- 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
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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
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Contacts
Location
Getting Around
-
Walk Score ®
70/100 Very Walkable -
Transit Score ®
54/100 Good Transit -
Bike Score ®
78/100 Very Bikeable
- City Chicago, IL
- Neighborhood Oakland
- Zip Code 60653
- Market Chicago
Points of Interest
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35th-Bronzeville-IIT
1.40 miles
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35th-Bronzewille-IIT (34th Street Entrance)
1.44 miles
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51st-53rd Street (Hyde Park)
1.56 miles
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Garfield
1.90 miles
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55th-56th-57th Street
2.08 miles
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Cermak-McCormick Place
2.48 miles
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63rd Street
2.89 miles
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Halsted
2.93 miles
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Ashland
3.43 miles
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UIC-Halsted (Halsted Street)
4.43 miles
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BP
0.79 miles
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Citgo
1.45 miles
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Mobil
1.51 miles
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GoLo
1.57 miles
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ChargePoint
2.18 miles
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eVgo
3.74 miles
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Blink
3.75 miles
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Tesla Supercharger
3.86 miles
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EVgo
4.53 miles
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Blink ParkChip Garage - 1035 Van Buren
4.66 miles
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31st Street Harbor Parking
1.05 miles
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31st St Parking
1.24 miles
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McCormick Place Truck Marshing Yard
1.47 miles
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Vue53 garage
1.51 miles
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Player Lot
1.60 miles
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Lot L
1.65 miles
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Bus Parking
1.65 miles
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Amber Inn Motel
1.00 miles
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Chicago Lake Shore Hotel
1.39 miles
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Sophy Hotel
1.59 miles
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Hyatt Place Chicago-South/University Medical Center
1.60 miles
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Wyndham Chicago McCormick Hotel
2.12 miles
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Hyatt Regency McCormick Place
2.30 miles
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The Study at the University of Chicago
2.44 miles
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Hilton Garden Inn, Hampton Inn, & Home2 Suites
2.44 miles
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Marriott Marquis
2.45 miles
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SpringHill Suites Chicago Chinatown
2.49 miles
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Cleo's Southern Cuisine
0.27 miles
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Surf's Up Bronzeville
0.31 miles
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Just Turkey Grill
0.37 miles
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Mr. Captain Hook
0.37 miles
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Bronzeville Winery
0.44 miles
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Reggio's Pizza
0.47 miles
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Popeyes
0.73 miles
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De Rice
0.73 miles
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McDonald's
0.74 miles
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Uncle Remus
0.78 miles
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Holy Angels Catholic School
0.25 miles
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Jackie Robinson Elementary School
0.33 miles
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Jacob H. Carruthers Center for Inner City Studies
0.36 miles
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King College Prep
0.41 miles
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James Farmer Jr. Elementary School
0.46 miles
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Former Holy Angels School
0.48 miles
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Woodson Elementary School
0.49 miles
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Donoghue Elementary School
0.53 miles
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Christ the King Lutheran School
0.59 miles
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Well Home
0.69 miles
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UChicago Child Development Center - Drexel
1.91 miles
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The Goddard School
2.60 miles
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KinderCare
3.13 miles
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Child's World Academic Inc.
3.47 miles
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A Child’s Space
3.59 miles
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DJ Brooks Child Development Center
3.65 miles
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Shiloh Nursery
3.81 miles
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Blocks Child Care Center
3.96 miles
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Ada S. McKinley, Ersula Howard Child Care Center
4.40 miles
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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
Michael Finch
SVN | SFRhub Marketplace