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6957 S Michigan Ave 25 Unit Apartment Building $2,267,200 CAD ($90,688 CAD/Unit) 10.33% Cap Rate Chicago, IL 60637
INVESTMENT HIGHLIGHTS
- Nine (9) Studios, Thirteen (13) 1Bd/1Ba, Three (3) 2Bd/1Ba
- Newer Porches
- Newer Hot Water Tank
- 10.33% Cap Rate
- Modern Boiler
- Updated Masonry and Tuckpointing
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively offer for purchase 6957 S. Michigan, a twenty-five (25) unit apartment building located in the Grand Crossing neighborhood of Chicago’s South Side. Sitting just north of Chatham, 6957 S. Michigan is located on a quiet block of Park Mano roughly three (3) blocks away from Chicago’s Red Line “El” train station at 69th and the Dan Ryan Expressway.
6957 S. Michigan is comprised of nine (9) studios, thirteen (13) 1Bd/1Ba, and three (3) 2Bd/1Ba units. Each unit consists of hardwood floors throughout. Recent improvements to the building consist of, but not limited to: newer porches, modern boiler, newer (2019) hot water tank, and an abundance of masonry and tuckpointing work.
6957 S. Michigan presents an investor an incredible opportunity to acquire a stabilized, cash flowing asset in Chicago’s Grand Crossing neighborhood. With the current operation from day one, an investor will realize over a 10.33% cap rate and a 18.58% cash return.
6957 S. Michigan is comprised of nine (9) studios, thirteen (13) 1Bd/1Ba, and three (3) 2Bd/1Ba units. Each unit consists of hardwood floors throughout. Recent improvements to the building consist of, but not limited to: newer porches, modern boiler, newer (2019) hot water tank, and an abundance of masonry and tuckpointing work.
6957 S. Michigan presents an investor an incredible opportunity to acquire a stabilized, cash flowing asset in Chicago’s Grand Crossing neighborhood. With the current operation from day one, an investor will realize over a 10.33% cap rate and a 18.58% cash return.
PROPERTY FACTS
| Price | $2,267,200 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $90,688 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 10.33% | Building Size | 24,000 SF |
| No. Units | 25 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | RS-3 | ||
| Price | $2,267,200 CAD |
| Price Per Unit | $90,688 CAD |
| Sale Type | Investment |
| Cap Rate | 10.33% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 24,000 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Zoning | RS-3 |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- Fitness Center
- Laundry Facilities
- Pool
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 9 | - | 600 |
| 1+1 | 13 | - | 750 |
| 2+1 | 3 | - | 850 |
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Walk Score®
Very Walkable (80)
Transit Score®
Excellent Transit (77)
PROPERTY TAXES
| Parcel Number | 20-22-314-019-0000 | Improvements Assessment | $149,230 CAD |
| Land Assessment | $13,956 CAD | Total Assessment | $163,187 CAD |
PROPERTY TAXES
Parcel Number
20-22-314-019-0000
Land Assessment
$13,956 CAD
Improvements Assessment
$149,230 CAD
Total Assessment
$163,187 CAD
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6957 S Michigan Ave
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