11000 S Michigan Avenue, CHICAGO IL 60628 Photo 1 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 2 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 3 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 4 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 5 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 6 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 7 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 8 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 9 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 10 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 11 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 12 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 13 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 14 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 15 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 16 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 17 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 18 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 19 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 20 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 21 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 22 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 23 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 24 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 25 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 26 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 27 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 28 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 29 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 30 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 31 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 32 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 33 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 34 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 35 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 36 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 37 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 38 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 39 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 40 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 41 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 42 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 43 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 44 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 45 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 46 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 47 11000 S Michigan Avenue, CHICAGO IL 60628 Photo 48
Listing Courtesy of Dream Spots Leasing Inc

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11000 S Michigan Avenue - Opportunity Zone!!! Opportunity Zone!!!! Here is a great way to invest capital, improve a property, & defer a chunk of income tax until the Federal Income Tax is completely removed. As this property uniquely blends residential, retail, and office space, it offers direct line to transportation and a solid 10.5% cap rate. Through improved management, you can easily take this cap rate over 15%. The 66 Units are comprised of 49 apartments, 10 Offices, & 7 retail street level stores. All apartments & 7 retail spaces have individual heat, the office spaces are heated by the owner which significantly reduces the expenses for a new investor. With this multiunit being historically 90% occupied, it offers new owners a great level of comfort as they turn over units, do improvements, & increase rents. I want to remind you this sits in an Opportunity Zone!!!!

Listing information

  • MLS® ID: 10509006
  • Status: Active
  • New Construction: No
  • Lot Size: 200X90
  • Style: Multi-Family
  • Stories: 4
  • Foreclosure: No
  • Estimated Annual Taxes: $66,641
  • Year Built: 1927
  • Parking Type Description: None 0 cars
  • Lot Area: 0.40 Acres
  • County: Cook

Features

Air Conditioning Window Unit/s
Approximate Age Older
Built Before 1978 (Y/N) Yes
Construction Brick
Current Use Other, Residential-Multi-Family
Electrical Service 101-200 Amps, Circuit Breakers
Exterior Building Type Brick
Fire Protection Fire Extinguisher/s, Smoke or Fire Protectors
Foundation Concrete
Franchisor Feed(y/n) No
Frontage/Access City Street
Fuel Expense Source Actual
Heat/Ventilation Forced Air
Information 24-Hr Notice Required
Location Corner, Public Transport Avail, Special Taxing District
Other # Of Units - 66, Electricity Expense - 7121, Expense Year - 2018, Fuel Expense - 12113, Gross Rent Multiplier - 4.17, Gross Rental Income $ - 431820, Insurance Expense - 13237, Janitor Expense - 17200, Net Oper Income $ - 18954, Net Operating Income Year - 2018, Other Expenses - 11029, Repairs-Decor Expense - 6992, Scavenger Expense - 5070, Tax Year - 2018, Total Annual Exp - 191411, Total Annual Income - 380953, Total Monthly Income - 31746, Township - Hyde Park, Water Expense - 29150, Zoning Type - Commr
Owners Assoc (Y/N) No
Ownership Type Land Trust
Possession Closing
Potential Use Commercial, Office and Research, Residential-Multi-Family, Retail
Property Type Multi Family 5+
Roof Coverings Rubber
Roof Structure Flat
Sale Terms Cash Only, Conventional, Negotiable, Other
Tenant Pays Air Conditioning, Electric, Heat, Varies by Tenant
Type Multi-Family Other
Listing Courtesy of Dream Spots Leasing Inc