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%.