3603 S King Dr Chicago, IL 60653
Well-maintained 24-unit building in Chicago's sought-after Bronzeville neighborhood.
- Added:
- May 25, 2026
- Days on Market:
- 51
- Last Refresh:
- May 27 at 8:25 am
Property Features for 3603 S King Dr
General Information
- Standard status
- Active
- Size
- 22,500 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1926
Listing office Kiser Group (773) 293-5032
Listing date May 25, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Kiser Group
Investment Insights
Based on property information with market context.
Key Highlights
- Prime location in the highly sought‑after Bronzeville neighborhood, minutes from downtown Chicago, public transportation, retail, and major employment hubs.
- Strong in‑place income with a 7.58% cap rate and 8.15% cash‑on‑cash return, offering a stable, cash‑flowing asset.
- Significant upside potential with projected cap rate of 9.15% and cash return of 14.45% through strategic rent increases and continued management.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $661.5k | $29.40 |
| − Vacancy | −$34.4k | −$1.53 |
| EGI | $627.1k | $27.87 |
| − OpEx | −$282.2k | −$12.54 |
| NOI | $344.9k | $15.33 |
