Property Overview

Interra Realty has been exclusively engaged to market 4625 S. Drexel Boulevard for sale. Located in Chicago's historic Kenwood neighborhood on scenicDrexel Boulevard, the subject investment property is comprised of 62 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 2020, the unit mix at the property is comprised of one and two bedroom apartments, all with identical fi nishes. All apartments featurea modern aesthetic with stainless steel appliances, dishwashers and in unit stackable washers and dryers. All units feature individual temperature control ineach room, delivered via ductless mini split systems in addition to on demand hot water delivered 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 $10,725,000, 3.32%(interest only through February 2026) and March 2031 maturity. The mortgage must be assumed, which entails a 1% fee + legal review fees.


  • Full Gut Renovation Completed In 2020
  • Spacious Unit Layouts and Market Leading Finishes
  • Attractive Assumable debt – 3.32% (interest only until 4/1/26, Maturesin 2031)
  • 35% Assessment Reduction Until 2029 Approved Through AHSAP;Two (2) 10 Yr Extension Options
  • Majority of Tenancy is CHA Housing Choice Voucher Tenants

Key Details

Sale Price
Number of Units
Sixty-Two (62)