5400-08 W. MADISON ST. & 8-14 N. LONG AVE.
Property Overview
Interra Realty has been exclusively engaged to present for sale 5400-5408 W. Madison Ave. & 8-14 N. Long Ave. The subject property is a 27 unit mixed-use asset located in Chicago's South Austin neighborhood. The courtyard along Long Ave. features 19 units consisting of 1 and 2 Bedroom unit layouts and the mixed use asset along Madison Ave. features 4 apartments consisting of 3 and 4 bedrooms overtop 4 commercial store front.
20/23 apartment units have been renovated featuring newer kitchens, baths, and flooring. The property has been outfitted with furnaces in 3/23apartments.
A qualified investor has the opportunity to acquire a sizeable asset in an appreciating neighborhood located off a prominent commercial thoroughfare with a diverse unit mix and the ability to significantly drive NOI through the remaining lease up of the 3 vacant store fronts.
Highlights
- Highly Desirable Unit Mix: Retail+ 1, 2, 3, & 4 bedroom layouts
- 20+ units have seen cosmetic updates featuring kitchens, baths, andfl ooring.
- Capex improvements include tuckpointing and roof maintenance
- Located off Main Commercial Thoroughfare with high storefront visibility
- Ability to drive NOI through leasing of commercial store fronts.
- Long standing tenant Ma3dison Food Mart under lease through 2026