Triton Realty Group, LLC presents for purchase 4723-25 S. Forrestville, a tastefully redesigned and meticulously renovated eight (8) unit, center-entrance walk up located in Chicago’s booming Bronzeville neighborhood. The property is three blocks from the CTA's Green Line train stop; 1.7 miles from Lake Shore Drive and 1.3 miles from the I-90/94 expressway, allowing an easy commute to the suburbs or downtown. Renters are attracted to its condo quality finishes and proximity to an abundance of shopping and retail that Bronzeville, Kenwood, and the Hyde Park neighborhood have to offer.
Renovated in 2022, the property has an excellent unit mix of six (6) 3 bed/2 bath above-grade apartments and two (2) below grade apartments featuring a 3 bed/1 bath unit and a 2 bed/1 bath unit. Every apartment showcases desirable open floorplans with massive square footage, containing large living areas, ample bedroom space a beautiful kitchen and plenty of natural light. Other updates include new stainless-steel appliances, dishwashers, in-unit laundry, refinished hardwood flooring, and modern bathroom finishes. In addition to its cosmetic finishes, the building also features high efficiency individual HVAC (air compressors on the roof), a new roof, new 400-amp electric service, and updated plumbing.
4723-25 S. Forrestville presents an incredible investment opportunity to acquire a renovated building in one of Chicago’s most developing and desirable neighborhoods Bronzeville. With exceptional cash-flow and minimal expenses this cash flowing asset generates strong income from day one. New ownership can acquire a stabilized investment in an appreciating location providing a solid cash-on-cash return for many years to come.
Pro Forma Cap-Rate
• Massive square footage, containing large living areas, ample bedroom space a beautiful kitchen and plenty of natural light.
• High efficiency individual HVAC (air compressors on the roof), a new roof, new 400-amp electric service, and updated plumbing.
• Priced to sell at just over a 8% cap rate with strong income from day one.
• New stainless-steel appliances, in-unit laundry, refinished hardwood flooring, and modern bathroom finishes.
• Offered individually or as a portfolio with 1615-19 W. Highland & 3752-56 W. Huron.