CBRE Affordable Housing Listing in Chicago, IL

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CBRE
For Sale
Ellis Lakeview
105
Units
HAP
Property Type
 4624 South Ellis Avenue, Chicago, IL 60653
CBRE Affordable Housing is pleased to list for sale Ellis Lakeview, a 105-unit affordable multifamily community in Chicago, IL. For more information, follow the link to execute your personalized electronic confidentiality agreement and to access the due diligence center. Please do not distribute outside your company.

Confidentiality Agreement
Investment Highlights 
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Opportunity to purchase asset well below replacement costs in a desirable location near the Chicago waterfront
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100% covered by an Option 2 HAP Contract through August 6, 2035. This contract allows for five-year Mark-up-to-Market rent adjustments 
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Opportunity for significant Mark-up-to-Market of the existing HAP rents following rehabilitation
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Opportunity to further reposition the asset through leasing efforts and expense reductions
Property Highlights 
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A mix of one-, two-, and three-bedroom units featuring laminate floors and air conditioning
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Community amenities include two elevators, controlled entry, an on-site laundry facility, and a leasing office
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Recent capital expenditures include select fully refurbished units, a new roof, four new boilers, a new elevator motor, laundry machines, a security camera system, and updated electrical panels and exterior emergency doors in 2024
For more information, please contact:
Justin
Ross
CBRE Chicago
+1 312 935 1420
justin.ross@cbre.com
Lic. 475151928
Danny
Byrne
CBRE Chicago
+1 312 334 7266
danny.byrne@cbre.com
Lic. 475155472
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