7042 S Michigan Ave, Chicago, IL 60637 For Sale

Kiser Group is pleased to exclusively offer for purchase 7042 S. Michigan, a thirty-two (32) unit apartment building located in the Greater Grand Crossing neighborhood of Chicago’s South Side. Ideally situated along the Michigan Avenue corridor, the property benefits from its proximity to public transportation, retail corridors, and major thoroughfares providing convenient access throughout the city.

7042 S. Michigan is comprised of six (6) 2Bd/1Ba units, twenty (20) 1Bd/1Ba units, and six (6) studio units, offering a well-balanced unit mix. Each unit consists of hardwood and laminate floors throughout. The building is equipped with a newer boiler, two (2) new hot water heaters, and an additional storage tank.

7042 S. Michigan presents investors with the opportunity to acquire a stabilized, income-producing asset in the heart of Chicago’s South Side. The property is offered at an attractive 8.41% cap rate with a 10.89% cash-on-cash return based on current operations. With continued management and rental optimization, the asset projects to an 11.43% pro forma cap rate and a 22.97% pro forma cash-on-cash return, providing substantial potential upside.