5450 S. Indiana Avenue Opportu
- 27 Units
This superior three-story brick building features 16 two-bedroom/one-bath apartments, 6 one-bedroom/one-bath units, and 5 retail storefronts.
The building was completely gut-rehabbed in 2015. It received new electrical and plumbing throughout, and the large apartments now feature refinished hardwood floors, granite countertops, new cabinets and appliances.
Each unit has its own water heater and furnace, which are billed directly to the tenants -- reducing operating costs for the building's owner.
Light to moderate roof repairs and masonry corrections remain to be completed, but the majority of the rehab budget will go to building out the storefront retail units.
91% of the building's 22 apartments are currently rented and occupied. Going forward, half of the apartments will be targeted for CHA vouchers in order to maximize rental income.
This corner-lot building has a fantastic location: situated on a tree-lined street in Chicago's rapidly gentrifying Washington Park neighborhood.
The area is named for the 367-acre green space just three blocks away. Washington Park features a lagoon, aquatic center, arboretum and baseball, football, soccer and cricket fields. It is home to the Dyett High School for the Performing Arts, the DuSable Museum of African American History, and ground was recently broken on a new $9.8 million, 112,000 square foot tennis facility.
The property is close to shops and restaurants along the vibrant Garfield Boulevard corridor. The main campus of the University of Chicago lies directly across the park, along with the Midway Plaisance which links Washington Park to 500-acre Jackson Park, future home of the Obama Presidential Library.
The building is very convenient to public transportation, with a bus stop just outside the door and the Garfield Green Line L stop less than two blocks away. Both Soldiers Field, home of the Chicago Bears, and newly-named Guaranteed Rate Field, home of the Chicago White Sox, are just minutes away.
The total cost of the property is $3,050,000.
This is your opportunity to take advantage of a substantial equity position, improving cap rates, minimum cash outlay and tenants buying this high performing asset for you. And as always, the additional rehab activities by EquityBuild’s contractor teams are fully warrantied upon completion.
Call Now! (877) 978-1869 to find out more.
EquityBuild is a client advocate in a real estate world where we build life-long relationships to create turn-key solutions that consistently deliver double-digit returns. Real estate investment opportunities are carefully selected based on EquityBuild’s proprietary econometric model that identifies properties with strong upside and minimal risk. To learn more about EquityBuild and how you can invest directly in real estate with expert guidance and no landlord hassles please call (877) 978-1869.