114 Unit Chicago South Side Portfolio
Property Overview
The properties feature a desirable and diverse unit mix of studio, one, two and three bedroom apartments. The properties are professionally managed and have experienced an array of recent capital improvements to building exteriors, systems and units.
The portfolio offers new investors the ability to realize immediate economies of scale in two Chicago submarkets positioned for continued appreciation while offering superior returns compared to other core neighborhoods. There also remains additional upside in rent levels. All three properties must be purchased together.
The current mortgage on the properties is assumable with a 1% fee plus/legal review fees: ~ approx. balance as of 12/1/2023 - $5,929,624, 3.29% rate and 1/1/2033 maturity.
Key Details
Transaction Date
2024
Number of Units
One Hundred-Forteen (114)
Submarktets
South Shore & Woodlawn