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Multifamily

1323 South Michigan Avenue

1323 S Michigan Ave, Chicago, IL 60605

Listing Price: $9,000,000

Cap Rate
5.74%
Number of Units
30
GRM
10.58
Price/Unit
$300,000
Price/Gross SF
$257.69
Gross SF
34,926

Investment Overview

PROPERTY OVERVIEW
1323 South Michigan Avenue is a 30-unit multifamily asset located in the heart of Chicago’s South Loop neighborhood, one of the city’s most established and transit-oriented residential submarkets. Positioned along South Loop’s Michigan Avenue, the property benefits from strong visibility and immediate access to downtown employment centers, cultural institutions, and lakefront amenities. The South Loop is characterized by high-density residential development, a growing professional population, and sustained renter demand driven by proximity to the Loop and major transportation hubs. The property is surrounded by a dense mix of residential towers, retail, and lifestyle amenities, creating a highly walkable urban environment. Residents benefit from direct access to public transportation via nearby CTA Red, Green, and Orange Lines, along with Metra and major bus routes, providing efficient connectivity throughout the city.
UNIT MIX
13 UNITS: 1 BEDROOM / 1 BATHROOM
5 UNITS: 1.5 BEDROOM / 1 BATHROOM
6 UNITS: 1.5 BEDROOM / 2 BATHROOM
6 UNITS: 2.5 BEDROOM / 2 BATHROOM
TOTAL: 30 RESIDENTIAL UNITS
INVESTMENT RATIONALE
1323 South Michigan Avenue offers investors exposure to one of Chicago’s most supply-constrained and transit-oriented downtown submarkets. The combination of immediate Loop adjacency, lakefront proximity, and dense retail infrastructure supports durable renter demand and long-term occupancy stability. With a unit mix catering to both professionals and larger households, the property is well positioned for sustained performance in a premier urban location.

Investment Highlights

  • Prime South Loop Location
  • Attractive Unit Mix: One-Bedroom and Two-And A Half-Bedroom Layouts
  • Assumable Financing: $5,459,082 OLB, 3.90% IR, Matures 9/1/2031

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

Multifamily

1323 South Michigan Avenue

Listing Price: $9,000,000

Cap Rate
5.74%
Number of Units
30
GRM
10.58
Price/Unit
$300,000
Price/Gross SF
$257.69
Gross SF
34,926

Investment Highlights

  • Prime South Loop Location
  • Attractive Unit Mix: One-Bedroom and Two-And A Half-Bedroom Layouts
  • Assumable Financing: $5,459,082 OLB, 3.90% IR, Matures 9/1/2031

Investment Overview

PROPERTY OVERVIEW 1323 South Michigan Avenue is a 30-unit multifamily asset located in the heart of Chicago’s South Loop neighborhood, one of the city’s most established and transit-oriented residential submarkets. Positioned along South Loop’s Michigan Avenue, the property benefits from strong visibility and immediate access to downtown employment centers, cultural institutions, and lakefront amenities. The South Loop is characterized by high-density residential development, a growing professional population, and sustained renter demand driven by proximity to the Loop and major transportation hubs. The property is surrounded by a dense mix of residential towers, retail, and lifestyle amenities, creating a highly walkable urban environment. Residents benefit from direct access to public transportation via nearby CTA Red, Green, and Orange Lines, along with Metra and major bus routes, providing efficient connectivity throughout the city. UNIT MIX 13 UNITS: 1 BEDROOM / 1 BATHROOM 5 UNITS: 1.5 BEDROOM / 1 BATHROOM 6 UNITS: 1.5 BEDROOM / 2 BATHROOM 6 UNITS: 2.5 BEDROOM / 2 BATHROOM TOTAL: 30 RESIDENTIAL UNITS INVESTMENT RATIONALE 1323 South Michigan Avenue offers investors exposure to one of Chicago’s most supply-constrained and transit-oriented downtown submarkets. The combination of immediate Loop adjacency, lakefront proximity, and dense retail infrastructure supports durable renter demand and long-term occupancy stability. With a unit mix catering to both professionals and larger households, the property is well positioned for sustained performance in a premier urban location.

Exclusively Listed By

  • Kyle A. Stengle

    Senior Managing Director Investments

    (312) 327-5455

    Email Kyle

    License(s): IL: 475.138461

    Chicago Downtown

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