Luxury Apartments of Washington Park 5526 S Indiana Ave 8 Unit Apartment Building $1,940,000 ($242,500/Unit) 8.47% Cap Rate Chicago, IL 60637

This eight-unit, condo-quality multifamily building delivers a 10.06% cash-on-cash return and an 8.47% cap rate. Located in an Opportunity Zone, the new owner may qualify for significant tax benefits. The red-brick and limestone building sits just 0.2 miles from the CTA Green Line station and a two-minute walk from the bus stop. Legendary Washington Park is two blocks away, with the University of Chicago on its opposite edge. Within a five-minute drive you’ll find restaurants, a Jewel-Osco, clinics, and fast-food options.
Each of the eight spacious units—alternating three- and two-bedroom layouts—is finished to condominium standards and features an independent furnace, in-unit washer and dryer, a designated parking space at the rear, and private storage. Recent upgrades include a digital anti-theft door-lock system and CCTV security cameras. Meticulously maintained, this property consistently attracts long-term, quality tenants thanks to its convenient location and nice finishes.