4723 S Vincennes Ave

Bronzeville is one of Chicago’s most historic South Side neighborhoods, located just south of the Loop with convenient access to downtown, Lake Michigan, and major transportation routes. Known for its rich architectural character and cultural significance, the neighborhood features a mix of historic greystones, vintage multifamily buildings, and newer residential development. Residents benefit from proximity to the lakefront, Illinois Institute of Technology, Guaranteed Rate Field, and numerous CTA Green Line stations and bus routes. Continued investment and redevelopment throughout the area, combined with its central location and established housing stock, have helped make Bronzeville an increasingly attractive neighborhood for residents and multifamily investors alike.Essex is pleased to present 4723–25 S. Vincennes Avenue, a six-unit plus one nonconforming multifamily investment opportunity located in the heart of Bronzeville, one of Chicago’s most historic and rapidly evolving neighborhoods. Comprised of exceptionally large apartment layouts, the property features three 2-bedroom/1- bathroom units, three 3-bedroom + den/1-bathroom units, and one non-conforming garden unit consisting of a 2-bedroom/1-bathroom apartment. The asset presents a compelling value-add opportunity through interior renovations and strategic unit reconfiguration. Given the substantial unit sizes, investors have the ability to modernize the apartments while potentially adding additional bathrooms and creating more desirable 3-bedroom/2-bathroom layouts. Beyond the in-place rental upside, investors have multiple opportunities to further enhance value, including the potential to reconfigure the three oversized units, add additional bathrooms, and pursue a potential condominium conversion, subject to applicable zoning, approvals, and city requirements. The property also includes a non-conforming garden apartment that is currently leased and provides additional rental income. Combining below-market rents, substantial apartment layouts, and multiple value-add strategies, 4723–25 S. Vincennes Avenue presents an attractive opportunity to increase rental income and enhance the overall value of the asset in one of Chicago’s established South Side neighborhoods.