5825 Michigan Ave Chicago, IL 60637

This exceptional multifamily investment opportunity encompasses a portfolio of 103 units strategically located throughout Chicago's South Side neighborhoods. The portfolio comprises 14 buildings, including twelve 2-4 unit buildings, one 7-unit building, and one 10-unit building, totaling 91,510 square feet. The diverse unit mix includes 1-5 bedroom options, catering to a wide range of tenants. Specifically, there are nine 1-bedroom, 1-bathroom units; thirty 2-bedroom, 1-bathroom units; thirty-two 3-bedroom, 1-2 bathroom units; twenty-five 4-bedroom, 1-2 bathroom units; and two 5-bedroom, 1-2 bathroom units. Additionally, five commercial spaces averaging 1200 square feet are included. The portfolio also features 34 single-family homes, offering a variety of sizes and configurations, ranging from 2-bedroom, 1-bathroom homes averaging 1,000 square feet to 5-bedroom, 1-bathroom homes at 2,000 square feet. Currently, approximately 55% of the units are occupied under various subsidized programs, including CHA, HACC, Heartland, and Catholic Charities. This portfolio boasts a compelling 7.77% cap rate and offers a potential total return of up to 9.25% in the first year, based on a 75% loan-to-value ratio and a 7.3% interest rate. An existing loan with a 5.11% interest rate, a ten-year term expiring in 2029, and a thirty-year amortization period, is in place with an approximate balance of $6,500,000, and is assumable by a qualified buyer. The portfolio presents a strong value-add opportunity, with potential for individual sales of the single-family homes and smaller multi-unit properties, given the high demand from FHA buyers. The asking price for this exceptional portfolio is $8,240,000.