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5637 Prairie ave - New Construction 3-unit in Washington Park 3 Unit Apartment Building Offered at $1,049,000 at a 7.63% Cap Rate Chicago, IL 60637
EXECUTIVE SUMMARY
Gorgeous NEW Construction 3-unit in Booming Washington Park. Set alongside multiple other New Developments, this is 6 weeks from completion. Built by an experienced local builder and includes 1 year developer's warranty. Contemporary & Modern design with the perfect blend of city living and convenience, close to the Green Line just a short walk away and the University of Chicago and Obama Library. Each unit has a spacious, open-concept layout and condo quality features, such as 42" cabinets, stainless steel appliances, recessed lighting, in unit laundry, and beautifully tiled floors. Each unit is a large, over 1,500 sq ft 3 bed/ 2 bath, with a luxury master bathroom at the rear. The units will rent easily and proforma rents are $8,400/month. Top unit features a vaulted ceiling and decorative railings for an added touch of luxury. Additionally, the developer added soundproofing for added privacy. Prime investment opportunity, positioned for cash flow, appreciation and creating generational wealth in this high inflation environment. Can arrange property management for any out-of-state buyers.
PROPERTY FACTS
| Price | $1,049,000 | Building Size | 4,500 SF |
| Price Per Unit | $349,667 | Average Occupancy | 0% |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 7.63% | Year Built | 2025 |
| No. Units | 3 | Parking Ratio | 0.67/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise |
| Price | $1,049,000 |
| Price Per Unit | $349,667 |
| Sale Type | Investment |
| Cap Rate | 7.63% |
| No. Units | 3 |
| Property Type | Multifamily |
| Apartment Style | Mid-Rise |
| Building Size | 4,500 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 0.67/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 3 | $2,850 | 1,500 |
1 1
Walk Score®
Very Walkable (73)
Transit Score®
Excellent Transit (73)
Bike Score®
Very Bikeable (70)
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5637 Prairie ave - New Construction 3-unit in Washington Park
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