4235 S Calumet Avenue
Chicago, IL 60653

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Description

7.45 Cap Breathe Rare Air. The finest portfolio of properties in Bronzeville is available for sale for the first time. The Bronzeville Collection, from developers with 45 years of experience, hits all the metrics for a turn-key acquisition - intelligent designs, durable renovations, functionality, and strong resident communities with a history of high renewal rates and low delinquencies. Future owners will possess immediate value, combined with long-term rental growth. Intimate, Exclusive, Boutique Masonry 8-unit residential Mid-Rise elevator building with 10 gated parking spaces, spanning 62 feet of frontage set in an exceptionally well-located site within 1/4 block of the Green Line and Pendleton Park. Built as condominiums in 2008, the development team de-converted to luxury boutique housing, with upgraded interior and exterior common elements and living spaces. Capital improvements included, but were not limited, to the following: a) intricate artesian sculptured iron fencing; b) botanic garden; c) zoned irrigation system inclusive of grounds and parkway, controlled by an app; d) common area art and lighting; e) downspout & gutter heaters; e) extensive masonry upgrades. The unit mix is as follows: (1) 4 bedroom, 2 1/2 bath duplex; (1) 3 bedroom, 2 1/2 bath duplex; (6) 3- bedroom, 2 bath flats. Refined living includes the following: a) professional grade kitchens; b) under-cabinet lighting; c) gas fireplaces; d) multiple terraces front and rear; e) walk-in closets; f) resort inspired primary bathrooms with dual sinks, soaking tubs and separate showers; g) individual HVAC; h) in-unit, full-size washers and dryers; i) double-hanging stainless-steel closets organizers; j) window treatments; k) dimmers, designer lighting, premium mill work and more. 190,392.02 NOI Please see broker private remarks for further scaling opportunities.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60653
• Year Built: 2008
• Stories: 4
• Units: 8 units
• Basement: Finished
• Fireplace: 8
• Zoning: MULTI
• # Of Dishwashers: 8
• # Of Dryers: 8
• # Of Ranges: 8
• # Of Refrigs: 8
• # Of Washers: 8
• Approximate Age: 16-25 Years
• Cap Rate: 7.5
• Construction Materials: Brick, Block
• Cooling: Central Air
• Deconversion (Y/N): Y
• Directions: King Drive to 43rd, West to Calumet, South to property
• Electric: Circuit Breakers
• Electric Expense: 2029
• Electric Expense Source: Actual
• Fire Protection: Fire Extinguisher/s, Other, Carbon Monoxide Detector(s)
• Foundation Details: Concrete Perimeter
• Fuel Expense Source: Actual
• Gross Income: 278088
• Gross Rent Multiplier: 9.17
• Gross Scheduled Income: 276240
• Heat/Ventilation: Forced Air
• Information: List Broker Must Accompany
• Insurance Expense: 11174
• Insurance Expense Source: Actual
• Janitor Expense: 2280
• Land Amenities: Curbs and Gutters, Lighting/Exterior, Security Entrance, Sidewalks, Other, Cable Ready
• Lot Size Square Feet: 7812
• Main Type: Commercial Sale
• Maintenance Expense: 7000
• Misc Inside: Elevator/s Passenger, Accessible Entrance
• Misc Outside: Balcony/ies, Enclosed Stairs, Accessible Entrance, Security Gate, Security Lighting, Security System, Sun Deck
• Operating Expense: 73967
• Other Expense: 44967
• Other Expense Source: Actual
• Outdoor Parking: 6-12 Spaces
• Ownership Type: Limited Liability Corp
• Repairs-Decor Expense Source: Owner Projection
• Roof Structure: Flat
• Tax Annual Amount: 23029.6
• Tax Year: 2023
• Tenant Pays: Air Conditioning, Electricity, Heat, Other, Hot Water
• Total Monthly Income: 23020
• Township: Hyde Park
• Trash Expense: 2286
• Trash Expense Source: Actual
• Type Multi-Family: Flats
• Water Expense Source: Actual
• Water Sewer Expense: 4231