Interra Realty has been exclusively engaged to market 5454 S. Everett Ave, Chicago, for sale. The subject investment property is a 32-unit, “4+1” style multifamily building with four stories of apartments over ground floor parking in East Hyde Park. The property is situated at the end of a dead-end street, within walking distance of the lakefront, Metra station, Trader Joe’s, and the 53rd Street retail corridor. The University of Chicago and UChicago Medicine are also walkable and remain strong
drivers for the neighborhood.

The 1968 construction building was substantially renovated in 2008 with updated building systems, improved building envelope, and modern apartment finishes. All apartments feature in-unit stackable laundry. The property offers 13 garage and 7 surface spaces, both in high demand in the submarket.

A new investor has the opportunity to acquire a high-quality, well-managed multifamily asset in a strong Hyde Park location. The property can be acquired at a basis below what it would cost to acquire the vintage version of the asset and renovate it to this standard. Additionally, in-place rents are more than 7% below market levels, offering immediate upside without further renovation.