Property Overview

Interra Realty has been exclusively engaged to market 4400 S. Drexel Boulevard for sale. Located in Chicago's historic Kenwood neighborhood on scenicDrexel Boulevard, the subject investment property is comprised of 46 apartments. The property is a corridor style apartment building with high curb appealand attractive architecture. In addition, the property is walking distance to the University of Chicago, the 53rd street retail corridor and the new 120,000 sqft Northwestern Medicine outpatient care facility.

Fully gut rehabbed in 2021/22, the unit mix at the property is comprised of one and two bedroom apartments, all with identical fi nishes. All apartmentsfeature a modern aesthetic with stainless steel appliances, dishwashers and in-unit stackable washers and dryers. All units feature individual temperaturecontrol in each room via ductless mini split systems and on demand hot water via high effi ciency tankless hot water heaters.

The property presents qualified investors with a unique opportunity to own a stabilized, recently gut rehabbed apartment building while gaining immediatescale in a submarket currently experiencing substantial growth. The terms of the existing mortgage on the property are a balance of $8,900,000, 5.9%(interest only through November 2027) and December 2032 maturity. The mortgage must be assumed, which entails a 1% fee + legal review fees.


  • Full Gut Renovation Completed in 2021/2022
  • Large Unit Layouts and Market Leading Finishes
  • Attractive Assumable Debt with Interest Only Period Remaining
  • 35% Assessment Reduction Until 2031 Approved ThroughAHSAP; Two (2) 10 Yr Extension Options
  • 100% Occupied by CHA Housing Choice Voucher Tenants

Key Details

Number of Units
Forty-Six (46)
Sale Price