636 E 44th Street Chicago, IL 60653
636 E. 44th St., is a rarely available six (6) unit center entrance building in Chicago's booming Bronzeville neighborhood. This incredible investment is priced to sell at close to a 8 cap on current numbers with strong income from day one. The property sits on an extra-wide corner lot on the southeast corner of 44th Street and Champlain, overlooking Armstrong Park. Conveniently located near the CTA Green Line at 43rd (10-minute walk), numerous bus stops, nearby I-90, and Lake Shore Drive, renters have easy commuting access to downtown. The property comprises (4) 3-bed / 1-bath and (2) 2-bed / 1-bath apartments, offering a balanced mix to cater to a variety of potential renters. The units feature hardwood floors, updated kitchens & bathrooms, and spacious living/dining rooms. In addition to the cosmetic upgrades, the building has newer hot water tanks, a fully re-built boiler, newer windows, well-maintained roof, upgraded common area, stairwells/entryway and lighting. 636 E. 44th St. presents an investor a unique opportunity of a acquiring a stabilized and strong cash-flowing asset in in one of Chicago's most developing and desirable neighborhoods Bronzeville. Upon acquisition, a new owner may capitalize on an incredibly strong and rapidly growing tenant base and realize an in-place 7.89 cap rate. With ongoing development in the area, there is an opportunity to further add value by bringing rents to increasing market rate levels in existing condition, and/or convert unit 2E into a 3-bed / 1-bath layout or further unlock additional rental income by installing ventless all-in-one washer/dryer combos.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyCook
- Taxes$7,486
- HOA/Condo/Coop Fees$0
- Days on Site17 Days
- MLS StatusActive
- MLS ID Number12158894
- Home Size Source N/A
- Year Built1873
- Lot Size0.11 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction Brick
- Number of Stories 3
- Acreage 0.11
- Zoning MULTI
- Number Of Stories 3
Exterior Features
- Construction Details Brick
Community Features
- Township Hyde Park
- MLS Area CHI - Grand Boulevard