Property Overview

Interra Realty has been exclusively engaged to market three core northside multifamily assets for sale. 5718 N. Winthrop Avenue and 6134 N. Kenmore Avenue, 74 and 40 units respectively, are located in Chicago’s Edgewater Neighborhood. 5051 N. Kenmore Avenue is located in the Uptown Neighborhood. The properties are available individually, in packages of two, or as a whole portfolio. All properties have separate, assumable Chase financing at interest rates well below prevailing market levels.

The three properties were all fully gut renovated between 2014-2015. The renovation included new building system, modern apartment finishes, and market-leading common area amenities. Every unit has tenant-paid heat and A/C and in-unit laundry equipment. Residents are prospective residents are greeted by welcoming lobbies that lead to well-appointed fitness centers. 6134 N. Kenmore Avenue also offers on-site parking, a valuable amenity in Edgewater.

The Seller’s professional management team have been great stewards of these assets, but have not realized the full potential of the rent rolls. As such, a buyer has the opportunity to acquire three core multifamily assets in high demand northside neighborhoods, with update in revenue and attractive in-place financing.

Highlights

  • Available Individually, In Smaller Packages, or As A Portfolio
  • Assumable Chase Financing at 3.63%
  • All Fully Gut Rehabbed Between 2014-2015
  • Tenant-Paid Heat & A/C + In-Unit Laundry
  • Professionally Managed with Rental Upside

Key Details

Portfolio Price
$24,200,000
5178 N. Winthrop Ave. - $11,000,000
5051 N. Kenmore Ave. - $5,300,000
6134 N. Kenmore Ave. - $7,900,000
Number of Units
144 Total Units
5178 N. Winthrop Ave. - 74 Units
5051 N. Kenmore Ave. - 30 Units
6134 N. Kenmore Ave. - 40 Units
Submarkets
Edgewater & Uptown
Cap Rates
5178 N. Winthrop Ave. - 5.64%
5051 N. Kenmore Ave. - 6.27%
6134 N. Kenmore Ave. - 5.98%
GRMs
5178 N. Winthrop Ave. - 10.2
5051 N. Kenmore Ave. - 10.0
6134 N. Kenmore Ave. - 10.3