4915 S Drexel Blvd

Located along Chicago's lakefront just south of Downtown, Kenwood is one of the city's most desirable and supply-constrained neighborhoods, known for its historic architecture, tree-lined streets, and strong rental demand. The neighborhood offers a unique mix of vintage apartment buildings, stately homes, and a quiet residential atmosphere while remaining just minutes from Hyde Park. Residents enjoy convenient access to the University of Chicago, the Museum of Science and Industry, Lake Michigan, neighborhood parks, restaurants, and retail amenities. Excellent connectivity via Lake Shore Drive, the Metra Electric Line, CTA bus routes, and nearby CTA rail service provides easy access to Downtown Chicago and surrounding neighborhoods. With its premier location, historic character, and proximity to major employers and educational institutions, Kenwood remains one of Chicago's most attractive neighborhoods for both residents and multifamily investors.Essex Realty Group, LLC has been exclusively engaged to market for sale 4915 S. Drexel Boulevard, a 31-unit multifamily investment opportunity prominently located along historic Drexel Boulevard in Chicago's highly desirable Kenwood neighborhood. The Property features a balanced unit mix consisting of (8) one-bedroom, (16) two-bedroom, and (7) three-bedroom apartments, offering broad tenant appeal and long-term leasing stability. The offering presents investors with the opportunity to acquire a stabilized, cash-flowing asset that has undergone a remarkable operational transformation under current ownership, resulting in significant income growth while preserving meaningful upside through continued asset management. Since acquiring the property, ownership has successfully executed a comprehensive value-add strategy, increasing annual rental income by more than 63% during the first full year of ownership. Through strategic renovations, operational improvements, and a thoughtful leasing strategy, ownership has transformed the property's financial performance by creating a durable income stream supported by a significant concentration of government-backed rental income, providing investors with enhanced cash flow stability, reduced collection risk, and continued operational upside. The Property offers investors the rare opportunity to acquire a fully stabilized asset where the operational heavy lifting has already been completed. Unlike traditional value-add opportunities requiring significant execution risk, 4915 S. Drexel Boulevard provides immediate, durable cash flow while maintaining the potential for continued revenue growth through active asset management. The Property is being offered at an attractive in-place cap rate of approximately 9.0%, presenting investors with an opportunity to acquire a high-performing multifamily asset in one of Chicago's most established and sought-after neighborhoods.