Skip To Content

Address Not Available By Request

Chicago, IL 60615
  • $375,000
  • STATUS: Active
  • ON SITE: 20 Days
  • MLS #: 11475342
UPDATED: 179 min ago
$375,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1929
County:

School Ratings & Info

Description

Redevelopment Opportunity set in Vibrant Bronzeville Adjacent Historic King Drive. 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 350-352 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. Under a full purchase this site would have entitlements to 17 car parking lot @ 4945 S Calumet (behind 350-352 E property) and 157,698 NOI fully stabilized 8++ units fronting King Drive for 14++ unit and 17 car parking and curate a campus at 2.575M. See 4954-48 King/4945 S Calumet listing. The opportunity to scale can be further packaged with neighboring fully stabilized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP and/or 4953-55 S Calumet Center Entry 8 units + 8 parking spaces. NOI $124,873 / 6.9 CAP. The single sale of 350-52 E 50th ONLY requires CASH OFFER/AS IS/ AS SEEN with POF Dated within 30 days of purchase contract. A stand-alone offer for the E 350-352 site must be contingent upon the sale of neighboring 4854-58 S King and will not be subject to annexation from HOA as a contingency. Taxes are 2020 include all 6 pins and are being appealed as vacant building status. 24 hours' notice to show. Daylight hours only. No utilities connected. Bring flashlight. All architectural drawings are uploaded to MLS additional docs. The is an exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. Offers a rare opportunity to obtain a sizeable footprint strategically positioned for continue long term growth. See Agent remarks

Monthly Payment Calculator



© 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 2022-08-15T23:59:26.933 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
www.luxhomechicago.com/homes/131299401
Print Image

Address Not Available By Request Chicago, IL 60615

  • Price: $375,000
  • Status: Active
  • On Site: 20 Days
  • Updated: 179 min ago
  • MLS #: 11475342
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1929
Built
Neighborhood:
Chi - Grand Boulevard
County:
Cook
Area:
Chi - Grand Boulevard
Property Description
Redevelopment Opportunity set in Vibrant Bronzeville Adjacent Historic King Drive. 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 350-352 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. Under a full purchase this site would have entitlements to 17 car parking lot @ 4945 S Calumet (behind 350-352 E property) and 157,698 NOI fully stabilized 8++ units fronting King Drive for 14++ unit and 17 car parking and curate a campus at 2.575M. See 4954-48 King/4945 S Calumet listing. The opportunity to scale can be further packaged with neighboring fully stabilized 22 units + 10 parking spaces @ 4950 S King NOI $279,236/7 CAP and/or 4953-55 S Calumet Center Entry 8 units + 8 parking spaces. NOI $124,873 / 6.9 CAP. The single sale of 350-52 E 50th ONLY requires CASH OFFER/AS IS/ AS SEEN with POF Dated within 30 days of purchase contract. A stand-alone offer for the E 350-352 site must be contingent upon the sale of neighboring 4854-58 S King and will not be subject to annexation from HOA as a contingency. Taxes are 2020 include all 6 pins and are being appealed as vacant building status. 24 hours' notice to show. Daylight hours only. No utilities connected. Bring flashlight. All architectural drawings are uploaded to MLS additional docs. The is an exceptional location provides urban intimacy coupled with hyper-convenience and strong proximity to U of C, Lakefront, Rush Medical Center, Loop, Green Line, Expressways. Offers a rare opportunity to obtain a sizeable footprint strategically positioned for continue long term growth. See Agent remarks
Exterior Features

Exterior Building Type BrickStone Foundation Details Concrete PerimeterStoneOther Frontage Type City StreetAlley Access Land Amenities Curbs And GuttersSidewalksOther Parking Total 0 Roof Rubber Roof Structure Flat

Interior Features

Basement Unfinished Cooling None Fireplaces Total 0 Heat Ventilation Other Number Of Dishwashers 0 Number Of Dryers 0 Number Of Ranges 0 Number Of Washers 0

Property Features

Additional Parcels YN Yes Approximate Age Older Association Fee Includes InsuranceOther Built Before1978 YN Yes Current Use Multi-Family Electric Other Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Location CornerPublic Transport Avail Maintenance Expense 0 Mls Actual Status Active Net Operating Income 0 Operating Expense 0 Ownership Types Limited Partnership Possible Use CondominiumMulti-Family Tax Annual Amount 6536 Tax Year 2020 Tenant Pays Other Total Monthly Income 0 Township Hyde Park Type Multi Family 5+ Utilities Water-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 2022-08-15T23:59:26.933 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
 
https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_11475342-1.jpg https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_11475342-1.jpg https://bt-photos.global.ssl.fastly.net/mred/orig_boomver_1_11475342-1.jpg
Logo
@properties
737 North Michigan Avenue, Suite 1800
Chicago IL, 60611