Chicago Multifamily Investment
For Sale
$1,000,000
5720 S Michigan Ave, Chicago, IL 60637
Prime Multifamily Investment Opportunity Near Washington Park, Chicago
Property Size8,000 SF
Lot Size0.18 Acres
Price / SF$125
Days on Market583
Property Features for 5720 S Michigan Ave
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
8,000 SF
Elevators
N/A
Lot size
0.18 Acres
Building Details
Buildings
1
Stories
3
Listing Agency:
(773) 293-5032
Listed By:
Aaron
(773) 293-5032
Added: Jan 17, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 8,000 square foot multifamily building is located in Chicago's Washington Park neighborhood. Situated on a 0.18-acre lot, the well-maintained property boasts a prime location, offering convenient access to public transportation, parks, diverse dining options, and cultural attractions. The building comprises ten or more spacious units, blending modern amenities with classic charm to create comfortable living spaces. Benefiting from strong rental demand and significant potential for value-added improvements, this property is an attractive prospect for long-term investors or developers. Its location within a revitalizing area promises exceptional future growth potential. The building's substantial size and desirable location contribute to its strong investment appeal. This is a rare chance to acquire a well-positioned multifamily asset in a rapidly developing Chicago neighborhood. The property's inherent value, coupled with the potential for further enhancements, makes it a highly sought-after investment. This opportunity is ideal for those seeking strong returns in a dynamic market.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Prime Multifamily Investment Opportunity Near Washington Park, Chicago
Where is this multifamily property located?
The property is located at 5720 S Michigan Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,000,000.
