Madison 27 | 5400 W Madison St
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Madison 27 5400 W Madison St
27 Unit Apartment Building $2,748,350 CAD ($101,791 CAD/Unit) 8.91% Cap Rate Chicago, IL 60644
INVESTMENT HIGHLIGHTS
- Highly desirable unit mix of 1, 2, 3, & 4 bedroom layouts.
- Significant value add opportunity through increasing rental rates to market levels.
- Long standing tenant Madison Food Mart under lease through 2026.
- 20+ units have seen cosmetic updates featuring kitchens, baths, flooring.
- Ability to drive NOI through leasing of commercial store fronts off Madison Ave.
EXECUTIVE SUMMARY
Interra Realty has been exclusively engaged to present for sale 5400-5408 W. Madison Ave. & 8-14 N. Long Ave. The subject property is a 27 unit mixeduse asset located in Chicago's South Austin neighborhood. The courtyard along Long Ave. features 19 units consisting of 1 and 2 Bedroom unit layouts and the mixed use asset along Madison Ave. features 4 apartments consisting of 3 and 4 bedrooms overtop 4 commercial store front.
20/23 apartment units have been renovated featuring newer kitchens, baths, and flooring. The property has been outfitted with furnaces in 3/23 apartments.
A qualified investor has the opportunity to acquire a sizeable asset in an appreciating neighborhood located off a prominent commercial thoroughfare with a diverse unit mix and the ability to significantly drive NOI through the remaining lease up of the 3 vacant store fronts.
20/23 apartment units have been renovated featuring newer kitchens, baths, and flooring. The property has been outfitted with furnaces in 3/23 apartments.
A qualified investor has the opportunity to acquire a sizeable asset in an appreciating neighborhood located off a prominent commercial thoroughfare with a diverse unit mix and the ability to significantly drive NOI through the remaining lease up of the 3 vacant store fronts.
PROPERTY FACTS
| Price | $2,748,350 CAD | Apartment Style | Low Rise |
| Price Per Unit | $101,791 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 23,750 SF |
| Cap Rate | 8.91% | No. Stories | 3 |
| No. Units | 27 | Year Built | 1928 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $2,748,350 CAD |
| Price Per Unit | $101,791 CAD |
| Sale Type | Investment |
| Cap Rate | 8.91% |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 23,750 SF |
| No. Stories | 3 |
| Year Built | 1928 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 15 | - | - |
| 3+1 | 4 | - | - |
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Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 16-09-320-031-0000 | Improvements Assessment | $195,578 CAD |
| Land Assessment | $51,671 CAD | Total Assessment | $247,249 CAD |
PROPERTY TAXES
Parcel Number
16-09-320-031-0000
Land Assessment
$51,671 CAD
Improvements Assessment
$195,578 CAD
Total Assessment
$247,249 CAD
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Madison 27 | 5400 W Madison St
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