$1,589,000

6557 S Minerva Avenue, Chicago, IL 60637

  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1903
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 10 months ago

Property Description

We are pleased to present for sale 6557 S Minerva, a three-story 10-unit apartment building located in the East Woodlawn neighborhood of Chicago. The property is located ~six blocks west of the Jackson Park Golf Course and ~5 blocks south of The University of Chicago, in immediate proximity to the future Obama Presidential Library. The property experienced a complete gut rehab in 2004 deconverting unit count from 12 to 10 for multi-floor, condo-quality residences. The unit makeup is: five (5) 3 Bed/2 Bath & five (5) 2 Bed/2 Bath. All units feature hardwood flooring and tile throughout and modern kitchen features: granite countertops, modern cabinets, updated appliances, and dishwashers. The property also features copper plumbing, in-unit updated electric boxes, and in-unit laundry facilities From an economic perspective, the property features residents with below-market rental rates that allows a future operator to benefit from the opportunity to bring leases to market rental rates in a location that benefits from long-term economic improvement investment stability. In-place 7.8 cap rate and 10.9 cap rate with stabilized market rents. Listing broker has interest in the property.

Listing Status:
Active
Listing Office:
33 Realty : 219-465-8584
Listing Agent:
Thomas Hart : 219-465-8584
MLS ID:
12170537
  • A/C: Central Air

This listing courtesy of Thomas Hart, 33 Realty

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Woodlawn Elementary Community School

6657 S Kimbark Ave, Chicago, IL, 60637

Grades PK-6

0.17 miles away

W

Wadsworth Elementary School

6650 S Ellis Ave, Chicago, IL, 60637

Grades PK-8

0.22 miles away

U

Univ of Chicago Charter-Woodlawn

6300 S University Ave, Chicago, IL, 60637

Grades 6-12

0.35 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.

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