4742-46 S Michigan Avenue
Chicago, IL 60615

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Description

Unbelievable trophy-piece opportunity, three 8 unit boutique buildings, 24 Units fully stabilized, condo-quality and developed in 2025 in the Heart of Bronzeville. Each building features TWO front and back 3 bed 3 bath duplex units and SIX front and back 2 bed/2 bath simplex units. Many high-design details, from hallway accents to primary suite wall details meant to set this apart. Highlights include sleek profile shaker cabinet in eye-catching earth tone, stainless steel appliances, quartz island with full backsplash and an abundance of countertop space for entertaining, cooking and dining space. LVT flooring throughout is stylish and easy to maintain. Abundant natural light in all units with walk-out terraces. Design features make this a desirable rental with thoughtful walk-in closets, elevated bath finishes & designer lighting. Maintenance will be eased with high-efficiency furnaces, tankless water heater, In-unit washer/dryer, intercom system and professionally managed premises. 4 outdoor parking spaces available per building. 6.3 Cap Rate, perfect for 1031 exchange.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60615
• Year Built: 2025
• Stories: 3
• Units: 24 units
• Basement: Finished
• Zoning: MULTI
• # Of Dishwashers: 24
• # Of Dryers: 24
• # Of Ranges: 24
• # Of Refrigs: 24
• # Of Washers: 24
• Approximate Age: New Construction
• Cap Rate: 6.3
• Construction Materials: Brick, Block, Stone
• Cooling: Central Air
• Directions: From 47th ST south on Michigan avenue
• Electric: Circuit Breakers
• Electric Expense: 7500
• Electric Expense Source: Actual
• Expense Year: 2025
• Foundation Details: Concrete Perimeter
• Fuel Expense: 7500
• Fuel Expense Source: Actual
• Green Energy Efficient: Water Heater
• Gross Income: 682440
• Gross Rent Multiplier: 12.4
• Gross Scheduled Income: 682440
• Heat/Ventilation: Forced Air, Gas
• Information: List Broker Must Accompany
• Insurance Expense: 13902
• Insurance Expense Source: Actual
• Land Amenities: Curbs and Gutters, Sidewalks
• Main Type: Commercial Sale
• Maintenance Expense: 32000
• Misc Outside: Balcony/ies, Enclosed Stairs, Security Gate
• Operating Expense: 148222
• Outdoor Parking: 13-18 Spaces
• Ownership Type: Limited Liability Corp
• Repairs-Decor Expense Source: Actual
• Roof Structure: Flat, Other
• Tax Annual Amount: 78465
• Tax Year: 2024
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 56870
• Township: Hyde Park
• Trash Expense: 8400
• Trash Expense Source: Actual
• Type Multi-Family: Flats