Contacts
Tony Hardy
Keller Williams ONEChicago
(773) 575-6082
Travis Montgomery
Keller Williams ONEChicago
Ariana Abercrumbie
Keller Williams ONEChicago
(312) 805-3756
Kelly Rich
Keller Williams ONEChicago
(630) 667-6276
Property Details
- Property Type Multi-Family
- Property Size 16,000 SF
- Units 0
- # of Floors 4
- Building Class B
- Year Built 2002
- Year Renovated 2022
- Date Updated Apr 26, 2024
The Multifamily Investment Advisors Team with KW Commercial and Keller Williams ONEChicago is proud to present the multifamily asset located at 1322 E. 62nd St., Chicago, IL, located in the Woodlawn neighborhood. Each unit comprises 5 bedrooms and 3 bathrooms, catering to a diverse tenant base, including students and professionals, with its proximity to the University of Chicago.
Renovated in 2022, the property adopts a dual leasing approach, with half of the units offered under standard leases and the other half available for mid-term per room leases. This strategy enhances occupancy rates and maximizes rental income. The property, constructed in 2002, features a total gross building area of 16,000 SF. It is offered at a price of $4,950,000, which translates to $309 per SF, a cost per unit of $618,750. The financial projections indicate a Pro Forma Net Operating Income (NOI) of $357,618, resulting in a CAP rate of 7.22% and a Gross Rent Multiplier (GRM) of 10.52.
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Getting around
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68/100
Walk Score ®
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71/100
Transit Score ®
-
72/100
Bike Score ®
Location
- City Chicago, IL
- Neighborhood Woodlawn
- Zip Code 60637
- Market Chicago
Points of Interest
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59th Street (University of Chicago)
0.41 miles
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Cottage Grove
0.66 miles
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55th-56th-57th Street
0.77 miles
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King Drive
1.15 miles
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Stony Island
1.17 miles
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51st-53rd Street (Hyde Park)
1.35 miles
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Bryn Mawr
1.39 miles
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Garfield
1.54 miles
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51st
1.86 miles
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South Shore
1.87 miles
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Mobil
0.55 miles
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ChargePoint
0.60 miles
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BP
0.63 miles
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Citgo
0.93 miles
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Mobil
1.07 miles
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Shell
1.10 miles
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BP
1.10 miles
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Marathon
1.19 miles
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BP
1.34 miles
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Citgo
1.41 miles
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Dorchester Parking Lot
0.23 miles
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Lexington Parking Lot
0.48 miles
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Campus South Parking
0.61 miles
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Parkiing / Mat Mgmt
0.73 miles
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Medical Campus Parking Garage A
0.77 miles
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Medical Campus Parking Garage B
0.91 miles
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Campus North Parking Garage
0.91 miles
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Garfield Park & Ride
1.59 miles
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Lot L
3.62 miles
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Ashland/63rd Park & Ride
3.62 miles
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The Study at the University of Chicago
0.23 miles
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Sophy Hotel
1.17 miles
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Best Motel
1.22 miles
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Hyatt Place Chicago-South/University Medical Center
1.25 miles
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Chicago Lake Shore Hotel
1.65 miles
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Empire Motel
1.91 miles
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East of the Ryan
2.19 miles
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South Shore Motel
2.46 miles
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Amber Inn Motel
3.20 miles
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Skyway Motel
3.75 miles
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City Sports
0.61 miles
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Jewel-Osco
0.73 miles
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ALDI
0.83 miles
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Open Produce
0.98 miles
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Trader Joe's
0.99 miles
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Hyde Park Shopping Center
1.02 miles
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Woodlawn Fresh Market
1.08 miles
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Target
1.19 miles
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Save-A-Lot
1.21 miles
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Bonne Sante Health Foods
1.22 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.