Bronzeville 8.0% Cap Rate Deal

4626-28 S. Calumet,
Chicago, IL 60653

7 Unit Condo De-Conversion in Hot Bronzeville

$875,000
Offering Price
7
Number of Units
$125,000
Price Per Unit
10,400
Building SF
7.97%
Cap Rate
6,250
Land SF
$875,000
Offering Price
7
Number of Units
$125,000
Price Per Unit
10,400
Building SF
7.97%
Cap Rate
6,250
Land SF

Investment Summary

  • Atlas Asset Management Realty is pleased to present, for sale, 4626-28 S. Calumet Avenue, a 7-unit condo de-conversion opportunity in Chicago's Bronzeville neighborhood. A mid-2000s condo conversion, the property's unit mix is below: 6 3bed/1.5bath 1 3bed/2.5bath Each unit features hardwood floors, granite countertops, stainless steel appliances, separate gas-forced heat and central air conditioning. The property is currently operating as a condominium building, with seven individual PINs. The de-conversion process is underway. Investors can operate the Subject property as a multifamily investment with healthy monthly cash flow or exit the investment through the sale of individual condos on a retail basis. Comparable condo units in the area are selling for $165,000 to $175,000 each.
FOR MORE DETAILS CONTACT
Michael Tolliver
Broker
(312) 617-8095
michael@atlasmanagementcorp.com
Edward N. Bluemel II
Senior Associate
(630) 709-3581
edward@atlasmanagementcorp.com