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4348-4358 S Prairie Ave
Chicago, IL 60653
Multifamily Property For Sale
·
31 Units
INVESTMENT HIGHLIGHTS
- 31 units, 5 entrances, 125' X 160' lot
- Can be acquired as a portfolio of 4 properties.
EXECUTIVE SUMMARY
7.5 CAP Welcome to TPAL, The Prairie Ave Lofts, a Crown Jewel of the Bronzeville Collection spans 125 x 160.58 just under a 1/2 acre perfectly positioned on a prime corner in well located high growth Bronzeville 1/4 block to Green Line and Pendleton Park. An Iconic Classic Chicago All Masonry 31-unit prominent walk up with distinctive 5 entrances, steel rear decks, private all masonry entertainment size front terraces plus 19 gated parking spaces. A complete gut renovation, electric, plumbing, roof, windows, unit interiors with meticulous attention to detail . The development team embraced this extensive undertaking showcasing superior craftsmanship and attention to detail with fully documented capital improvements and have hit every metric of turnkey asset offering abundant choice for numerous investment objectives. TPAL is a true testament to timeless design and modern functionality. Expansive ,intelligent and diverse floor plans feature: (4) Stunning 3-bedroom, 2.5-bath duplexes that feel like single-family homes. (1) Spacious 4-bedroom, 2-bath simplex. (14) Elegant 2-bedroom, 2-bath units. (14) Highly sought-after 1-bedroom + den, 1-bath layouts. Fluid integration of endless details and appointments consistent throughout, Sophisticated open flow, professional modernist kitchens, full back splash, under cabinet lighting, quartz and granite, intricate tile applications, accessory niches, vessel sinks with banjo granite, hardwood floors laid on diagonal, exposed brick, premium mill work, individual HVAC, washer dryers in unit, custom closets organizers, window treatments, dimmers, hi style designer lighting, heated floors, private attached walk out entertainment size masonry terraces and oversized steel decking, common area rival boutique hotel luxury, skylights, commercial grade glass entry, art deco tile, professional grade art offer a branded lifestyle that resonates with discerning residents and a soft sampling of the exhausting list of building and unit features. Rarely vacant . An unparalleled investment opportunity.
PROPERTY FACTS
| Price Per Unit | $371,562 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 7.50% | Building Size | 36,000 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 99% |
| No. Units | 31 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | R-5 | ||
| Price Per Unit | $371,562 CAD |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 36,000 SF |
| Average Occupancy | 99% |
| No. Stories | 4 |
| Year Built | 1913 |
| Parking Ratio | 0.53/1,000 SF |
| Zoning | R-5 |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Handrails
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | $2,597 CAD | 785 |
| 2+2 | 12 | $2,838 CAD | 1,085 |
| 3+2.5 | 4 | $4,000 CAD | 1,585 |
| 4+2 | 1 | $3,640 CAD | 1,675 |
PROPERTY TAXES
| Parcel Number | 20-03-303-025-0000 | Improvements Assessment | $331,324 CAD |
| Land Assessment | $99,325 CAD | Total Assessment | $430,649 CAD |
PROPERTY TAXES
Parcel Number
20-03-303-025-0000
Land Assessment
$99,325 CAD
Improvements Assessment
$331,324 CAD
Total Assessment
$430,649 CAD
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