Kiser Group’s Birk | Sklar Team presents 6800 S Dorchester for sale in Chicago’s esteemed arts district of Grand Crossing. The building, listed at $5.95 million, sits just blocks from Chicago’s Rebuild Foundation, and the newly developing Obama Library.
The spacious, 62-unit property has an incredibly desirable unit mix of one-, two-, three-, and four- bedroom apartments. 75% of the units have been renovated with updated kitchens, commanding a 25% premium to non-renovated units. Recent improvements to the property as a whole include a new roof, new windows, and a new boiler system.
“The property is situated in a pocket of Grand Crossing where there’s a ton of new development. It’s at the center of new art developments in Chicago, just due West of Jackson Park.” Partner, Aaron Sklar said.
The property is pristine and has been meticulously maintained by management. It presents the buyer with the opportunity to gradually update remaining units for an even higher return on an already stabilized cash flowing asset with long term tenancy.
“The location of this property is what makes it incredibly unique. The new art incubator spearheaded by Theaster Gates is slated to open in 2023, which will further define the area as a desirable hub for culture and arts,” said Sklar.
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