Property Overview

Interra Realty has been exclusively engaged to market 5124-32 S. Kimbark Ave. for sale. The subject investment property is a 44-unit courtyard condominium building located in Chicago's historic Hyde Park neighborhood. The current offering, pending condominium board approval, is the bulk sale of 44 condominium units. The property consists of thirty-one (31) 1 BD/ 1 BA units, eight (8) 2 BD/ 1 BA units, four (4) 2 BD/ 2 BA units and (1) 3 BD/ 2 BA unit.

All units feature spacious layouts with exposed brick, individual HVAC, in-unit hot water heaters, in-unit laundry, dishwashers, and a range of kitchen and bathroom finishes. In addition, the building offers ample bike storage, close proximity to public transportation, and is within walking distance of local retail on 53rd Street and The University of Chicago campus.

The offering presents a new owner with the opportunity to acquire a rarely available property in one of Chicago's most coveted submarkets that has historically low sales velocity and long average hold periods.

Highlights

  • Ideal Hyde Park Location Steps From Public Transportation, 53rd Street Retail Corridor & University of Chicago Campus
  • Courtyard Building With Attractive Unit Mix and Vintage Charm
  • Condo De-Conversion Opportunity Subject To Board Approval

Key Details

TRANSACTION DATE
2022
LOT SIZE
0.41 Acres
NUMBER OF UNITS
44
CAP RATE
5.55%
SUBMARKET
Hyde Park
MAJOR INTERSECTION
51st St. & Kimbark Ave.