4220 South Michigan Avenue

Chicago, IL 60653

$4,450,000
Price
69
Beds
26
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

4220 s. Michigan is a 26-unit property located Chicago's historic Bronzeville neighborhood. The asset is ideally situated on a beautiful, tree-lined street just blocks away from Metcalfe Park, providing easy access I-90 and Chicago's downtown. 4220 S. Michigan is comprised of an incredibly desirable unit mix, consisting of one (1) studio, seven (7)2BD/1BA, and eighteen (18) 3BD/1BA units. All Units are incredibly spacious and have gone through updates both cosmetically and mechanically. Recent improvements...4220 s. Michigan is a 26-unit property located Chicago's historic Bronzeville neighborhood. The asset is ideally situated on a beautiful, tree-lined street just blocks away from Metcalfe Park, providing easy access I-90 and Chicago's downtown. 4220 S. Michigan is comprised of an incredibly desirable unit mix, consisting of one (1) studio, seven (7)2BD/1BA, and eighteen (18) 3BD/1BA units. All Units are incredibly spacious and have gone through updates both cosmetically and mechanically. Recent improvements to the building includes but are not limited to, newer roofs, renovated kitchens & bathrooms, in-unit HVAC, and copper plumbing. 4220 S. Michigan provides investors with the unique opportunity to obtain a stabilized, cash flowing asses in one of Chicago's most rapidly appreciating neighborhoods. From day one, an investor will realize an in-place cap rate over 6.05% and a cash return of just under 7%. Additionally, an investor has the option to assume the existing debt (terms below) through Freddie Mac. 4220 S Michigan Ave: - $2,464,000 - 3.67% Rate -2 Years Remaining
  1. Listed by John George • Kiser Group Realty Inc
  2. Listed by Joseph Bianchi • Kiser Group Realty Inc

Property Details for 4220 South Michigan Avenue

Area
CHI - Grand Boulevard

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute
LISTING UPDATED: 03/19/2024 11:53 AM

Property Details for 4220 South Michigan Avenue

StatusActive
MLS #11976342
Days on Market114
Taxes$37,539 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Courtyard
Year Built1916
Lot Size0.37 AC / 16,218 SF
CountyCook County

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute

Building Information for 4220 South Michigan Avenue

Stories-Residences26Year Built1916Building Size-Lot Size0.37 AC / 16,218 SF

Payment Calculator

$27,414 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,285

Property Taxes

$3,128

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4220 South Michigan Avenue

General Information
Location and General Information
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Individual Furnaces
  • Num of Baths: 26.0
Property/Lot Information
  • Tenant Pays: Electricity, Heat, Hot Water
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Courtyard
  • Lot Dimensions: 102' X 159'
  • Stories: 4
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 10
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 26
Income & Expenses
  • Electric Expense: $5,161.00
  • Fuel Expense: $14,674.00
  • Gross Income: $419,760.00
  • Gross Scheduled Income: $398,772.00
  • Insurance Expense: $17,398.00
  • Maintenance Expense: $7,500.00
  • Janitor Expense: 6000
  • Total Monthly Income: 34980
  • Net Operating Income: $269,062.00
  • Operating Expense: $129,710.00
  • Other Expense: $6,000.00
  • Trash Expense: $3,301.00
  • Water Sewer Expense: $12,199.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 18
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 7
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 1
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 4220 South Michigan Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 4220 South Michigan Avenue

Taxable ValueLand-Additions-Total-
Home Facts
Lot Size2,683 SqFtStyleGovernmental / Public UseCountyCOOKAPN20-02-125-011

Schools near 4220 South Michigan Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 11 to 12
Public - K to 4
Rating
School
Distance
Beethoven Elementary School
PublicPK to 8

Phillips Academy High School
Public9 to 12

Community Services West High School
Public11 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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4220 South Michigan Avenue is a multi-family home for sale in Chicago, IL 60653. This property was listed for sale on February 7, 2024 by Kiser Group Realty Inc, it's currently listed at $4,450,000. It has been on the market for a total of 114 days and was last sold on March 3, 2023. This listing's school district is City Of Chicago School District 299. Nearby schools include Beethoven Elementary School, Phillips Academy High School and Community Services West High School. 4220 South Michigan Avenue is a 69-bed, 26-bath, multi-family home built in 1916.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kiser Group Realty Inc

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 03/19/2024 11:53 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.