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Multifamily

1323 South Michigan Avenue

1323 S Michigan Ave, Chicago, IL 60605

Listing Price: $9,300,000

Cap Rate
5.08%
Number of Units
30
Occupancy
97.0%
Price/Unit
$310,000
Price/Gross SF
$306.22
Gross SF
30,370

Investment Overview

Marcus & Millichap is pleased to present 1323 South Michigan, located in the South Loop neighborhood of Chicago, Illinois. The subject property consists of 30 condo quality units with timberloft ceilings, city views, stainless steel appliances, double vanities in the bathrooms, and hardwood floors. These high-end apartments have hardwood floors throughout excluding bedrooms. This property has assumable debt that must be assumed. This multifamily opportunity is located in the South Loop of Chicago, one of the most infamous areas of the city. Within a few blocks of the Museum Campus, this property neighbors The Field Museum, Soldier Field, The Adler Planetarium, The Shedd Aquarium, and Northerly Island. With nearly perfect Walk Scores, the subject property is a six-minute walk to Chicago Transit Authority’s (CTA) Roosevelt Train Stop, and is only a minute from CTA’s 1, 3, and 4 bus stops. The Metra’s Museum Campus train stop is also a six-minute walk from the property. Lake Shore Drive runs parallel to Michigan Avenue, running the coast of Lake Michigan creating an easy drive for commuters.

Investment Highlights

  • Excellent South Loop Location
  • 30 High-End Apartments
  • Features Quartz Countertops, Stainless Steel Appliances, Double Vanities in Bathrooms
  • Near Museum Campus and Soldier Field and Downtown Chicago Loop
  • Walking Distance to Numerous CTA Train and Bus Stops and Metra
  • Attractive Assumable Debt in Place

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Financing By

Multifamily

1323 South Michigan Avenue

Listing Price: $9,300,000

Cap Rate
5.08%
Number of Units
30
Occupancy
97.0%
Price/Unit
$310,000
Price/Gross SF
$306.22
Gross SF
30,370

Investment Highlights

  • Excellent South Loop Location
  • 30 High-End Apartments
  • Features Quartz Countertops, Stainless Steel Appliances, Double Vanities in Bathrooms
  • Near Museum Campus and Soldier Field and Downtown Chicago Loop
  • Walking Distance to Numerous CTA Train and Bus Stops and Metra
  • Attractive Assumable Debt in Place

Investment Overview

Marcus & Millichap is pleased to present 1323 South Michigan, located in the South Loop neighborhood of Chicago, Illinois. The subject property consists of 30 condo quality units with timberloft ceilings, city views, stainless steel appliances, double vanities in the bathrooms, and hardwood floors. These high-end apartments have hardwood floors throughout excluding bedrooms. This property has assumable debt that must be assumed. This multifamily opportunity is located in the South Loop of Chicago, one of the most infamous areas of the city. Within a few blocks of the Museum Campus, this property neighbors The Field Museum, Soldier Field, The Adler Planetarium, The Shedd Aquarium, and Northerly Island. With nearly perfect Walk Scores, the subject property is a six-minute walk to Chicago Transit Authority’s (CTA) Roosevelt Train Stop, and is only a minute from CTA’s 1, 3, and 4 bus stops. The Metra’s Museum Campus train stop is also a six-minute walk from the property. Lake Shore Drive runs parallel to Michigan Avenue, running the coast of Lake Michigan creating an easy drive for commuters.

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Financing By

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