5833 South Michigan Ave Chicago, IL 60637
Eight-unit multifamily property in Chicago's Washington Park neighborhood.
Property size:
9,375 SFProperty Features for 5833 South Michigan Ave
General Information
- Size
- 9,375 SF
Source:
33realty
Listing Agent: Liam Moore
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Washington Park Multifamily Investment Opportunity
Located in the Washington Park neighborhood of Chicago, IL, the property at 5831-33 S Michigan Avenue features eight units. The unit mix includes three 2-bed/2-bath and five 3-bed/2-bath apartments, designed in a condo style with spacious layouts. Each unit is equipped with gas forced air heat, individual water heaters, in-unit washer/dryer, and 100 AMPS of electricity. A surface parking lot secured by an electronic gate is located behind the building, accommodating parking for 10 vehicles. The parking lot is not currently monetized. The property is situated on a quiet residential street near the intersection of South Michigan Avenue and East 59th Street. The location provides easy access to I-94, which is a mile to the east. The units are in excellent condition, and the property was gut renovated within the past 10 years. The property is located in a highly sought-after neighborhood, a sister community to Hyde Park, with proximity to Lake Michigan, beaches, golf courses, nightlife, and the University of Chicago. Public transportation is easily accessible via the Metra, CTA Green Line, Red Line, Lakeshore Drive, and the Dan Ryan Expressway. The new Obama Center is under construction a 10-minute car ride away. There is the ability to raise rents an additional $150-$250 on each unit without significant renovations.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
GEISHA’S BOUTIQUE LLC
Clothing Store
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6218277
- Latitude
- 41.7883167
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Eight-unit multifamily property in Chicago's Washington Park neighborhood.
Where is this apartment building located?
The property is located at 5833 South Michigan Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: - Excellent condition of units and ideal unit mix with three 2 bed/2 bath & five 3 bed/2 bath.; - Potential to increase rents by $150-$250 per unit.; - Enjoy the convenience of in-unit washer and dryer in every unit.