Active
4220 S Michigan Avenue
Chicago IL, 60653
$4,450,000
Active
Commercial
Built in 1916
Courtesy of Kiser Group Realty Inc
4220 S. Michigan is a 26-unit property located Chicago's historic Bronzeville neighborhood. The asset is ideally situated on a beautiful, tree-lined street just blocks away from Metcalfe Park, providing easy access I-90 and Chicago's downtown. 4220 S. Michigan is comprised of an incredibly desirable unit mix, consisting of one (1) studio, seven (7)2BD/1BA, and eighteen (18) 3BD/1BA units. All Units are incredibly spacious and have gone through updates both cosmetically and mechanically. Recent improvements to the building includes but are not limited to, newer roofs, renovated kitchens & bathrooms, in-unit HVAC, and copper plumbing. 4220 S. Michigan provides investors with the unique opportunity to obtain a stabilized, cash flowing asses in one of Chicago's most rapidly appreciating neighborhoods. From day one, an investor will realize an in-place cap rate over 6.05% and a cash return of just under 7%. Additionally, an investor has the option to assume the existing debt (terms below) through Freddie Mac. 4220 S Michigan Ave: - $2,464,000 - 3.67% Rate -2 Years Remaining
11976342
MLSⓇ ID
February 7, 2024
Listed
May 9, 2024
Updated
Map
4220 S Michigan Avenue
Chicago IL, 60653
Other Property Details
Area Name
CHI - Grand Boulevard
Taxes
$37,539
Tax Frequency
Annually
Days on Market
42
Garage
No
View
No
County
Cook
Pool
No
Courtesy of Kiser Group Realty Inc, John George,
Listing Contact: 773-293-5056
The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Premier Chicago Real Estate are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
Based on information submitted to the MLS GRID for MRED 5/9/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
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Data last updated 8:09 AM UTC, 5/9/2024
