Chicago, IL 60615
$1,300,000
Mark Quesada
Broker / Owner
LIC #475144827
Presenting 724 East 50th Place, a six-unit multifamily asset in Bronzeville priced at $$216,667/unit which is below active comps and in line with recent trades. The building is comprised of two 4BD/3BA duplex units and four 3BD/2BA units, plus 5 exterior parking spaces, and received a comprehensive 2005 renovation covering the roof, masonry, windows, plumbing, electrical, and HVAC. Year 1 NOI is $92,029 (7.08 cap) which includes an $8k increase in property taxes, growing to $115,957 (8.92 cap) pro-forma by leasing the one vacant unit and pushing rents to market. Located minutes from the University of Chicago and UChicago Medicine, the South Side's largest private employer, in a submarket where median household income has grown my more than half since 2011. Offering Memorandum available upon request.
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$9,770/mo
Estimate only. Not a loan offer, pre-approval, or commitment to lend. Taxes, insurance, and HOA are estimates that may differ from actual figures. Contact a licensed lender for a personalized quote.
Pick a day and time — Mark will confirm your private tour.
Listed by Kevin Rocio, @properties Commercial
MLS# MRD12752591 · Active
History reflects records reported to the MLS and may be incomplete.