6244 South King Dr Chicago, IL 60637
147-unit multifamily property with retail component in up-and-coming West Woodlawn.
Property size:
78,000 SFProperty Features for 6244 South King Dr
General Information
- Size
- 78,000 SF
Source:
33realty
Listing Agent: Sean Connelly
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
West Woodlawn Multifamily Investment Opportunity
Located in West Woodlawn, this 4-story mid-rise apartment building at 6244 South King Drive contains 140 units and one retail unit. The property is situated on 0.18 acres at the intersection of E 63rd and S MLK Dr, directly below the King Drive CTA green line stop. The unit mix includes six studio small efficiency/1-bedroom units (approximately 200 SF), six studio efficiency/1-bedroom units (approximately 320 SF), seven studio TF/1-bedroom units (approximately 320 SF), ninety-five studio/1-bedroom units (approximately 350 SF), thirteen studio large/1-bedroom units (approximately 430 SF), five studio small/1-bedroom units (approximately 350 SF), eight 2-bedroom/1-bathroom units (approximately 1,000 SF), and one retail unit (approximately 7,500 SF). The property is located in a dynamic neighborhood experiencing reinvestment, with the Obama Presidential Center and Woodlawn Central development nearby. The property is positioned along King Drive, offering access to the surrounding area. Additional features include coin laundry on-site and proximity to Washington Park and Dulles Elementary School. The building is a boiler building and is close to I-90/94. There is potential to convert office space into additional units. The property has a 9.28% Cap Rate and a total of 147 units.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.616112
- Latitude
- 41.780562
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 147-unit multifamily property with retail component in up-and-coming West Woodlawn.
Where is this apartment building located?
The property is located at 6244 South King Dr Chicago, IL.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: - Prime location in the up-and-coming Woodlawn neighborhood, benefiting from major investments.; - Convenient access to downtown via the King Drive CTA Green Line stop, located directly adjacent to the property.; - High-performing asset with strong cash flow and potential to increase rents.