4840 S Indiana Avenue
Chicago, IL 60615

More
Photos »

Tools & Resources:

Description

7.5 CAP Breathe Rare Air. The sellers of this property portfolio are not just seasoned investors; they are passionate visionary stewards with over 45 years of experience in branded high quality property development and management. Since 2007, they have meticulously curated each asset in the Bronzeville collection, focusing on longevity, quality, and the future potential of every investment. Every property reflects an unwavering commitment to excellence. From intelligent design choices to extensive renovations and improvements that prioritize durability, modernity, and lifestyle, they ensured no detail is overlooked. Their approach integrates a long-term vision with a hands-on philosophy, balancing aesthetic appeal and functionality while fostering strong tenant communities. A rare opportunity to obtain a sizeable AAA turnkey footprint from the best of the best. Welcome to 4834-46 S Indiana, An Exquisite, Curated, Panoramic Campus of the Bronzeville Collection spans 125 x 160.58 just over a 1/2 acre perfectly positioned in Dynamic Bronzeville. A Classic Chicago All Masonry 23 Unit walk up with 20 parking spaces. The development team embraced this extensive undertaking showcasing superior craftsmanship and attention to detail with fully documented capital improvements and have hit every metric of turnkey asset offering abundant choice for numerous investment objectives. The scope of renovation and notable documented capital improvements interior and exterior include but not limited to extensive masonry & concrete, roof and gutters, common area and lobbies, deck system, central heating system, parking lot design and development, artesian sculptured iron fencing, inspired botanical garden park like setting rivaling arboretum status, zoned irrigation system inclusive of grounds and parkway controlled by app, flagstone pavers, exotic tree placards emulating the Chicago Botanical Gardens listing the origin, name and year planted, custom designed and built outdoor BBQ and picnic tables, and bike room Unit Mix offers diverse floor plans for every price point (1) 3-bedroom 1 bath (16) 2- bedroom 1 bath (3) 1 bedroom 1 bath (3) Junior 1 bedroom 1 bath Fluid integration of endless details and appointments, bathed in natural light with panoptic vistas, offer rich transitional and modernist kitchens, quartz and granite, intricate tile applications, accessory niches, resort caliber baths, hardwood floors, premium mill work, central hot water heating system with individual a/c, washer dryers in unit, custom closets organizers, window treatments, dimmers, hi style designer lighting, use of all garden and grounds, the common area rival boutique hotel luxury complete with professional grade art offer a branded lifestyle that resonates with discerning residents and a soft sampling of the exhausting list of building and unit features. Rarely vacant An unparalleled investment opportunity 318,068.41k NOI Please see brokers private remarks for additional scaling opportunities.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60615
• Year Built: 1900
• Stories: 4
• Units: 23 units
• Basement: Finished
• Zoning: MULTI
• # Of Dishwashers: 23
• # Of Dryers: 23
• # Of Ranges: 23
• # Of Refrigs: 23
• # Of Washers: 23
• # Of Window/Ac: 23
• Additional Parcels: Yes
• Approximate Age: New Rehab
• Built Before 1978 (Y/N): Yes
• Cap Rate: 7.5
• Construction Materials: Brick, Stone
• Cooling: Window Unit(s)
• Directions: 49th to Indiana Ave, North on Indiana to property
• Electric: Circuit Breakers
• Electric Expense: 3948
• Electric Expense Source: Actual
• Expense Year: 2024
• Fire Protection: Fire Extinguisher/s, Other, Carbon Monoxide Detector(s)
• Foundation Details: Concrete Perimeter
• Fuel Expense: 15368
• Fuel Expense Source: Actual
• Gross Income: 479856
• Gross Rent Multiplier: 8.87
• Gross Scheduled Income: 475140
• Heat/Ventilation: Forced Air, Gas
• Information: List Broker Must Accompany
• Insurance Expense: 21606
• Insurance Expense Source: Actual
• Janitor Expense: 10410
• Land Amenities: Curbs and Gutters, Lighting/Exterior, Security Entrance, Sidewalks, Other, Cable Ready
• Lot Size Square Feet: 20072
• Main Type: Commercial Sale
• Maintenance Expense: 8000
• Misc Inside: Storage Inside, Other
• Misc Outside: Courtyard, Patio, Security Gate, Security Lighting, Storms and Screens (as exist), Other
• Operating Expense: 138426
• Other Expense: 68808
• Other Expense Source: Actual
• Outdoor Parking: 19-30 Spaces
• Ownership Type: Limited Liability Corp
• Repairs-Decor Expense Source: Owner Projection
• Roof Structure: Flat
• Tax Annual Amount: 40811
• Tax Year: 2023
• Tenant Pays: Air Conditioning, Electricity, Other
• Total Annual Expense Source: Actual
• Total Monthly Income: 39595
• Township: Hyde Park
• Trash Expense: 4316
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Water Expense Source: Actual
• Water Sewer Expense: 10286