4601 S Indiana Ave Chicago, IL 60653
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Essex Realty Group, Inc. has been exclusively engaged to market for sale a 6 building, 104-unit multifamily portfolio located in Chicago’s Bronzeville neighborhood. The properties are located at 4201 S Michigan Ave, 4320 S Michigan Ave, 4601 S Indiana Ave, 4710 S King Dr, 4711 S Michigan Ave, and 4752 S Michigan Ave.

This turnkey portfolio features an immensely favorable unit mix of almost entirely [95%] two, three, and four bedroom units. Said units feature top-of-the-line finishes as the long term local owner has gut-rehabbed every single one with individual furnaces and in-unit washer/dryer throughout, allowing an investor to achieve top of the market rents in one of Chicago’s most appreciating submarkets. There is no deferred maintenance with this portfolio.

Further contributing to this portfolio’s cash flow is the stack of assumable debt. Each building has an assumable loan with favorable leverage and a below market interest rate (avg 4.66%). This, combined with 95% occupancy and a strong history of collections, will enable an investor to achieve an above market 7.3% cash-on-cash returns on day one, with room to increase rents on gut-rehab units.

This portfolio presents a rare opportunity for an investor to acquire scale in an appreciating submarket and achieve stellar cash-on-cash returns with low rate, high leverage assumptions.


Bronzeville, a historic neighborhood in Chicago, is experiencing a rapid resurgence, making it an attractive investment opportunity for multifamily investors. This vibrant community, known for its rich cultural heritage, is undergoing a transformation with new developments and a surge in rent growth, making it an ideal location for apartment building investments.

One of the key factors driving the appreciation of property values in Bronzeville is its proximity to the University of Chicago. The university’s expansion and the influx of students and faculty have increased the demand for housing in the area. Additionally, the university’s presence has spurred the development of new amenities and services, further enhancing the neighborhood’s appeal.

Bronzeville’s strategic location also makes it an attractive investment option. The neighborhood offers easy access to I-90, making it convenient for commuters to travel to downtown Chicago and other parts of the city. This accessibility, combined with the area’s growing popularity, has contributed to the increase in property values and rental rates.

Furthermore, Bronzeville’s rich history and cultural significance add to its allure. The neighborhood is home to several landmarks, including Unity Hall and the Chicago Defender Building, which attract tourists and residents alike.

Bronzeville’s combination of new developments, rent growth, proximity to the University of Chicago, and easy access to I-90 make it a compelling choice for multifamily investors looking to capitalize on the neighborhood’s resurgence.

  • Favorable Assumable Debt Stack, Total Balance of $17.7MM [73% LTV at List], Avg 4.66% IR
  • 100% Gut Rehabbed Units With In-Unit Washer/Dryer Throughout
  • Professionally Operated and Meticulously Maintained by Long Term Local Owner
  • Favorable Mix of Almost Entirely [95%] Two, Three, and Four Bedroom Units
  • Stabilized, Cash-Flowing Portfolio With Strong Rental Upside for Top-Quality Units
  • Opportunity for Investor to Achieve Stellar Cash Returns With Low Rate, High Leverage Assumptions
Managing Director