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Listed by Quinn Evansof Essex 312, LLC
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Est. payment | /mo
8,766 SqFt
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Est. payment | /mo
8,766 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 8,766 sqft
MLS Listing ID 12760248
Year Built 1900
Annual Tax Amount $14,128
Tax Year 2024
Lot Size 6,098 Sqft
Lot Dimensions 50x125
Property Sub-Type Multi Family 5+
Property Description
4723-25 S. Vincennes Avenue is a six-unit plus one non- conforming multifamily investment opportunity located in the heart of Bronzeville, one of Chicago's most historic and rapidly evolving neighborhoods. Comprised of exceptionally large apartment layouts, the property features three 2-bedroom/1- bathroom units, three 3-bedroom + den/1-bathroom units, and one non-conforming garden unit consisting of a 2-bedroom/1-bathroom apartment. The asset presents a compelling value-add opportunity through interior renovations and strategic unit reconfiguration. Given the substantial unit sizes, investors have the ability to modernize the apartments while potentially adding additional bathrooms and creating more desirable 3-bedroom/2-bathroom layouts. Beyond the in-place rental upside, investors have multiple opportunities to further enhance value, including the potential to reconfigure the three oversized units, add additional bathrooms, and pursue a potential condominium conversion, subject to applicable zoning, approvals, and city requirements. The property also includes a non-conforming garden apartment that is currently leased and provides additional rental income. Combining below-market rents, substantial apartment layouts, and multiple value- add strategies, 4723-25 S. Vincennes Avenue presents an attractive opportunity to increase rental income and enhance the overall value of the asset in one of Chicago's established South Side neighborhoods.
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Unfinished, Storage Space
Interior
Cooling None
Fireplace Y
Exterior
Utilities Available Sewer Connected, Water Available
View Y/N true
Roof Type Membrane,Tar/Gravel
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Municipal Water
Structure Type Brick
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