6800 South Michigan Avenue

Chicago - United States of America

Properties > 6800 South Michigan Avenue
EST. ANNUAL RETURN
8.81%
INVESTMENT TERM
4 years
INVESTMENT TYPE
Entire Property
PROPERTY TYPE
Multi Family Home
TARGET
$182,900

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Description

A fantastic investment opportunity, this property is comprised of a multi-family home, consisting of two units offering a total living area of 250.8 sq. meters. Each unit has 3 bedrooms, 1 bathroom, a kitchen, and a living room. 


About the area

Neighbourhood: Greater Grand Crossing

Grand Crossing is located next to the expressway and South Shore district and with low property prices, rental demand is underpinned by professional tenants from the St. Bernard Hospital and the University of Chicago. The area is undergoing significant gentrification due to the proximity of the Washington Park, the Obama Presidential Center and the Tiger Woods Jackson Park project which will help increase values and demand over the coming years.

Chicago

Voted by Conde Nast as the best city in the US for the fourth year in a row, Chicago, with its vast green spaces and world-renowned architecture, is now taking the culinary world by storm with multiple world class restaurants as diverse as the city itself. Centrally located in the US, its airport hub at Midway is fueling the cities renaissance and growth.

Chicago is the third-largest city in the U.S., right behind New York and Los Angeles, a major world financial center and home to the second-largest central business district in the U.S. Key industry sectors in Chicago include business and professional services, food industry, transportation and logistics, life sciences and healthcare, technology, and manufacturing. Much of the Housing Stock in Chicago was built prior to World War II, making it one of the older and more historic cities in the country. The architecture of Chicago has influenced the history of American architecture and Chicago’s buildings in a variety of styles by many important architects. Median property values in Chicago increased by 8.4% over the last 12 until September 2022. The rent increased by 8.6% over the same period, following an increase of 10.8% in 2021. Inventory of properties for sale was reduced by 19.5% over the last 12 months until September 2022. 

Selling points

Strong Market Fundamentals

Our experienced and professional real estate team review each and every Bricksave deal utilising our AI driven, Algorithmic real estate sourcing program.

Solid Lease

The property is currently vacant and the area enjoys strong rental demand from families and professionals. It is expected a new Section 8 tenant will provide a long-term lease agreement. 

Property refurbished

The property will be professionally refurbished and will be delivered turnkey ready for the new tenants. It is expected the value of the property will increase considerably upon completion.


Investment Timeline
  • Funding started
    23rd Dec. 2022
  • Funding complete
    15th March 2023
  • Rental starts
    15th May 2023
  • Returns start
    1st June 2023
  • Year 1 returns
    1st June 2024
  • Year 2 returns
    1st June 2025
  • Year 3 returns
    1st June 2026
  • Year 4 returns
    1st June 2027
  • Property sold


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