Property Overview
Interra Realty has been exclusively engaged to market 5115 S. Drexel Blvd. for sale. The subject property is an eight (8) unit multi-family building located in the highly desirable sub-market of Hyde Park on Chicago's southside. The front-to-back building boasts large apartments: (3) 3Bdr/2Ba Units, (3) 2Bdr/2Ba Units, and (2) 2Bdr/1Ba Garden Units. The basement grade units have both been gut renovated and feature stainless steel appliances, granite countertops, and sleekly finished units--both are currently operated as an Airbnb. The six (6) above grade units are in more of a vintage format and could take on a further renovation to provide the owner the ability to further increase rents in order to achieve stronger returns. The building is currently professionally managed and operated and is offered free and clear of any existing debt.
Highlights
- Highly Sought After Hyde Park Location
- Desirable Unit Mix: (3) 3Bdr/2Ba, (3) 2Bdr/2Ba, and (2) 2Bdr/1Ba Layouts
- Value-Add Potential in Renovating Six Above Grade Apartments
- Units Feature Individual HVAC and In-Unit Laundry
- Building Being Offered Free and Clear of any Existing Debt