101615 . Dynamic Tri-plex BFR Chicago, IL

101615 . Dynamic Tri-plex BFR Chicago, IL, Chicago, IL 60653

  • For Sale $29,700,000
  • Property Type Multi-Family
  • Property Size 109,350 SF
  • Units 81
  • Lot Size 4.13 Acre
  • Additional Rent Contact for pricing
  • Year Built 2024
  • Date Updated Jun 24, 2024
Bronzeville, located on Chicago’s South Side, holds a significant place in African American history and culture. Once known as the “Black Metropolis,” it was a thriving center of African American life and culture during the Great Migration. Today, Bronzeville continues to be a vibrant and evolving community with a rich heritage and promising future. Bronzeville’s economy has seen fluctuations over the years, but recent efforts have focused on revitalization and economic development. The neighborhood has seen investments in local businesses, community organizations, and infrastructure projects. The Bronzeville Community Development Partnership and other initiatives aim to promote economic growth, create jobs, and attract new businesses to the area. The town has undergone significant redevelopment efforts in recent years, aimed at preserving its historic character while fostering growth and investment. The city has invested in affordable housing initiatives, mixed-use developments, and streetscape improvements. The Bronzeville Lakefront, a proposed development project, seeks to enhance the neighborhood’s lakefront access and create new recreational and commercial opportunities. Bronzeville is home to several educational institutions that play a vital role in the community. The neighborhood is served by Chicago Public Schools, with a mix of traditional public schools, charter schools, and magnet programs. Notable institutions include the Walter H. Dyett High School for the Arts and the Bronzeville Classical Elementary School. Additionally, the Illinois Institute of Technology’s campus is located nearby, offering higher education opportunities for residents. The rich cultural heritage and historic landmarks make it a compelling destination for tourists and visitors. The neighborhood boasts numerous sites of historical significance, including the Victory Monument and the DuSable Museum of African American History. Visitors can explore Bronzeville’s vibrant arts scene through galleries, theaters, and music venues that showcase the talents of local artists and performers. The neighborhood also hosts events such as the Bronzeville Art District Trolley Tour and the Bronzeville Summer Nights series, which celebrate the community’s culture and creativity. In conclusion, Bronzeville is a neighborhood with a storied past and a promising future. Its economic revitalization efforts, ongoing city development projects, and educational opportunities contribute to its resilience and growth. As a cultural destination with a wealth of historic landmarks and artistic offerings, Bronzeville continues to attract visitors and residents alike who appreciate its rich heritage and vibrant community spirit.

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Highlights

  • New construction tri-plex homes in high growth Bronzville Chicago submarket
  • Excellent opportunity to purchase 81 homes in 27 buildings at Certificate of Occupancy
  • Opportunity to purchase completed, fully leased buildings (2) and soon to be delivered buildings
  • All homes will be finished by Q3 of 2024
  • Opportunity to purchase all 27 buildings in bulk or purchase in smaller bulk packages of two or more buildings
  • Quality, high end condo finishes throughout
  • All 3 bedroom 2 bathroom, 1350/sf homes with 1 detached garage per home
  • Access Green Line, employment, entertainment and lakefront
  • Chicago market poised for strong rental growth of 14.5% though 2027 according to John Burns
  • Home value appreciation projected at 11.5% through 2027
  • Per home stabilized rental rates conservatively projected at $2729 per month
  • Two buildings currently leased, most recent rental rate is $2595, only 5% below projected stabilized rents
  • Conservative 6.67% cap rate at Stabilized NOI after all buildings leased and operating
  • Annual Gross Rents at Year 1 modeled at $2,501,788, its anticipated lease up rents will surpass projected stabilized rents as buildings come online in Q2 & Q3 this year, further driving net stabilized NOI growth
  • Year 5 disposition shows strong 24.58% IRR assuming 5% exit
  • Flexible disposition strategies available pending market conditions
  • All SVN® Offices Independently Owned & Operated
  • Local Broker License Information: www.SFRhub.com/realestatelicensing

Contacts

broker

Michael Finch

SVN | SFRhub Marketplace

Location

Getting Around

  • Walk Score ®

    70/100 Very Walkable
  • Transit Score ®

    54/100 Good Transit
  • Bike Score ®

    78/100 Very Bikeable
Powered by Walk Score ®
  • City Chicago, IL
  • Neighborhood Oakland
  • Zip Code 60653
  • Market Chicago

Points of Interest

  • 35th-Bronzeville-IIT

    1.40 miles

  • 35th-Bronzewille-IIT (34th Street Entrance)

    1.44 miles

  • 51st-53rd Street (Hyde Park)

    1.56 miles

  • Garfield

    1.90 miles

  • 55th-56th-57th Street

    2.08 miles

  • Cermak-McCormick Place

    2.48 miles

  • 63rd Street

    2.89 miles

  • Halsted

    2.93 miles

  • Ashland

    3.43 miles

  • UIC-Halsted (Halsted Street)

    4.43 miles

  • BP

    0.79 miles

  • Citgo

    1.45 miles

  • Mobil

    1.51 miles

  • GoLo

    1.57 miles

  • ChargePoint

    2.18 miles

  • eVgo

    3.74 miles

  • Blink

    3.75 miles

  • Tesla Supercharger

    3.86 miles

  • EVgo

    4.53 miles

  • Blink ParkChip Garage - 1035 Van Buren

    4.66 miles

  • 31st Street Harbor Parking

    1.05 miles

  • 31st St Parking

    1.24 miles

  • McCormick Place Truck Marshing Yard

    1.47 miles

  • Vue53 garage

    1.51 miles

  • Player Lot

    1.60 miles

  • Lot L

    1.65 miles

  • Bus Parking

    1.65 miles

  • Amber Inn Motel

    1.00 miles

  • Chicago Lake Shore Hotel

    1.39 miles

  • Sophy Hotel

    1.59 miles

  • Hyatt Place Chicago-South/University Medical Center

    1.60 miles

  • Wyndham Chicago McCormick Hotel

    2.12 miles

  • Hyatt Regency McCormick Place

    2.30 miles

  • The Study at the University of Chicago

    2.44 miles

  • Hilton Garden Inn, Hampton Inn, & Home2 Suites

    2.44 miles

  • Marriott Marquis

    2.45 miles

  • SpringHill Suites Chicago Chinatown

    2.49 miles

  • Cleo's Southern Cuisine

    0.27 miles

  • Surf's Up Bronzeville

    0.31 miles

  • Just Turkey Grill

    0.37 miles

  • Mr. Captain Hook

    0.37 miles

  • Bronzeville Winery

    0.44 miles

  • Reggio's Pizza

    0.47 miles

  • Popeyes

    0.73 miles

  • De Rice

    0.73 miles

  • McDonald's

    0.74 miles

  • Uncle Remus

    0.78 miles

  • Holy Angels Catholic School

    0.25 miles

  • Jackie Robinson Elementary School

    0.33 miles

  • Jacob H. Carruthers Center for Inner City Studies

    0.36 miles

  • King College Prep

    0.41 miles

  • James Farmer Jr. Elementary School

    0.46 miles

  • Former Holy Angels School

    0.48 miles

  • Woodson Elementary School

    0.49 miles

  • Donoghue Elementary School

    0.53 miles

  • Christ the King Lutheran School

    0.59 miles

  • Well Home

    0.69 miles

  • UChicago Child Development Center - Drexel

    1.91 miles

  • The Goddard School

    2.60 miles

  • KinderCare

    3.13 miles

  • Child's World Academic Inc.

    3.47 miles

  • A Child’s Space

    3.59 miles

  • DJ Brooks Child Development Center

    3.65 miles

  • Shiloh Nursery

    3.81 miles

  • Blocks Child Care Center

    3.96 miles

  • Ada S. McKinley, Ersula Howard Child Care Center

    4.40 miles

  • LadyBug and Friends Daycare & Preschool

    4.51 miles

Frequently Asked Questions

How much does 101615 . Dynamic Tri-plex BFR Chicago, IL cost?

The space currently listed for sale at 101615 . Dynamic Tri-plex BFR Chicago, IL asks for $29,700,000.

What is the total square footage of 101615 . Dynamic Tri-plex BFR Chicago, IL?

101615 . Dynamic Tri-plex BFR Chicago, IL totals 109,350 square feet.

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Contact Listing Broker

broker

Michael Finch

SVN | SFRhub Marketplace