4201-4209 S Michigan Ave
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4201-4209 S Michigan Ave
21 Unit Apartment Building $6,440,823 CAD ($306,706 CAD/Unit) 7% Cap Rate Chicago, IL 60653
INVESTMENT HIGHLIGHTS
- Interest Rate: 4.95% Maturity Date: 04/01/2029
- Current Principal Balance: $3,442,000.00
- Debt Service Coverage Ratio (DSCR) 1.4
- Original Loan Amount: $3,771,000.00
- Cash on Cash: (COC) 7.8%
- Loan To Value (LTV) 77%
EXECUTIVE SUMMARY
SVN is pleased to present a 21-unit renovated Multifamily building located in Bronzeville. The unit mix consists of (15) 2 Bed 2 Bath units and (6) 3 Bed 2 Bath Duplex units. All units have been updated with newer kitchen and baths. The apartments are very spacious and equipped with hardwood flooring, high-end appliances and in-unit laundry. Capital improvements consist of newer electrical service, newer in-unit furnaces and water tanks, newer roof and newer windows.
PROPERTY FACTS
| Price | $6,440,823 CAD | Building Class | C |
| Price Per Unit | $306,706 CAD | Lot Size | 0.37 AC |
| Sale Type | Investment | Building Size | 23,460 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 21 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1894/2006 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | $6,440,823 CAD |
| Price Per Unit | $306,706 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 23,460 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1894/2006 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 1,164 |
| 2+2 | 12 | - | 1,460 |
| 2+2.5 | 1 | - | 1,460 |
| 3+2 | 3 | - | 2,100 |
| 3+2.5 | 1 | - | 2,100 |
| 3+3 | 3 | - | 2,100 |
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 20-03-120-033-0000 | Improvements Assessment | $356,830 CAD |
| Land Assessment | $81,260 CAD | Total Assessment | $438,090 CAD |
PROPERTY TAXES
Parcel Number
20-03-120-033-0000
Land Assessment
$81,260 CAD
Improvements Assessment
$356,830 CAD
Total Assessment
$438,090 CAD
ZONING
| Zoning Code | R5 (Medium High Density Multiple-Family Residential District) |
| R5 (Medium High Density Multiple-Family Residential District) |
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4201-4209 S Michigan Ave
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