$1,950,000

RARE OPPORTUNITY TO ACQUIRE 5132-5136 S BLACKSTONE AVE., A 12 UNIT APARTMENT BUILDING IN THE HYDE PARK NEIGHBORHOOD OF CHICAGO. THE PROPERTY IS ON A HUGE 72 X 151 LOT AND IS ZONED RM5. ORIGINALLY DESIGNED BY THE WORLD-FAMOUS ARCHITECT AND ARTISAN, EDGAR MILLER, THE PROPERTY CONSISTS OF TWO ATTRACTIVE GREYSTONE BUILDINGS SEPARATED BY A COURTYARD IN THE REAR. THE 5136 BUILDING, ORIGINALLY A 15 ROOM SINGLE FAMILY RESIDENCE, NOW HAS 5 UNITS. THE 5132 BUILDING, ORIGINALLY A VERY LARGE 3 FLAT, NOW HAS 7 UNITS. THE TOTAL UNIT MIX CONSISTS OF ONE 3 BEDROOM 3 BATH UNIT, ONE 2 BDROOM 1 BATH UNIT, NINE 1 BEDROOM ONE BATH UNITS, AND ONE VERY LARGE LOFT STUDIO. THERE IS ALSO A 2 CAR GARAGE AND A PARKING PAD FOR 2 ADDITIONAL CARS. THE BUILDING HAS HAD A CONSISTENTLY HIGH OCCUPANCY AND THE APARTMENTS ARE EASY TO RENT. WHILE A FEW OF THE UNITS HAVE BEEN RENOVATED, AND THERE IS A NEWER BOILER AND NEW HOT WATER HEATER, THE BUIDINGS COULD STILL USE FURTHER IMPROVEMENTS AND IS BEING SOLD "AS IS."