Updated Jan 20, 2026
Joe Connelly Of SVN Chicago Represents Both Parties In $4M Sale Of Multifamily Property In Chicago
4201 South Michigan Avenue
$4,000,000
Units
21
Asset Type
MultiFamily
Closing
Jan 20, 2026
About this deal
AI
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:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Units: 21
- Price Per Unit: $190,476
- Broker: Joe Connelly - SVN Chicago
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.
On the Map
$4,000,000
MultiFamily
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Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93