5720 S Michigan Ave 6 Unit Apartment Building $1,125,000 ($187,500/Unit) 8.09% Cap Rate Chicago, IL 60637

Kiser Group is pleased to exclusively offer for purchase 5720 S. Michigan, a recently gut renovated six (6) unit building located in the Washington Park neighborhood of Chicago’s South Side. Sitting just blocks from Washington Park and bordering the prestigious Hyde Park community, the asset also sits just four (4) blocks away from the CTA Green Line ‘El Station,’ providing tenants easy, affordable, and quick transportation to and from Chicago’s Downtown.
5720 S. Michigan is has an incredibly desirable unit mix comprised of five (5) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. Units feature hardwood floors, new kitchens with stainless steel appliances and granite countertops, modern bathrooms with ceramic tile, and an abundance of natural light. Additionally, the building underwent a complete gut renovation in 2020, including, but not limited to, new electric service & wiring, copper plumbing, new porches, and individual HVAC units.
5720 S. Michigan provides an incredibly rare opportunity for an investor to acquire a true turn key investment in one of Chicago’s most appreciating neighborhoods just outside of Hyde Park. From day one, a new investor will capitalize on an incredibly strong tenant base with an in place cap rate exceeding 8% with an abundance of value add opportunities. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to further increase returns.