![A broker reciprocity listing](https://mrcooper-images.xometools.com/images/Common/brlogos/mred2.jpg)
$965,000
Calculate Payment
5610 S Michigan Avenue Chicago, IL 60637
General Commercial
Residence
Beds
Baths
...
Bed/Bath
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Key Details: Building Type: Multifamily Units: 7 total (4) units: 4-bedroom (2)units: 3-bedroom (1) unit: 2-bedroom Listing Price: $965,000 Net Operating Income (NOI): $77,980 Capitalization Rate (Cap Rate): 8.08% Location & Market Insights The property is situated in a vibrant area of... Chicago with ongoing urban development, making it highly desirable for potential renters. It is conveniently located near essential amenities such as grocery stores, restaurants, schools, and parks, which enhance the quality of life for residents. Additionally, its proximity to major transit routes ensures easy commutes, making it an ideal location for working professionals. The neighborhood boasts various cultural attractions, further adding to its appeal. The tenant demographics are diverse, ranging from families to young professionals, reducing the risk of vacancies. Market trends indicate that the cap rate aligns well with average rates in the area, signaling a well-priced investment opportunity relative to its income generation potential. Investment Highlights Investing in this property offers the potential for a steady income stream due to its diverse unit mix, which reduces vacancy risk and increases rental appeal. The competitive cap rate of 8.08% reflects a strong return on investment. Additionally, the property's proximity to ongoing developments supports long-term capital growth, offering prospects for value appreciation. The building's potential for rental rate increases and improved occupancy rates adds to its investment appeal. Its strategic location enhances its desirability for potential renters and supports stable demand, making it an excellent choice for those looking to expand their real estate portfolio with a multifamily residence that provides immediate rental returns and promising long-term capital growth prospects.
Continue reading
MLS#
12056555
Property Type
General Commercial
Year Built
1895
Receive an email as soon as the price changes
Receive an email
as soon as the price changes![price alerts icon](/images/recos/35012/icon-price-alerts.png)
Get Price Alerts
Don't miss your chance. Receive an email as soon as the price changes.
Enter your work address to view actual drive times with traffic for this property.
![INRIX Drive Time logo](/images/common/inrix/inrix_logo.png)
Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
How much home can I afford?
Kickstart your home search journey with our online Pre-Approval.
Nearby Homes For Sale
Just Listed
And
Homes Available
In
![megaphone icon](/images/recos/35012/icon-megaphone.png)
See How Much You Could Save
Thinking about buying or selling? Talk to one of our Mortgage Professionals today to see how much you could save on your next home. Call us at 833-981-2030.