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Joe Connelly Of SVN Chicago Represents Both Parties In $4M Sale Of Multifamily Property In Chicago

Property Image
SOLD
$4,000,000

Illinois

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MultiFamily
Sold 01/20/2026
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Property Image
SOLD

Joe Connelly Of SVN Chicago Represents Both Parties In $4M Sale Of Multifamily Property In Chicago

4201 South Michigan Avenue

See Similar Deals
MultiFamily
Sold 01/20/2026
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A 21-unit apartment building located at 4201 South Michigan Avenue in Chicago’s Bronzeville neighborhood was transacted for $4 million. The multifamily property consists of 15 two-bedroom and six three-bedroom units, reflecting the continuing activity within the local market.

Summary of transation details:

Joe Connelly from SVN Chicago represented both parties in this debt assumption sale, indicating a collaborative effort on this transaction within the Bronzeville multifamily sector.

Players

Joe Connelly
SVN
Joe Connelly
3 deals$3M volume(630) 550-1515
BROKER

Details

SOLD
IMAGE: Joe Connelly DATE: 01/20/2026 ADDRESS: 4201 South Michigan Avenue MARKET: Chicago ASSET TYPE: Multifamily BROKER: Joe Connelly - SVN Chicago (@SVN_Chicago) SALE PRICE: $4,000,000 UNITS: 21 ~ PPU: $190,476 NOTE: A 21-unit apartment building at 4201 S. Michigan Ave. in Chicago’s Bronzeville neighborhood sold for $4 million via a debt assumption, with SVN Chicago’s Joe Connelly representing both parties,The property, comprising 15 two-bedroom and six three-bedroom units, highlights ongoing investor activity in Chicago’s Bronzeville multifamily market.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49