Property Description

SK Properties Group, LLC, is pleased to present 4622-4624 S. Indiana Ave, a 17-unit single-room-occupancy (SRO) property in Chicago's historic Bronzeville neighborhood. The three-story brick building spans approximately 6,524 square feet and includes 16 single-room units plus one traditional three-bedroom unit with a den, bath, and in-unit laundry, along with a 2-car detached garage and covered patio. Full-year 2025 operations produced $127,800 in gross rental income and $65,560 in NOI, with gas, electric, and water commonly operated for simplified ownership. All leases are month-to-month, and because every unit contains a minimum of two rooms, the asset is well positioned for conversion to six condominiums or repositioning as upscale apartment rental units. A new common boiler and hot water tank installed in fall 2024 reduces near-term capital needs. Bronzeville is a federally recognized National Heritage Area experiencing active redevelopment, with new condominiums and townhomes already delivered nearby and more under construction, underscoring rising demand for well-located product within walking distance of public transportation and shopping.

Property Features