6618 S Kenwood Ave 35 Unit Apartment Building $6,950,000 ($198,571/Unit) 7.52% Cap Rate Chicago, IL 60637

Kiser group is pleased to exclusively present for purchase 6610 S. Kenwood, a rarely available thirty-five (35) unit, center entrance courtyard in Chicago’s East Woodlawn neighborhood. The property sits directly South of Hyde Park and is just blocks away from the prestigious University of Chicago. Additionally, the asset is just blocks from the developing site of the Obama Presidential Library.
Sitting on a premier block, 6610 S. Kenwood is uniquely comprised of thirty-five (35) total units, all of which are incredibly spacious and feature an abundance of condo-quality upgrades. The unit mix is currently made up of fourteen (14) 3Bd/2Ba, one (1) 2Bd/2.5Ba, seventeen (17) 2Bd/2Ba, one (1) 2Bd/1.5Ba, and two (2) 1Bd/1.5Ba units. Units feature an open floorplan with hardwood flooring throughout, high-end kitchens with granite countertops and stainless steel appliances, and modern bathrooms with custom finishes. Additional improvements to the building include, but are not limited to: 100% copper plumbing, updated porches, individual HVAC & hot water tanks, and in-unit washer/dryers.
6610 S. Kenwood presents an investor the opportunity to acquire a rarely available courtyard building in one of Chicago’s fastest growing and rapidly expanding neighborhoods. Additionally, this opportunity presents immediate scale, and an investor will realize a positive, cash flowing asset from day one.
ASSUMABLE FINANCING: Buyer has the option to assume the current loan, approximate terms are:
- $6,562,000
- 3.775% Fixed until June 30, 2031