350 E 50th Street
Chicago, IL 60615

Tools & Resources:

Description

Investor Opportunity in Historic Bronzeville | 6 Fully Rehabbed Luxury Condos with a solid Cap Rate. Rare chance to own a stabilized, income-producing portfolio of six (6) individual 2BD/2.5BA condos within a 15-unit building-each with its own PIN. The units feature modern, open floor plans with high-end finishes, stainless steel appliances, in-unit laundry, and central air. Located near Hyde Park, University of Chicago, Rush Medical, and the lakefront. Ideal for long-term hold or individual resale. Capitalize on Chicago's surging South Side market with this plug-and-play investment.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60615
• Year Built: 1929
• Stories: 3
• Units: 6 units
• Basement: Unfinished
• Fireplace: 6
• # Of Dishwashers: 6
• # Of Dryers: 6
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Washers: 6
• # Of Window/Ac: 6
• Additional Parcels: Yes
• Approximate Age: Older
• Association Fee Includes: Water, Insurance, Lawn Care, Scavenger, Snow Removal, Other
• Building Unit Info: Smoke/Alarm Detector, Some Units Furnished
• Built Before 1978 (Y/N): Yes
• Cap Rate: 9.98
• Construction Materials: Brick, Stone
• Cooling: Central Air
• Directions: From 47th and King Drive, South to 50th, 1/4 Block W to property
• Electric: Circuit Breakers, Service - 0 to 100 Amps
• Expense Year: 2024
• Foundation Details: Concrete Perimeter, Stone, Other
• Gross Income: 163800
• Gross Scheduled Income: 163800
• Heat/Ventilation: Individual Furnaces
• Information: 24-Hr Notice Required, No Sign on Property
• Insurance Expense: 1704
• Insurance Expense Source: Owner Projection
• Known Encumbrances: None Known
• Land Amenities: Curbs and Gutters, Sidewalks, Other
• Location: Corner, Public Transport Avail
• Main Type: Commercial Sale
• Manager Expense: 3576
• Manager Expense Source: OP
• Misc Outside: Balcony/ies, Enclosed Stairs
• Operating Expense: 8880
• Other Expense: 1800
• Other Expense Source: Owner Projection
• Owners Assoc (Y/N): Yes
• Ownership Type: Condo
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 20190
• Tax Year: 2023
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 13650
• Township: Hyde Park
• Type Multi-Family: Condo/Townhouse
• Virtual Tour Date: 2025-03-07T14:06:13
• Water Source: Municipal Water