3428 South King Drive
3428 South King Drive
$2,950,000
30
10
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Description
3428 s. King Drive is a beautiful six (6) flat Greystone building in Chicago's Bronzeville neighborhood. The building provides easy access to downtown and is located just a few blocks from Lake Michigan. 3428 S. King is a unique opportunity to obtain a cash-flowing mixed-use property in one of the most desirable pockets of Chicago's south side. The building is comprised of two (2) master lease retail units, two (2) 3BD/2BA & two (2) 4BD/2BA. Recent improvements to the building include but are not...3428 s. King Drive is a beautiful six (6) flat Greystone building in Chicago's Bronzeville neighborhood. The building provides easy access to downtown and is located just a few blocks from Lake Michigan. 3428 S. King is a unique opportunity to obtain a cash-flowing mixed-use property in one of the most desirable pockets of Chicago's south side. The building is comprised of two (2) master lease retail units, two (2) 3BD/2BA & two (2) 4BD/2BA. Recent improvements to the building include but are not limited to: gut-renovated units with modern finishes throughout, central air, individual mechanicals, in-unit washer dryer, updated electric, copper plumbing, and an abundance of tuckpointing and masonry work. From day one, a new investor will realize a cap rate exceeding 8% and cash returns approaching 9%. The retail units have master leases signed that extend through 2027. Through optimizing expenses and raising rents to levels already achieved throughout the building, a new investor can realize a cap rate approaching 9% and cash returns approaching 12%.
- Listed by John Petrando • Kiser Group Realty Inc
Property Details for 3428 South King Drive
Area
CHI - Douglas
TownshipSouth Chicago
ZoningMULTI
Location
LISTING UPDATED: 04/23/2024 12:07 AM
Property Details for 3428 South King Drive
Status | Active |
---|---|
MLS # | 12032117 |
Days on Market | 16 |
Taxes | $20,901 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 1893 |
Lot Size | 0.14 AC / 6,250 SF |
County | Cook County |
Location
Building Information for 3428 South King Drive
Stories-Residences7Year Built1893Building Size-Lot Size0.14 AC / 6,250 SF
Payment Calculator
$17,841 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 3428 South King Drive
Property History for 3428 South King Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3428 South King Drive
Taxable ValueLand$15,625Additions$85,679Total$101,304
Tax Record2022$20,902 ($1,742 / month)
Home Facts
Baths10Total Finished SqFt11,655 SqFtAbove Grade Finished SqFt11,655 SqFtStories3Lot Size6,250 SqFtStyleStoresYear Built1893CountyCOOKAPN17-34-123-059
Schools near 3428 South King Drive
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Pershing Elementary Humanities Magnet PublicPK to 8 | ||
Phillips Academy High School Public9 to 12 | ||
Chicago Military Academy High School Public9 to 12 | ||
Urban Prep Chtr South Shore High School Charter9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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