724 E 50th Place, Chicago, IL, 60615

$1,300,000

About 724 E 50th Place

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.

Additional Information: This property is located in the CHI - Grand Boulevard neighborhood, IL. This bedrooms multi family 5+ property is priced at $1,300,000.

Facts & Features

MLS® # 12752591
Price $1,300,000
Bathrooms 0.00
Taxes $25,206
Year Built 1893
Type Commercial Sale
Sub-Type Multi Family 5+
Status New

Community Information

Address 724 E 50th Place
Area CHI - Grand Boulevard
City Chicago
County Cook
State IL
Zip Code 60615

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Central Individual
Fireplace No
Has Basement No

Additional Information

Days on Market 2
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No
Taxes $25,206

Listing Details

Office@properties Commercial

Listing Map

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