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5610 S Michigan Ave 7 Unit Apartment Building $800,000 ($114,286/Unit) Chicago, IL 60637
Investment Highlights
- Strong unit mix consisting of oversized (6) four-bedroom units and (1) two-bedroom unit.
- Individual furnaces.
- Laundry facilities on-site.
- Attractive vintage architecture with stone façade and marble entryway.
- Opportunity to increase NOI through operational efficiencies and future rent growth.
- Located near the University of Chicago, Hyde Park, and the Museum of Science and Industry.
Executive Summary
Essex Realty Group, LLC has been exclusively engaged to market for sale a 7-unit multifamily property located at 5610 S. Michigan Avenue in Chicago’s Washington Park neighborhood. The well-maintained vintage walk-up consists of spacious (6) four-bedroom units and (1) two-bedroom unit featuring hardwood floors, high ceilings, abundant natural light, individual furnaces, and open living/kitchen layouts. The property also features a stone façade, marble entryway, updated plumbing and electrical systems, and on-site laundry facilities. The property is currently 86% occupied and offers investors strong in-place income with clear operational and leasing upside. Additional value can be created through leasing the vacant unit, improving operational efficiencies, and capturing future rental growth as units turn over. Located near Hyde Park, the University of Chicago, and the Museum of Science and Industry, the property benefits from strong rental demand and continued neighborhood investment, offering investors stable cash flow with long-term appreciation potential.
Property Facts
| Price | $800,000 | Building Class | C |
| Price Per Unit | $114,286 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 10,000 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1895 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | R2 | ||
| Price | $800,000 |
| Price Per Unit | $114,286 |
| Sale Type | Investment |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 10,000 SF |
| No. Stories | 3 |
| Year Built | 1895 |
| Opportunity Zone |
Yes |
| Zoning | R2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 4+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 20-15-108-027-0000 | Improvements Assessment | $54,825 |
| Land Assessment | $24,675 | Total Assessment | $79,500 |
Property Taxes
Parcel Number
20-15-108-027-0000
Land Assessment
$24,675
Improvements Assessment
$54,825
Total Assessment
$79,500
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5610 S Michigan Ave
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