For Auction
Receiver Sale: 4901 S Michigan Ave | Vacant 20-Unit Rehab
Chicago, IL 60615Represented by
SVN Chicago Commercial
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by SVN Chicago Commercial and powered by RealINSIGHT Marketplace, 4901 S Michigan Ave is a 20-unit multifamily asset in Chicago's historic Bronzeville/Grand Boulevard neighborhood, offered fully vacant and ready for a ground-up value-add renovation. Built in 1930 on a 7,997 SF corner lot, the 21,615 SF building delivers a family-oriented unit mix of six 2-bedroom, six 3-bedroom, four 3-bedroom 1.5-bath, and four 4-bedroom 2-bath apartments. The property requires capital improvements to the boiler system, electrical service, and plumbing throughout, presenting a clean slate for a full gut renovation and lease-up at market rents. Pro-forma operations project $422,000 in total scheduled income and $212,000 of net operating income once stabilized. Located minutes south of the Loop and three miles from the $3.1B Obama Presidential Center opening June 2026, the asset sits within a corridor of active reinvestment, new construction, and retail growth. Chicago's metro-wide multifamily vacancy fell to just 3.0% in Q2 2026, among the tightest of any major U.S. market, positioning this South Side value-add opportunity for strong lease-up demand and long-term appreciation.
Due Diligence
Location
4901 S Michigan Ave sits at E 49th St in Chicago's historic Bronzeville/Grand Boulevard neighborhood, just minutes south of the Loop and McCormick Place. Residents walk to Robert Taylor Park, Kimbark Plaza's Target and Ross Dress for Less, and the CTA Green Line, with the Obama Presidential Center 3 mi away and Lake Michigan a short ride east via Lake Shore Drive.
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Platform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
