5450 S. Indiana Avenue Opportu
- 27 Units
This stately brick building features large 2 and 3-bedroom apartments.
Three of the units have already received fresh turns with granite counter tops, tile floors in the kitchen and bathrooms and refinished hardwood floors throughout the rest of the apartment. The other units will be brought up to the same level as part of stabilization.
This well-maintained building's electrical and plumbing systems and its roof are all newer.
The property offers an on-site laundry. All the units have separated utilities, so each pays its own heat, reducing the operating cost for the owner. The building's porches are steel.
Seven of the building's thirteen units will be targeted for CHA voucher tenants.
The property is situated in Chicago’s desirable Humboldt Park neighborhood.
Set on a tree-lined residential street, the property is just four blocks from historic 187-acre Garfield Park with its lagoons, baseball and soccer fields, tennis and basketball courts, swimming pool, playgrounds and ice skating rink. The park's Golden Dome houses an Olympic-sized gymnasium, gymnastic and fitness centers, a boxing ring, and a theater.
The building is near restaurants, shops, schools and churches, and very convenient to public transportation. It is easy walking distance to the Pulaski and Conservatory/Central Park Drive Green Line El stops, as well as to the Kedzie metrarail station. There are also multiple bus stops nearby.
Our analysis indicates that the property will generate more than enough revenue to cover mortgage payments on the building as well as all of the property's operating expenses, and still return positive cash flow. This is why we consider this multi-unit building to be an excellent investment opportunity.
The property is priced at $1,300,000.
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