Hyde Park 40 Unit Mixed Use

Multifamily Investment Advisors at Keller Williams Commercial is pleased to present 5228-5234 S Blackstone a 40- unit Mixed-Use Property and Lot consisting of (24) Residential and (16) Retail/Office units and ample parking located in the Hyde Park neighborhood of Chicago, IL. This property consists of (2) two bedrooms, two bath units, (20) one bedroom, one bath units, (2) studio bedrooms, one bath units and 16 Retail units. The property features condominium-quality premium finishes. The property was built in 1927 and renovated in 2021. Unit features include individually metered utilities, stainless steel appliances, in-unit washer/dryer, central air and custom closet shelving. Building features include elevator access, parking and restaurants. The area, downtown Hyde Park, has traditionally high renter demand because of the restaurants, shopping and close proximity to Lake Michigan and the University of Chicago. The property is within walking distance of the University of Chicago, retail and neighborhood attractions, Lake Michigan, Washington and Jackson Parks. 6 miles south of Chicago's central business district and residents have convenient access to the Metra, CTA, Lake Shore Drive and Dan Ryan Expressway.

Founded in 1861 as an independent township...Hyde Park possesses some of the best South side arts and cultural institutions, as well as many ethnic restaurants, family parks, bookstores, and coffee shops. Home to a number of institutions of higher education, Hyde Park most notably is the home to the nationally acclaimed University of Chicago (established in 1891). The community area is also home to the Museum of Science and Industry, and two of Chicago's four historic sites listed in the original 1966 National Register of Historic Places (Chicago Pile-1, the world's first artificial nuclear reactor, and Frank Lloyd Wright Robie House). Hyde Park has received national attention for its association with the U.S. President Barack Obama, and is also home to the Barack Obama Presidential Center which is being built in Jackson Park. As Hyde Park’s oldest shopping district, 53rd Street is lined with many small businesses and restaurants offering various dining options. Located just 7 miles north of Chicago’s Loop, Hyde Park is closely connected to the rest of the city by multiple CTA bus lines, the Metra Electric Line, which has several stops in Hyde Park and provides service to Millennium Station in central downtown Chicago, and adjacent Lake Shore Drive.

The opportunity at 5228 S. Blackstone presents a recently renovated investment that offers above average returns. It positions an investor to benefit from secure confidence in appreciation, high rents, and a diversified asset with a widely recognized anchor retail tenant.