5858 S MLK
Marcus & Millichap is pleased to present the Washington Park Residences located in Chicago, Illinois. The property is adjacent to Washington Park and in Hyde Park which has the University of Chicago operating in close proximity to the apartments. The subject property has had major capital improvements over the last few years being upwards of $350,000 to renovate the common areas, all new porches, roof, updated electrical, security, and laundry areas. The apartments have had a history of high occupancy.
Washington Park Residences are close to shopping, recreation, schools and major public transportation and will continue to see the ease of keeping a high retention of tenants. Being at the intersection of Dr Martin Luther King Drive and 59th Street puts the property on the western edge of Washington Park, just west of the site of the future Obama Presidential Library. The site overlooks the park and is on a quiet tree-lined street with a bus stop directly across the street also to add to the convenience of the tenants that commute to and from downtown to work or to the University of Chicago. The property is also a few blocks from the Green Line Train station that is a short trip to downtown and major airports.