Renovated 24-Unit Apartment
For Sale
Contact for pricing
6553 S King Dr, Chicago, IL 60619
Completely renovated 24-unit apartment building in the W. Woodlawn area.
Property SizeContact for details
Days on Market688
Property Features for 6553 S King Dr
General Information
Standard status
Active
Class
C
Property subtype
Multifamily
Zoning
C1-2
Investment Type
Institutional
Net Operating Income
$119,578
Building Details
Year Built
1908
Year Renovated
2022
Buildings
1
Stories
3
Units
24
Listing Agency:
Pearson Realty Group
(773) 325-2800
Listed By:
David McLennan · License #IL 475165323
Source:
Crexi
Added: Oct 6, 2024
Changed: Aug 16
Last Checked: Aug 23 at 10:34AM
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 Pearson Realty Group
Investment Insights
Based on property information with market context.
This solid brick, 24-unit walk-up apartment building is located in the W. Woodlawn area and features a desirable unit mix of all 2-bed/1-bath units. The property was gutted down to the bricks and completely renovated a few years ago, including a new roof, new copper plumbing, new electrical, and new gas lines. Each unit was rehabbed with hardwood floors, new walls, new kitchens and bathrooms, new windows, in-unit circuit breakers, and individual gas forced air furnaces. There are four separate entrances, one on S. King Drive and the other three on 66th St., each featuring exposed brick walls and a skylight. Four separate basement entrances are accessible through the rear courtyard, and one basement has a laundry area with 2 washers and 2 dryers for tenant use. The Woodlawn area has seen tremendous change over the past few years, with the soon to be completed Obama Presidential Library located 2 miles east of the property. Just across 66th street, the Rev. Corey Brooks and his Project H.O.O.D. are building the new 85,000 sq. ft. Robert R. McCormick Leadership and Economic Opportunity Center. This new community center will teach trades, entrepreneurship, music, and arts and will also house a swimming pool and have other athletic facilities. The CTA green line stop is located 2 blocks north of the property, and the CTA #3 bus line runs north and south down King Drive.
Key Highlights
- Completely renovated building with new roof, copper plumbing, electrical, gas lines, hardwood floors, kitchens, and bathrooms.
- Desirable unit mix of 24 units, all 2 bed/1 bath.
- Close proximity to the future Obama Presidential Library.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Explore this area
Business Placement
Demographics for 60619, IL
63,303
Population
33,547
Households
1.9
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
10,378
Density / Sq Mi
$43,403
Median Household Income
$35,672
Median Earnings
$1,054
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Completely renovated 24-unit apartment building in the W. Woodlawn area.
Where is this apartment building located?
The property is located at 6553 S King Dr Chicago, IL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Completely renovated building with new roof, copper plumbing, electrical, gas lines, hardwood floors, kitchens, and bathrooms.; Desirable unit mix of 24 units, all 2 bed/1 bath.; Close proximity to the future Obama Presidential Library.
