47 Home SFR Investment Portfolio Chicago IL

47 Home SFR Investment Portfolio Chicago IL Chicago, IL 60637

47 Home SFR Investment Portfolio Chicago IL, Chicago, IL, 60637
47 Home SFR Investment Portfolio Chicago IL, Chicago, IL, 60637
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$5,013,750
Last Verified:
May 14, 2019

Highlights

  • Receiver is conducting a “public sale” of the Property through a sealed-bid auction process in accordance with 28 U.S.C. § 2002
  • Property will be marketed four weeks prior to offer being accepted
  • Stabilized Year 1 Gross Yield of 13.76%
  • Stabilized Year 1 Cap Rate of 9.83%
  • Strong 18.58% Stabilized Year 1 Leveraged IRR and a Stabilized Year 1 Leveraged Cash on Cash of 18.58%
  • 47 Single Family Rental Investment Portfolio
  • Located across the Chicago MSA with the majority of the homes sit on the South Side of the city and close to Midway Airport
  • This 47 Home SFR Investment Portfolio offers 100% occupied cash flow

Description

A court-appointed federal receiver is conducting a “public sale” of the Property through a sealed-bid auction process in accordance with 28 U.S.C. § 2002. Accordingly, SVN has agreed to market the Property for a period of at least four full weeks, during which time the Receiver will advertise the sale in selected local newspapers, and all prospective purchasers will be required to submit offers by sealed bid, which bids will be opened and reviewed by the Receiver at the conclusion of the marketing period. The Receiver may select the winning bidder based on the sealed bids submitted or request that SVN make a subsequent call for “best and final” offers from some or all bidders. In addition, the Receiver reserves the right, in good faith, to reject all offers if none reflects the Receiver’s informed belief as to the value of the Property.

This 47 Unit SFR investment portfolio includes 5 Duplexes, 1 Triplex and 1 Fourplex. This portfolio is located in the South side Chicago submarket, which entirely is within the Chicago metropolitan area. This portfolio offers an excellent opportunity for a buyer to take advantage of Chicago’s growing rental market.

The Portfolio is 100% occupied with an average vintage of the homes being 1928. All homes throughout the portfolio range from 2 to 4 bedrooms and 1 to 4 baths with a range of 1 and 2 story homes.

Homes range in livable square feet from about 796/SF to 2655/SF with an average home size of 1258/SF. Rents throughout the portfolio are strong, averaging $1,282 per month creating a 9.73% Cap Rate at seller’s asking price.


Chicago is a major world financial center, with the second-largest central business district in the United States. The Chicago metropolitan area recorded the greatest number of new or expanded corporate facilities in the United States for calendar year 2014. And in 2007, Chicago was named the fourth-most important business center in the world in the MasterCard Worldwide Centers of Commerce Index.

In addition, Chicago ranked First on the 2018 Time Out City Life Index, compiled by the British media group based on a global quality of life survey of 15,000 people in 32 cities. In all, Chicago hosts 12 Fortune Global 500 companies and 17 Financial Times 500 Companies. The city also claims two Dow 30 companies: aerospace giant Boeing and Kraft Heinz.

Chicago is located in northeastern Illinois on the southwestern shores of Lake Michigan. It is the principal city in the Chicago Metropolitan Area, situated in the Midwestern United States and the Great Lakes region. Chicago is the county seat of Cook County and is the third most populous city in the United States with 2.7 million people. The Chicago Metropolitan Statistical Area has a population of nearly 10 million people and is the third most populous city in the United States.

In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research Network, and it ranked seventh in the world in the 2016 Global Cities Index. Chicago has the third-largest gross metropolitan product in the United States—about $658.6 billion according to 2014–2016 estimates. With one of the world’s largest and most diversified economies, Chicago is rated as having the most balanced economy in the United States. This is due to its high level of diversification.

Building Size: 59111.0sq ft
Lot Size: 3.96 acres

Map of 47 Home SFR Investment Portfolio Chicago IL, Chicago, IL, 60637

Presented by:
Thumb_c7f1e27309

Request additional information
Icon_85f620cdae


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.