About 724 E 50th Place
Presenting 724 East 50th Place, a six-unit multifamily asset in Bronzeville priced at $$216,667/unit which is below active comps and in line with recent trades. The building is comprised of two 4BD/3BA duplex units and four 3BD/2BA units, plus 5 exterior parking spaces, and received a comprehensive 2005 renovation covering the roof, masonry, windows, plumbing, electrical, and HVAC. Year 1 NOI is $92,029 (7.08 cap) which includes an $8k increase in property taxes, growing to $115,957 (8.92 cap) pro-forma by leasing the one vacant unit and pushing rents to market. Located minutes from the University of Chicago and UChicago Medicine, the South Side's largest private employer, in a submarket where median household income has grown my more than half since 2011. Offering Memorandum available upon request.
Features of 724 E 50th Place
| MLS® # | 12752591 |
|---|---|
| Price | $1,300,000 |
| Bathrooms | 0.00 |
| Year Built | 1893 |
| Type | Commercial Sale |
| Sub-Type | Multi Family 5+ |
| Status | Active |
Community Information
| Address | 724 E 50th Place |
|---|---|
| Area | CHI - Grand Boulevard |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60615 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Cooling | Central Individual |
|---|---|
| Fireplace | No |
| Has Basement | No |
Additional Information
| Days on Market | 8 |
|---|---|
| Zoning | MULTI |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | @properties Commercial |
|---|