5410 S Indiana Avenue
Chicago, IL 60615

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Description

Nestled in the heart of Chicago's rapidly growing Washington Park neighborhood, this fully occupied, six-unit building offers a blend of stable cash flow and exceptional future potential. Located near the University of Chicago and the expansive Washington Park, this property is positioned to benefit from the area's ongoing development, including the future Obama Presidential Center. With property values steadily rising, this investment represents a rare opportunity for savvy investors. Boasting a classic stone facade and a grand marble entryway, this well-maintained building exudes timeless charm. Each of the six spacious 3-bedroom, 1-bath units spans 1,800 square feet, featuring high ceilings, formal dining rooms, real pantries, private back decks, and beautiful bay windows that flood the interiors with natural light. Hardwood floors and well-kept common areas add to the appeal, ensuring tenant satisfaction and full occupancy. Additionally, the building generates extra income through coin-operated laundry facilities and offers gated parking with a two-car brick garage. With a solid history of long-term tenants, this property is a proven income generator. For investors looking to maximize returns, there is untapped potential in the lower level, where a 7th and possibly 8th unit could be developed, both areas have ingress and egress access. Updates include a 2011 boiler to enhance the property's efficiency. The seller is open to discussing owner financing terms provided the seller is in first position with collateral, thereby expanding this armchair investment opportunity to the widest pool of entrepreneurs. This is your chance to make this Washington Park money maker work for you.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60615
• Year Built: 1892
• Sq.Ft.: 14,841 sq ft
• Stories: 3
• Units: 6 units
• Zoning: MULTI
• # Of Dryers: 2
• # Of Ranges: 6
• # Of Refrigs: 6
• # Of Washers: 2
• Approximate Age: Older
• Building Area Total: 14841
• Built Before 1978 (Y/N): Yes
• Cap Rate: 10.4
• Construction Materials: Brick, Stone
• Directions: East on Garfield Ave. North on Indiana to 5410 S.
• Electric: Circuit Breakers, Separate Meters
• Electric Expense: 714
• Electric Expense Source: Actual
• Expense Year: 2024
• Fire Protection: Smoke or Fire Protectors
• Fuel Expense: 6170
• Fuel Expense Source: Actual
• Gross Income: 123036
• Gross Rent Multiplier: 7.97
• Gross Scheduled Income: 123036
• Heat/Ventilation: Central Bldg Heat, Gas, Radiators, Steam
• Information: 48-Hr Notice Required
• Janitor Expense: 225
• Main Type: Commercial Sale
• Maintenance Expense: 3487
• Operating Expense: 11969
• Other Expense: 2797
• Other Expense Source: Actual
• Ownership Type: Limited Partnership
• Repairs-Decor Expense Source: Actual
• Roof Structure: Flat
• Tax Annual Amount: 9078.34
• Tax Year: 2023
• Tenant Pays: Electricity
• Total Annual Expense Source: Actual
• Total Monthly Income: 10253
• Trash Expense: 1345
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Utilities: Sewer Connected
• Water Expense Source: Actual
• Water Sewer Expense: 3739
• Water Source: Municipal Water