West Woodlawn Multifamily Investment
For Sale
$6,200,000
6244 South King Drive, Chicago, IL 60637
147-unit multifamily property with retail component in up-and-coming West Woodlawn.
Property Size78,000 SF
Lot Size0.18 Acres
Price / SF$79.49
Days on Market271
Property Features for 6244 South King Drive
General Information
Standard status
Active
Size
78,000 SF
Lot size
0.18 Acres
Property subtype
Multifamily
Site & Location
Neighborhood
Washington Park
Building Details
Building Size
78,000 SF
Listed By:
Sean Connelly
(773) 899-1334
Source:
33realty
Added: Jan 27
Changed: Oct 16
Last Checked: Oct 24 at 2:35PM
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 Sean Connelly
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Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
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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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Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
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 Drive 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.
