Strong Location in Dynamic Edgewater Neighborhood
- Recently Modernized Lobby and Hallways
- Professionally Managed and Well-Maintained
- Spacious Studio and One Bedroom Layouts
Executive Summary
Interra Realty has been exclusively engaged to market 5417 N. Kenmore Avenue, Chicago, for sale. The subject investment property is a 65 unit, mid-rise multifamily asset in the Edgewater Neighborhood.
The property has been well-maintained by professional ownership and management. The lobby and common areas just experienced a transformative modernization with new tile, paint, and lighting. The apartments are a mix of spacious studio and one bedroom layouts, with rental quality finishes.
The property offers investors optionality of value-add business plans. It is being offered for sale to qualified investors free-and-clear of existing debt.
The property has been well-maintained by professional ownership and management. The lobby and common areas just experienced a transformative modernization with new tile, paint, and lighting. The apartments are a mix of spacious studio and one bedroom layouts, with rental quality finishes.
The property offers investors optionality of value-add business plans. It is being offered for sale to qualified investors free-and-clear of existing debt.
Property Facts
| Price | $10,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $153,846 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.40% | Building Size | 34,950 SF |
| Gross Rent Multiplier | 10.17 | Average Occupancy | 100% |
| No. Units | 65 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | R-6, Chicago | ||
| Price | $10,000,000 |
| Price Per Unit | $153,846 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 10.17 |
| No. Units | 65 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 34,950 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 1926 |
| Zoning | R-6, Chicago |
Amenities
Unit Amenities
- Heating
- Kitchen
- Hardwood Floors
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 54 | $1,143 | 400 |
| 1+1 | 11 | $1,464 | 550 |
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Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 14-08-206-009-0000 | Improvements Assessment | $406,097 |
| Land Assessment | $74,625 | Total Assessment | $480,722 |
Property Taxes
Parcel Number
14-08-206-009-0000
Land Assessment
$74,625
Improvements Assessment
$406,097
Total Assessment
$480,722
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Kenmore East Apartments | 5417 N Kenmore Ave
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