4943 South Forrestville AvenueChicago, IL 60615Price: $1,985,000

  • Price: $1,985,000
  • 24 Days on Market
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Federal 30-year interest rate: 3.09% last updated on Oct 21, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 9,798Square Feet
  • 1907Year Built

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Keller Williams Commercial has been exclusively engaged to market Bronzeville Residences at 4943-45 S Forrestville. This 8 - unit multifamily property located in the historic Bronzeville neighborhood, of Chicago, IL features remodeled, condo quality units and a stabilized tenant base. The asset consists of (8) two bedroom two bath units with premium finishes. Unit amenities include hardwood floors throughout, 42" maple cabinetry with islands, granite countertops and premium appliance packages that include dishwashers, in-unit washers and dryers, individually metered HVAC, and private rear balconies. The building has benefited from many recent capital improvements including updated rear porches, plumbing, heating and electrical systems. Other features include a gated front and rear entry, 8 secured parking spaces, two backup generators and an underground sprinkler system. This asset gives an investor the ability to acquire a stabilized well located, fully occupied and renovated property with risk adjusted returns from day one. By raising rents to market levels, this Bronzeville asset offers its next owner the opportunity to reach a 7.24 cap rate and achieve a 12.80% levered return as units turn.

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Listed by Travis Montgomery and Anthony Hardy of Keller Williams ONEChicago

Based on information submitted to MRED  as of October 28, 2021 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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