Courtesy of North Clybourn Group, Inc.

4954 S King Drive

Chicago, IL, 60615

$2,575,000

$2,575,000
Pending
Pending
 - For Sale
property_type
Commercial
calendar
Built 1925
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
MLS® ID:
11493045
Listed:
8/15/22
Updated:
12/8/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central Air

Exterior/Building Features

Roof
Membrane, Reflective Coating

Other Property Details

Area Name
CHI - Grand Boulevard
Taxes
$39859
Tax Frequency
per YEAR
Garage
No
Parking
N
Parking Total
17.0
View
N
County
Cook
Utilities
Sanitary Sewer, Water-Municipal
Pool
No
Total Stories
3
Zoning
MULTI

Property History

Date
Event
Price
Value
9/1/22
Pending
-
-

 

Courtesy of North Clybourn Group, Inc., Karen Biazar,
Listing Contact:  

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Data last updated 1:01 AM UTC, 12/8/22

 

 

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