- For Sale $965,000
- Property Type Multi-Family
- Property Size 10,000 SF
- Units 0
- Additional Rent Contact for pricing
- # of Floors 3
- Building Class C
- Date Updated Jun 30, 2024
5610 S. Michigan Avenue, Chicago, IL 60637
Key Details:
Building Type: Multifamily
Units: 7 total
(4) units: 4-bedroom
(2)units: 3-bedroom
(1) unit: 2-bedroom
Listing Price: $965,000
Net Operating Income (NOI): $77,980
Capitalization Rate (Cap Rate): 8.08%
Location & Market Insights
The property is situated in a vibrant area of Chicago with ongoing urban development, making it highly desirable for potential renters. It is conveniently located near essential amenities such as grocery stores, restaurants, schools, and parks, which enhance the quality of life for residents. Additionally, its proximity to major transit routes ensures easy commutes, making it an ideal location for working professionals. The neighborhood boasts various cultural attractions, further adding to its appeal. The tenant demographics are diverse, ranging from families to young professionals, reducing the risk of vacancies. Market trends indicate that the cap rate aligns well with average rates in the area, signaling a well-priced investment opportunity relative to its income generation potential.
Investment Highlights
Investing in this property offers the potential for a steady income stream due to its diverse unit mix, which reduces vacancy risk and increases rental appeal. The competitive cap rate of 8.08% reflects a strong return on investment. Additionally, the property's proximity to ongoing developments supports long-term capital growth, offering prospects for value appreciation. The building's potential for rental rate increases and improved occupancy rates adds to its investment appeal. Its strategic location enhances its desirability for potential renters and supports stable demand, making it an excellent choice for those looking to expand their real estate portfolio with a multifamily residence that provides immediate rental returns and promising long-term capital growth prospects.
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Contacts
Location
Getting Around
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Walk Score ®
80/100
Very Walkable
-
Transit Score ®
72/100
Excellent Transit
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Bike Score ®
66/100
Bikeable
- City Chicago, IL
- Neighborhood Washington Park
- Zip Code 60637
- Market Chicago
Points of Interest
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Garfield
0.29 miles
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King Drive
0.93 miles
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Halsted
1.45 miles
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55th-56th-57th Street
1.81 miles
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State & 37th Street
2.41 miles
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Stony Island
2.57 miles
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35th-Bronzeville-IIT
2.69 miles
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Western
3.28 miles
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South Shore
3.50 miles
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Halsted
3.99 miles
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Super Save
0.17 miles
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Amstar
0.38 miles
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Mobil
0.49 miles
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GoLo
0.65 miles
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BP
0.92 miles
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ChargePoint
0.95 miles
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Mobil
1.01 miles
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BP
1.14 miles
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Mobil
1.28 miles
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Citgo
1.30 miles
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Garfield Park & Ride
0.31 miles
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Medical Campus Parking Garage B
0.89 miles
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Medical Campus Parking Garage A
0.93 miles
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Parkiing / Mat Mgmt
0.94 miles
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Campus South Parking
1.07 miles
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Campus North Parking Garage
1.15 miles
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Lexington Parking Lot
1.33 miles
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Dorchester Parking Lot
1.73 miles
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Lot L
2.31 miles
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Ashland/63rd Park & Ride
2.32 miles
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Best Motel
1.24 miles
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The Study at the University of Chicago
1.51 miles
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Sophy Hotel
1.69 miles
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Hyatt Place Chicago-South/University Medical Center
1.84 miles
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Chicago Lake Shore Hotel
2.13 miles
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Amber Inn Motel
2.13 miles
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Empire Motel
2.68 miles
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Chicago South Loop Hotel
3.66 miles
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South Shore Motel
3.68 miles
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SpringHill Suites by Marriott Chicago Chinatown
3.99 miles
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Burger King
0.17 miles
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Harold's Chicken Shack
0.17 miles
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McDonald's
0.18 miles
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Dunkin'
0.24 miles
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Church's Chicken
0.37 miles
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Checkers
0.42 miles
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Pizza Hut Delivery
0.44 miles
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Taco Bell
0.51 miles
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Wendy's
0.53 miles
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Skidoe's Café & Grill
0.68 miles
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Carter School of Excellence
0.18 miles
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ACE Technical Charter High School
0.30 miles
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Burke Elementary School
0.45 miles
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Beasey Academy
0.50 miles
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Sherwood Elementary School
0.50 miles
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Former Ross Elementary School
0.53 miles
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Chicago Baptist Institute
0.70 miles
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Educare Chicago
0.73 miles
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Former Parkman Elementary School
0.78 miles
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Walter H. Dyett High School
0.81 miles
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UChicago Child Development Center - Drexel
0.97 miles
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DJ Brooks Child Development Center
2.50 miles
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Ada S. McKinley, Ersula Howard Child Care Center
3.60 miles
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Kenyatta's Day Care and Learning Center
3.67 miles
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Brighton Park Early Learning Center
4.34 miles
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The Goddard School
4.35 miles
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Daycare
5.60 miles
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Taylor Tots
5.68 miles
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New Zion Childcare Academy
5.71 miles
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Shining Star Child Development
5.79 miles
Frequently Asked Questions
How much does 5610 S. Michigan Residences cost?
The space currently listed for sale at 5610 S. Michigan Residences asks for $965,000.
What is the total square footage of 5610 S. Michigan Residences?
5610 S. Michigan Residences totals 10,000 square feet.
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