5322 W Washington Ave 16 Unit Apartment Building $2,823,055 CAD ($176,441 CAD/Unit) 11.04% Cap Rate Chicago, IL 60644

Kiser Group is pleased to exclusively present for purchase 5322 W. Washington, a sixteen (16) unit walkup located in Chicago's historic Austin neighborhood. The building is conveniently situated roughly three (3) blocks from the CTA Laramie Green Line station and less than a mile from Interstate 290, offering immediate access to downtown Chicago. Additionally, the property is located roughly four (4) blocks from the sizable Columbus Park that contains fields, pools, and a golf course.
5322 W. Washington has an incredibly desirable unit composition and is currently comprised of three (3) 3Bd/1Ba units, nine (9) 2Bd/1Ba units, and three (3) 1Bd/1Ba units, all of which are newly renovated. The building underwent an extensive renovation throughout 2025-2026. During 5322 W. Washington's renovation, capital improvements consist of, but are not limited to: New Water Heater, Roof Updates, New Windows, New Stainless Steel Appliances, New In-Unit Furnaces, New Copper Plumbing including a New Main Line to the Street, and Updated Finishes in the Kitchens and Bathrooms.
From day one, a new investor will realize an in-place cap rate of 11.04% and cash returns exceeding 21%. Through improved leasing and raising rents to levels already being achieved in the building, a new investor will be able to realize a cap rate of 12.56% and cash returns over 27%. The asset is also AHSAP approved, which reduces the tax liabilty by 25% over the next 30 years. With recent renovations complete and a strong subsidized tenant base in place, the property provides a solid foundation for long-term ownership and operational success.