636 East 44th Street
$900,000
14
6
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New
Description
636 E. 44th St., is a rarely available six (6) unit center entrance building in Chicago's booming Bronzeville neighborhood. This incredible investment is priced to sell at close to a 9 cap on current numbers with strong income from day one. The property sits on an extra-wide corner lot on the southeast corner of 44th Street and Champlain, overlooking Armstrong Park. Conveniently located near the CTA Green Line at 43rd (10-minute walk), numerous bus stops, nearby I-90, and Lake Shore Drive, renters...636 E. 44th St., is a rarely available six (6) unit center entrance building in Chicago's booming Bronzeville neighborhood. This incredible investment is priced to sell at close to a 9 cap on current numbers with strong income from day one. The property sits on an extra-wide corner lot on the southeast corner of 44th Street and Champlain, overlooking Armstrong Park. Conveniently located near the CTA Green Line at 43rd (10-minute walk), numerous bus stops, nearby I-90, and Lake Shore Drive, renters have easy commuting access to downtown. The property comprises (4) 3-bed / 1-bath and (2) 2-bed / 1-bath apartments, offering a balanced mix to cater to a variety of potential renters. The units feature hardwood floors, updated kitchens & bathrooms, and spacious living/dining rooms. In addition to the cosmetic upgrades, the building has newer hot water tanks, a fully re-built boiler, newer windows, well-maintained roof, upgraded common area, stairwells/entryway and lighting. 636 E. 44th St. presents an investor a unique opportunity of a acquiring a stabilized and strong cash-flowing asset in in one of Chicago's most developing and desirable neighborhoods Bronzeville. Upon acquisition, a new owner may capitalize on an incredibly strong and rapidly growing tenant base and realize an in-place cap rate of 8.77 from day one. With ongoing development in the area, there is an opportunity to further add value by bringing rents to increasing market rate levels in existing condition, and/or convert unit 2E into a 3-bed / 1-bath layout or further unlock additional rental income by installing ventless all-in-one washer/dryer combos.
- Listed by Harrison Cohen • Triton Realty Group LLC
- Listed by Alexander Summers • Triton Realty Group LLC
Property Details for 636 East 44th Street
Area
CHI - Grand Boulevard
TownshipHyde Park
ZoningMULTI
LISTING UPDATED: 11/15/2024 08:38 AM
Property Details for 636 East 44th Street
Status | New |
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MLS # | 12211089 |
Days on Market | 1 |
Taxes | $7,486 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 1873 |
Lot Size | 0.11 AC / 4,800 SF |
County | Cook County |
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Building Information for 636 East 44th Street
Stories3Residences6Year Built1873Building Size-Lot Size0.11 AC / 4,800 SF
Property Information for 636 East 44th Street
Property History for 636 East 44th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 636 East 44th Street
This home is within Chicago Public Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Charter - | PK to 5 |
Rating | School | Distance |
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Ariel Elementary Community Academy PublicPK to 8 | ||
King College Prep High School Public9 to 12 | ||
LITTLE BLACK PEARL ARTS ACAD HS Public9 to 12 | ||
Univ of Chicago Chtr-Nth Kenwood CharterPK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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