Bronzeville Multifamily Apartment
4725 South Michigan Avenue Chicago, IL 60615
4725 South Michigan Avenue, Chicago, IL, 60615
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For Sale
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Five-story, 28-unit multifamily asset with studio, 1-bedroom, and 2-bedroom apartments, elevator, and on-site parking.
Property Size21,200 SF
Lot Size0.31 Acres
Price / SF$202.83
Days on Market56
Property Features for 4725 South Michigan Avenue
General Information
- Standard status
- Active
- Size
- 21,200 SF
- Lot size
- 0.31 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1967
Listing agency
AW Properties Global
Listed by
Jeffrey Baasch · License #IL 475107724
Source
Crexi
Added: May 28 Updated: Jul 21 at 6:47PM Checked: Jul 22 at 5:47PM
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 AW Properties Global
Investment Insights
Based on property information with market context.
AW Properties presents a five-story, 28-unit multifamily apartment building in Chicago’s Bronzeville neighborhood. The unit mix includes two studio units, sixteen 1-bedroom 1-bath units, and ten 2-bedroom 1-bath units. The building is reported to be well maintained, and all units are described as being in good condition.
Amenities include a central boiler steam heating system and a passenger elevator. An on-site parking lot provides approximately 20 parking spaces. The property sits on an approximately 85’ x 160’ parcel and is zoned RM-5.
For sale as a well-occupied, stabilized multifamily asset, the property offers a diversified residential layout across studios, one-bedrooms, and two-bedrooms within a single 28-unit structure.
Amenities include a central boiler steam heating system and a passenger elevator. An on-site parking lot provides approximately 20 parking spaces. The property sits on an approximately 85’ x 160’ parcel and is zoned RM-5.
For sale as a well-occupied, stabilized multifamily asset, the property offers a diversified residential layout across studios, one-bedrooms, and two-bedrooms within a single 28-unit structure.
Key Highlights
- 5‑story, 28‑unit multifamily asset (built 1967) in Chicago’s Bronzeville neighborhood
- Unit mix includes 2 studios, 16 one‑bedroom/1‑bath units, and 10 two‑bedroom/1‑bath units
- Passenger elevator and central boiler steam heating system
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 | $623.3k | $29.40 |
| − Vacancy | −$32.4k | −$1.53 |
| EGI | $590.9k | $27.87 |
| − OpEx | −$265.9k | −$12.54 |
| NOI | $325.0k | $15.33 |
21,200 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.64M
$4.06M – $5.42M
NOI $324,978 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.00M
$8.75M – $11.66M
NOI $699,702 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-story, 28-unit multifamily asset with studio, 1-bedroom, and 2-bedroom apartments, elevator, and on-site parking.
Where is this apartment building located?
The property is located at 4725 South Michigan Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 5‑story, 28‑unit multifamily asset (built 1967) in Chicago’s Bronzeville neighborhood; Unit mix includes 2 studios, 16 one‑bedroom/1‑bath units, and 10 two‑bedroom/1‑bath units; Passenger elevator and central boiler steam heating system
