Chicago, IL 60637 5720 S Michigan Avenue

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Presented By: Kiser Group Realty Inc
  • MLS# 12162913
  • 09/11/2024
Disclaimer: The information contained in this listing has not been verified by Worth Clark Realty and should be verified by the buyer.
  • Beds • 5

Home Details

5720 S. Michigan is a recently gut renovated six (6) unit building located in the Washington Park neighborhood of Chicago's South Side. Sitting just blocks from Washington Park and bordering the prestigious Hyde Park community, the asset also sits just four (4) blocks away from the CTA Green Line 'El Station,' providing tenants easy, affordable, and quick transportation to and from Chicago's Downtown. 5720 S. Michigan is has an incredibly desirable unit mix comprised of five (5) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. All of which, however, feature hardwood floors, new kitchens with stainless steel appliances and granite countertops, modern bathrooms with ceramic tile, and an abundance of natural light. Additionally, the building underwent a complete gut renovation in 2020, including, but not limited to, new electric service & wiring, copper plumbing, new porches, and individual HVAC units. 5720 S. Michigan provides an incredibly rare opportunity for an investor to acquire a true turn key investment in one of Chicago's most appreciating neighborhoods just outside of Hyde Park. From day one, a new investor will capitalize on an incredibly strong tenant base with an abundance of value add opportunities. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to further increase .
Presented By: Kiser Group Realty Inc

General for 5720 S Michigan Avenue

Additional Parcels Y/NNo
CityChicago
CountyCook
Days on Market7
DirectionsFrom I-90/94, exit onto Garfield Blvd and turn east, right onto Michigan Ave to property.
Electric Expense1000
Fuel Expense500
Gross Income111492
Insurance Expense3000
MLS AreaCHI - Washington Park
MaintenanceExpense2500
Net Operating Income78982
NumberOfUnitsTotal6
Operating Expense28436
Property TypeCommercial Sale
Property TypeMulti Family 5+
Standard StatusActive
StatusActive
Stories3
Tax Annual Amount7840
Tax Year2022
Tenant PaysElectricity, Heat, Hot Water
Trash Expense1300
Water Sewer Expense4200
Year Built1906

Exterior for 5720 S Michigan Avenue

Lot Dimensions49' X 159'

Additional Details

Price History

Worth Clark

Price $1,090,000
MLS#12162913
List Date 09/11/2024
Property Type Multi-Family
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