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4953 S Calumet Avenue

Chicago, IL 60615
  • $1,800,000
  • STATUS: Active
  • ON SITE: 13 Days
  • MLS #: 11476381
$1,800,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1920
County:

School Ratings & Info

Description

One-of-A-Kind Unicorn Investment Opportunity set in Vibrant Bronzeville offering stately stabilized center entrance side by side 8 residential units + significant remote secured 8 parking spaces. 100% Controlling Interest NOI $124,873 /6.9 % CAP. Extensive gut renovation and notable capital improvements offer abundant choice for numerous investment objectives. Double custom metal fabricated cornice, backup generator, cable heated gutter, new rear decks full plans and permits, extensive masonry improvements, roof, skylight replacement, prolific professional landscaping and more. Intelligent design, expansive and diverse floorplans, unit mix offering includes 5 floor plans : (2) extraordinary 4-bedroom 2 bath (1) exceptional 3-bedroom 2 bath (2) Expansive 2-bedroom 2 baths (1) Equally Expansive 2-bedroom 1.5 bath, (2) Quality 2 bedroom 1 baths. Superior attention to detail in all aspects realized in high tenant retention rates. Refined living, endless appointments, professional grade kitchens, inspired bathrooms, individual HVAC, washer dryers in unit, custom closets, window treatments, dimmers, designer lighting, are a soft sampling of the exhausting list of unit features. Apartment reviews yielded a maintenance level rarely encountered. The opportunity to scale further can be packaged with neighboring fully stabilized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP, 4954-58 S King 8 Units + 4945 S Calumet $157,698/7 CAP inclusive of immediately adjacent, expertly over-engineered 17 car parking lot, cement paved, lined, remote secured access, professionally landscaped with irrigation system. Parking System built-out with full plans and permits for permitted use. And/or @ $375,000 for 350 E 50th Value Add Center Entry Side by Side 6 residential Units, each with individual pins. This value-add hybrid requires complete renovation and framed as 2-bedroom 2 bath inclusive of architectural plans designed as 8, envisioning 2 additional units below grade. All units are vacant, not habitable. The 350 E 50th envelope is adjacent 4954-58 S King and under governing HOA as ADD on. Can be annexed but must be done post-closing by purchaser (s) and must be sold with 4954-58 King /4945 S Calumet.Palpable expansion opportunities, attention to detail in all aspects from skilled scaled veteran ownership team. Transparent, comprehensive scope of work, capital improvements rent roll, lease schedules and full financials available on request. Exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. 48 hours' notice M-F 10am to 4pm to show. Rare opportunity to obtain a sizeable AA turnkey footprint strategically positioned for continue long term growth.

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively 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 is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-08-09T23:58:28.887 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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4953 S Calumet Avenue Chicago, IL 60615

  • Price: $1,800,000
  • Status: Active
  • On Site: 13 Days
  • MLS #: 11476381
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1920
Built
Neighborhood:
Chi - Grand Boulevard
County:
Cook
Area:
Chi - Grand Boulevard
Property Description
One-of-A-Kind Unicorn Investment Opportunity set in Vibrant Bronzeville offering stately stabilized center entrance side by side 8 residential units + significant remote secured 8 parking spaces. 100% Controlling Interest NOI $124,873 /6.9 % CAP. Extensive gut renovation and notable capital improvements offer abundant choice for numerous investment objectives. Double custom metal fabricated cornice, backup generator, cable heated gutter, new rear decks full plans and permits, extensive masonry improvements, roof, skylight replacement, prolific professional landscaping and more. Intelligent design, expansive and diverse floorplans, unit mix offering includes 5 floor plans : (2) extraordinary 4-bedroom 2 bath (1) exceptional 3-bedroom 2 bath (2) Expansive 2-bedroom 2 baths (1) Equally Expansive 2-bedroom 1.5 bath, (2) Quality 2 bedroom 1 baths. Superior attention to detail in all aspects realized in high tenant retention rates. Refined living, endless appointments, professional grade kitchens, inspired bathrooms, individual HVAC, washer dryers in unit, custom closets, window treatments, dimmers, designer lighting, are a soft sampling of the exhausting list of unit features. Apartment reviews yielded a maintenance level rarely encountered. The opportunity to scale further can be packaged with neighboring fully stabilized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP, 4954-58 S King 8 Units + 4945 S Calumet $157,698/7 CAP inclusive of immediately adjacent, expertly over-engineered 17 car parking lot, cement paved, lined, remote secured access, professionally landscaped with irrigation system. Parking System built-out with full plans and permits for permitted use. And/or @ $375,000 for 350 E 50th Value Add Center Entry Side by Side 6 residential Units, each with individual pins. This value-add hybrid requires complete renovation and framed as 2-bedroom 2 bath inclusive of architectural plans designed as 8, envisioning 2 additional units below grade. All units are vacant, not habitable. The 350 E 50th envelope is adjacent 4954-58 S King and under governing HOA as ADD on. Can be annexed but must be done post-closing by purchaser (s) and must be sold with 4954-58 King /4945 S Calumet.Palpable expansion opportunities, attention to detail in all aspects from skilled scaled veteran ownership team. Transparent, comprehensive scope of work, capital improvements rent roll, lease schedules and full financials available on request. Exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. 48 hours' notice M-F 10am to 4pm to show. Rare opportunity to obtain a sizeable AA turnkey footprint strategically positioned for continue long term growth.
Exterior Features

Exterior Building Type BrickStone Foundation Details Concrete PerimeterStone Frontage Type City Street Land Amenities Curbs And GuttersLighting/ExteriorSecurity EntranceSidewalksOtherCable Ready Outdoor Parking 6-12 SpacesAssigned SpacesFencedLightedPavedPrivate LotSecured Parking Total 8 Roof MembraneReflective Coating Roof Structure Flat

Interior Features

Basement Finished Cooling Central Air Heat Ventilation Forced AirGas Miscellaneous Inside Storage Inside Number Of Dishwashers 8 Number Of Dryers 8 Number Of Ranges 8 Number Of Washers 8

Property Features

Additional Parcels YN Yes Approximate Age New Rehab Association Fee Includes WaterElectricityGasParkingInsuranceExterior MaintenanceLawn CareScavengerSnow RemovalOther Built Before1978 YN Yes Current Use CondominiumMulti-Family Electric Circuit Breakers Fire Protection Fire Extinguisher/SSmoke Or Fire ProtectorsCarbon Monoxide Detector(S) Gross Income 196966 Gross Scheduled Income 197936 Insurance Expense 6892 Location Free Standing/Urban Maintenance Expense 7050 Mls Actual Status Active Net Operating Income 124873 Operating Expense 63215 Ownership Types Limited Partnership Possible Use CondominiumMulti-Family Tax Annual Amount 28230 Tax Year 2020 Tenant Pays Air ConditioningElectricityHeatHot Water Total Monthly Income 16495 Township Hyde Park Type Multi Family 5+ Utilities Sanitary SewerWater-Municipal Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of North Clybourn Group, Inc..


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively 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 is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-08-09T23:58:28.887 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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