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5120-26 S. Michigan Ave., a spacious 8-unit center entrance walk up building located in the booming Washington Park/Bronzeville neighborhood on the south side of Chicago. The improvement sits on an over-sized lot (63' x160') offering renters large apartments and an enclosed on-site parking lot accommodating up to 11 vehicles. 5120-26 S. Michigan has a desirable unit mix and these units are large in square footage. The break-down are as follows: (3)1Bd/1Ba at 880sf, 700sf, & 560sf, (2) 3Bd/2Ba at 1,920sf, and (3)5Bd/2Ba boasting 2,140sf. Throughout the recent years, the building has undergone significant and extensive improvements consisting of, but not limited to: roof repairs, exterior painting, tuck pointing, HVACs, plumbing,common areas, and perimeter fence. The units have also have been improved with granite counter tops and updated appliances. This asset offers a true unique and value-add opportunity. As it currently stands, an investor can acquire an existing cash flowing asset from day one with a Cap Rate of 8.08%. In addition, plans were approved to add (4) 1Bd/1Ba units and increase the gross rental income to +/-$45,000 per year. Some work has started that includes, but not limited to: plumbing, laundry room and furnaces. Offering Memorandum available upon request. Inquire listing broker for more details. *Note: The total expense cost for utilities are accounted for under the"Fuel" expense on this listing. The Gross Income accounts for rent, parking, and pet rent.

Property Details of 5120-26 South Michigan Avenue

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Listed by Marco Cesario and Alexander Summers of Jameson Commercial

Based on information submitted to MRED  as of March 2, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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