11000 Michigan Avenue, CHICAGO, 60628

NEWNEW$1,800,000 - Multi Family 5+ For Sale

$1,800,000

Beds
Baths
Sqft
.4Acres
1927Built
MLS® #: 10509006
Active

Opportunity Zone!!! Opportunity Zone!!!! Here is a great way to invest capital, improve a property, & defer a chunk of income tax until the Federal Income Tax is completely removed. As this property uniquely blends residential, retail, and office space, it offers direct line to transportation and a solid 10.5% cap rate. Through improved management, you can easily take this cap rate over 15%. The 66 Units are comprised of 49 apartments, 10 Offices, & 7 retail street level stores. All apartments & 7 retail spaces have individual heat, the office spaces are heated by the owner which significantly reduces the expenses for a new investor. With this multiunit being historically 90% occupied, it offers new owners a great level of comfort as they turn over units, do improvements, & increase rents. I want to remind you this sits in an Opportunity Zone!!!!

Additional Information: This property is located in the CHI - Roseland neighborhood, IL. This bedrooms multi family 5+ property is priced at $1,800,000.

Price & Status History

Date Details
Status Changed from New to Active

Essential Information

MLS® #: 10509006
Price: $1,800,000
Taxes: $66,641
Acres: 0.40
Year Built: 1927
Type: Commercial
Sub-Type: Multi Family 5+
Status: Active

Community Information

Address: 11000 Michigan Avenue
Area: CHI - Roseland
City: CHICAGO
County: Cook
State: IL
Zip Code: 60628

Interior

Heating: Forced Air
Cooling: Window Unit/s
Stories: 4

Exterior

Exterior: Brick
Lot Description: Corner, Public Transport Avail, Special Taxing District
Roof: Flat
Construction: Brick
Foundation: Concrete

Additional Information

Zoning: COMMR

Listing Details

Listing Office: Dream Spots Leasing Inc

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Berkshire Hathaway HomeServices KoenigRubloff Realty Group are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.

Listing information last updated on September 18th, 2019 at 6:35am CDT.