6820 S Michigan Ave, Chicago, IL 60637 For Sale

Kiser Group is pleased to exclusively present for purchase 6820 S. Michigan Avenue, an 18-unit building located in Chicago's Greater Grand Crossing neighborhood. The property is positioned on a quiet residential block and is within walking distance to multiple parks and schools. Additionally, it offers convenient access to the 69th Street Red Line station, providing tenants with quick and reliable transportation to downtown Chicago.

6820 S. Michigan is comprised of 18 total units. It is made up of one (1) studio, fifteen (15) 1Bd/1Ba, and two (2) 2Bd/1Ba units. All of these units feature hardwood floors throughout. Recent improvements to the building consist of but are not limited to: a modern Weil-McLain boiler, modern kitchens and baths, and an abundance of masonry and tuckpointing work.

6820 S. Michigan presents an investor a unique opportunity to acquire a strong, positive cash-flowing asset with an in place cap rate of 10.11% and a cash return of 17.69%. By increasing rents to rates already achieved in the area, an investor can achieve a 12.77% cap rate with a proforma cash return of 28.33%.