Eight-Unit Multifamily
For Sale
$1,275,000
5616 S Michigan Ave, Chicago, IL 60637
Eight-unit multifamily property with six larger 4Bd/2Ba units and two 2Bd/1Ba units, with individual HVAC systems.
Property Size8,772 SF
Days on Market106
Property Features for 5616 S Michigan Ave
General Information
Standard status
Active
Size
8,772 SF
Property subtype
Multifamily
Additional Details
Cap Rate
9%
Multifamily Units
8
Building Details
Building Size
8,772 SF
Year Built
1905
Listing Agency:
Kiser Group
Listed By:
Aaron Sklar · License #IL #475161507
(773) 293-5032
Source:
Kisergroup
Added: Jul 8
Changed: Oct 8
Last Checked: Oct 20 at 5:59PM
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
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Investment Insights
Based on property information with market context.
5616 S. Michigan is an eight-unit multifamily building with six 4-bedroom, 2-bath units and two 2-bedroom, 1-bath units. The apartments are described as having open floor plans, with kitchens that include granite countertops and stainless steel appliances, along with modern bathrooms featuring custom finishes.
Capital improvements noted include copper plumbing, updated porches, and individual HVAC systems for the units.
This property is being offered for sale as an income-producing asset with in-place performance noted by the seller as an in-place cap rate exceeding 9%.
Capital improvements noted include copper plumbing, updated porches, and individual HVAC systems for the units.
This property is being offered for sale as an income-producing asset with in-place performance noted by the seller as an in-place cap rate exceeding 9%.
Key Highlights
- 8‑unit multifamily building built in 1905
- Unit mix: six 4Bd/2Ba units and two 2Bd/1Ba units
- Capital improvements include copper plumbing and updated porches
Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
771
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property with six larger 4Bd/2Ba units and two 2Bd/1Ba units, with individual HVAC systems.
Where is this apartment building located?
The property is located at 5616 S Michigan Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 8‑unit multifamily building built in 1905; Unit mix: six 4Bd/2Ba units and two 2Bd/1Ba units; Capital improvements include copper plumbing and updated porches
