4954 South King DriveChicago, IL 60615Price: $2,575,000

  • Price: $2,575,000
  • 42 Days on Market
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Federal 30-year interest rate: 6.29% last updated on Sep 22, 2022
* 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.
  • 1925Year Built

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One-of-A-Kind Legacy Investment Opportunity set in Vibrant Bronzeville on Historic King Drive Offering 90%+ controlling majority stake. NOI $149,939 represents 65% Stabilized Contiguous corner comprised of 14 residential units + + with significant separate 17 car secured parking lot offers abundant choice for numerous investment objectives. Intelligent design, expansive and diverse floorplans, unit mix offering includes but not limited to (5) extraordinary, sprawling 6 room 2 bedroom 2 baths (3) unbelievably enormous 3 bedroom 3 baths simplexes. Superior attention to detail in all aspects realized in high tenant retention rates. Refined living, endless appointments with unsurpassed opulence, premium millwork, professional grade kitchens, fireplaces, resort inspired bathrooms, individual HVAC, washer dryers in unit, custom closets, window treatments, dimmers, designer lighting, full slab and mitered edging are a soft sampling of the exhausting list of unit features. Apartment reviews yielded a maintenance level rarely encountered. Sale is inclusive of immediately adjacent @ 4945 S Calumet (behind 4954-58 King) expertly over-engineered 17 car parking lot, cement paved, lined, remote secured access, professionally landscaped with irrigation system prep. Parking System built-out with full plans and permits for permitted use. Palpable expansion opportunities for 2-3 ADU's. Center entry side by side 6 unit @350 E 50th. This value add hybrid requires complete renovation , all 2-bedroom 2.1 Bath inclusive of architectural plans designed as 8 envisioning 2 additional units below grade.The opportunity to scale further can be packaged with neighboring fully stablized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP and/or 4953-55 S Calumet Center Entry 8 units + 8 parking spaces. NOI $126,532 / 6.9 CAP Meticulous attention to detail in all aspects from skilled scaled veteran ownership team. Transparent, comprehensive scope of work, capital improvements rent roll, lease schedules and full financials available on request. Exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. 48 hours notice to show. Rare opportunity to obtain a sizeable AA turnkey footprint strategically positioned for continue long term growth. See Agent Remarks for additional information

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Listed by Karen Biazar and Staci Slattery of North Clybourn Group,Inc.

Based on information submitted to MRED  as of September 26, 2022 . 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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