4522 S Calumet Avenue
Chicago, IL 60653

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Description

Investor alert in Bronzeville. Solid 6-unit brick apartment building located at 4522 S. Calumet Ave offering strong in-place income with clear upside. The property features two spacious 3BD/1.5BA units and four 2BD/1BA units, totaling approximately 6,600 SF on a 6,000 SF lot. The building underwent a full permitted renovation in 2014, including updated plumbing, electrical, porches, masonry repairs, and interior upgrades, providing investors with a solid operational foundation. Currently, fully-occupied, this asset presents a classic Bronzeville value-add opportunity with simple cosmetic updates like refinished floors, fresh paint, and kitchen improvements offer the ability to push rents toward market levels and unlock additional NOI. Additional highlights include individual heating systems, individual hot water tanks, and three on-site parking spaces. Tenants pay gas and electric, helping keep operating costs predictable. Positioned in one of Chicago's fastest-evolving neighborhoods, the property sits near CTA Green and Red Lines, Interstate 90 access, Illinois Institute of Technology, the University of Chicago, and a growing list of retail and lifestyle amenities fueling continued demand. Stable building. Strong unit mix. Real upside. Opportunities like this in Bronzeville don't stay available long.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60653
• Year Built: 1880
• Sq.Ft.: 5,238 sq ft
• Stories: 3
• Units: 6 units
• Basement: Finished
• Lot Size: 4792 sq ft lot
• Zoning: MULTI
• # Of Dishwashers: 6
• # Of Ranges: 6
• # Of Refrigs: 6
• Approximate Age: Older
• Building Area Total: 5238
• Built Before 1978 (Y/N): Yes
• Cap Rate: 6.98
• Construction Materials: Brick
• Cooling: Window Unit(s)
• Directions: Exit 43rd street to calumet...North to adress
• Electric: Circuit Breakers
• Electric Expense Source: Actual
• Expense Year: 2025
• Fuel Expense Source: Actual
• Gross Income: 110808
• Gross Rent Multiplier: 8.98
• Gross Scheduled Income: 110808
• Heat/Ventilation: Central Heat/Indiv Controls, Forced Air
• Information: 24-Hr Notice Required, List Broker Must Accompany, None
• Insurance Expense: 4665
• Insurance Expense Source: Actual
• Janitor Expense: 1200
• Lot Size Square Feet: 4699
• Main Type: Commercial Sale
• Maintenance Expense: 3000
• Manager Expense: 5263
• Manager Expense Source: AC
• Operating Expense: 35792
• Other Expense: 2640
• Other Expense Source: Actual
• Repairs-Decor Expense Source: Actual
• Roof Structure: Flat
• Tax Annual Amount: 12716
• Tax Year: 2024
• Tenant Pays: Electricity, Heat
• Total Annual Expense Source: Actual
• Total Monthly Income: 9234
• Trash Expense: 2862
• Trash Expense Source: Actual
• Utilities: Sewer Connected, Cable Available
• Water Expense Source: Actual
• Water Sewer Expense: 3446
• Water Source: Municipal Water