About 4220 South Michigan Avenue
4220 S. Michigan is a 26-unit property located Chicago's historic Bronzeville neighborhood. The asset is ideally situated on a beautiful, tree-lined street just blocks away from Metcalfe Park, providing easy access I-90 and Chicago's downtown. 4220 S. Michigan is comprised of an incredibly desirable unit mix, consisting of one (1) studio, seven (7)2BD/1BA, and eighteen (18) 3BD/1BA units. All Units are incredibly spacious and have gone through updates both cosmetically and mechanically. Recent improvements to the building includes but are not limited to, newer roofs, renovated kitchens & bathrooms, in-unit HVAC, and copper plumbing. 4220 S. Michigan provides investors with the unique opportunity to obtain a stabilized, cash flowing asses in one of Chicago's most rapidly appreciating neighborhoods. From day one, an investor will realize an in-place cap rate over 6.05% and a cash return of just under 7%. Additionally, an investor has the option to assume the existing debt (terms below) through Freddie Mac. 4220 S Michigan Ave: - $2,464,000 - 3.67% Rate -2 Years Remaining
Features of 4220 South Michigan Avenue
| MLS® # | 11976342 |
|---|---|
| Price | $4,450,000 |
| Bathrooms | 0.00 |
| Acres | 0.00 |
| Year Built | 1916 |
| Type | Commercial Sale |
| Sub-Type | Multi Family 5+ |
| Status | Active |
Community Information
| Address | 4220 South Michigan Avenue |
|---|---|
| Area | CHI - Grand Boulevard |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60653 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Has Basement | No |
Additional Information
| Days on Market | 96 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Kiser Group Realty Inc |
|---|