Multifamily Housing - For Sale
11200 South Vernon Avenue Chicago, IL 60628
Details & Description
Price: $700,000
  • Property Type Multifamily for Sale
  • Lot Size Acres 0.000
  • Building Sq Ft 14,200
  • Building Price per Sq Ft $49.30
Kiser Group is pleased to exclusively offer for purchase the sale of 11200 S. Vernon, a majestic twelve (12) unit walk-up located in Chicago’s historic Pullman neighborhood. The building sits on an incredibly desirable block just adjacent to the neighborhoods Palmer Park, which features sporting facilities, a fitness center, along with an outdoor swimming pool. Additionally, and for quick and easy transportation to and from Chicago’s downtown, the building sits just two (2) blocks from the 111th ‘Pullman’ Metra train stop.11200 S. Vernon has an incredibly unique and preferable unit composition. Of the existing twelve (12) units, the building is comprised of three (3) 3b/1ba apartment units, and nine (9) 2b/1ba apartment units. All of which are incredibly spacious and feature hardwood flooring throughout. Furthermore, all of the units have been renovated to varying degrees based on tenure of tenancies. Additional improvements to the building consist of, but not limited to, an updated and code compliant porch system, a newer Smith boiler system along with an R&D control system, updated windows along with recent roof patching.11200 S. Vernon provides an investor a unique opportunity to acquire a stabilized, cash flowing asset in one of Chicago’s federally recognized opportunity zones. From day one, an investor will realize an in place cap rate over 10% and a cash return of nearly 24%. Furthermore, solely by improving leasing and management along with increasing rents to market rate levels, an investor has the ability to achieve a cap rate of nearly 12% and a ash return of roughly 30%.
Property Highlights
Listing Agents
Aaron Sklar

O: 773-293-5032
asklar@kisergroup.com
Noah Birk

O: 773-293-5090
M: 630-209-3622
nbirk@kisergroup.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

11200 South Vernon Avenue

Chicago, IL 60628

Listing ID: 279677
$700,000
For Sale
  • Property Type Multifamily for Sale
  • Lot Size Acres 0.000
  • Building Sq Ft 14,200
  • Building Price per Sq Ft $49.30
  • 11200 South Vernon Avenue Chicago, IL 60628 | for Sale | Photo 1
  • 11200 South Vernon Avenue Chicago, IL 60628 | for Sale | Photo 2
  • 11200 South Vernon Avenue Chicago, IL 60628 | for Sale | Photo 3
11200 South Vernon Avenue | for Sale | Thumbnail 1
11200 South Vernon Avenue | for Sale | Thumbnail 2
11200 South Vernon Avenue | for Sale | Thumbnail 3
Property Highlights
 10.03 In Place Cap Rate
 23.95 In Place Cash Return
 Three 3 3bd1ba Nine 9 2bd1ba
 100 Occupied
Description

Kiser Group is pleased to exclusively offer for purchase the sale of 11200 S. Vernon, a majestic twelve (12) unit walk-up located in Chicago’s historic Pullman neighborhood. The building sits on an incredibly desirable block just adjacent to the neighborhoods Palmer Park, which features sporting facilities, a fitness center, along with an outdoor swimming pool. Additionally, and for quick and easy transportation to and from Chicago’s downtown, the building sits just two (2) blocks from the 111th ‘Pullman’ Metra train stop.

11200 S. Vernon has an incredibly unique and preferable unit composition. Of the existing twelve (12) units, the building is comprised of three (3) 3b/1ba apartment units, and nine (9) 2b/1ba apartment units. All of which are incredibly spacious and feature hardwood flooring throughout. Furthermore, all of the units have been renovated to varying degrees based on tenure of tenancies. Additional improvements to the building consist of, but not limited to, an updated and code compliant porch system, a newer Smith boiler system along with an R&D control system, updated windows along with recent roof patching.

11200 S. Vernon provides an investor a unique opportunity to acquire a stabilized, cash flowing asset in one of Chicago’s federally recognized opportunity zones. From day one, an investor will realize an in place cap rate over 10% and a cash return of nearly 24%. Furthermore, solely by improving leasing and management along with increasing rents to market rate levels, an investor has the ability to achieve a cap rate of nearly 12% and a ash return of roughly 30%.

Points of Interest & Demographic Radii
Points of Interest
Demographic Radii
POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
 
Chicago History of Multifamily Housing for Sale

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Chicago Area Market Trends

Listing Demographics for 11200 South Vernon Avenue Chicago, IL 60628

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population19,406131,689437,678
Population Median Age373939
Population by Age0-9 Yrs2816 (14%)15975 (12%)54542 (12%)
10-19 Yrs2691 (13%)18095 (13%)61127 (13%)
20-29 Yrs3064 (15%)18498 (14%)59543 (13%)
30-39 Yrs2450 (12%)15195 (11%)51663 (11%)
40-49 Yrs2106 (10%)15776 (11%)53291 (12%)
50-59 Yrs2458 (12%)17550 (13%)61181 (13%)
60-69 Yrs2024 (10%)15146 (11%)48885 (11%)
70+ Yrs1797 (9%)15453 (11%)47446 (10%)
Median HH Income$37,150$40,981$43,923
Total Household Income< 24K2587 (36%)15786 (33%)49755 (30%)
25-49K1927 (27%)12004 (25%)39634 (24%)
50-74K1029 (14%)7434 (15%)25403 (15%)
75-99K735 (10%)4792 (10%)18358 (11%)
100-199K690 (9%)6913 (14%)24981 (15%)
200K+70 (0%)884 (1%)4351 (2%)
Highest Education LevelNo Diploma24101173139371
Diploma or GED32942434482521
Some College35162647981634
Assoc. Degree949709623585
Bachelors Degree13861107939339
Higher Degree659740125308
Total Housing Units9,22657,722193,170
--Owner-Occupied2,87026,98489,855
--Renter-Occupied4,16920,82972,627
Owner-Occupied Values< 100K1077865023356
100-199K15671466343810
200-299K173239914070
300-399K256314734
400-499K11811724
500K+264602160
Total Working Age Population15,071104,856346,323
In Work Force9,40761,146207,041
Not In Work Force5,66443,710139,281
Workforce Employed7,20250,053176,540
Workforce Unemployed2,20511,07430,454
Civlian Workforce9,40761,127206,994
Military Workforce01947
Total Households7,03947,813162,482
Family Households4,03329,48599,548
Non-Family Households3,00518,32962,934
Married Couple1,37910,93543,423
Other Family2,65418,54956,124
Married w/Child4233,25115,940
Single Male w/Child1418943,250
Single Female w/Child1,0286,42319,915

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Illinois12,419,293+312,830,632+1214,316,487+615,138,849
Cook County5,376,741-35,194,675+105,707,832+55,990,243
Will County502,266+35677,560+34907,625+201,093,207
Indiana6,080,485+76,483,802+46,738,573+47,014,880
Lake County484,564+2496,005-3479,815+1482,321

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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Closest Commercial Airports
Airport Distance (mi)
Chicago Midway International Airport (MDW) 10
Chicago O'Hare International Airport (ORD) 25
South Bend Regional Airport (SBN) 67
Listing Agent
Listing Co-Agent
Aaron Sklar - CRE Agent at

Noah Birk

More listings from Aaron Sklar
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