6244 South King Drive

Highlights:

• Up-and-coming area with major investments, including the Obama Presidential Center and Woodlawn Central development
• 9.28% Cap Rate
• 147 Total Units
• Walking distance to the King Drive CTA Green Line Stop
• Potential to convert office space into additional units
• Walking distance to Washington Park
• Close to I-90/94
• Coin laundry on-site
• Boiler building
• Across the street from Dulles Elementary School

Description:

33 Realty is pleased to present for sale 140 units at 6244 South King Drive in the heart of West Woodlawn. The property building is a 4-story mid-rise apartment building, situated on .18 acres in the scenic West Woodlawn area at the intersection of E 63rd and S MLK Dr directly below the King Drive CTA green line stop making for easy access into downtown. The property features a unit mix containing 134 units consisting of:

 Six Studio Small Eff./ 1 bd units ~ 200 SF
 Six Studio Eff./ 1 bd units ~ 320 SF
 Seven Studio TF/ 1bd units ~ 320 SF
 Ninety-Five Studio / 1 bd units ~ 350 SF
 Thirteen Studio Lg/ 1 bd units ~ 430 SF
 Five Studio sm/ 1 bd units ~ 350 SF
 Eight 2 Bd / 1 bd units ~ 1,000 SF  One Retail unit ~ 7,500 SF

6244 South King Drive presents a terrific opportunity to acquire a high performing asset in a great area allowing for convenient access to downtown in a tucked away location in West Woodlawn. This property stands out due to its unique combination of strong cash flow and ability to raise rents as-is. don't miss out on this great opportunity.

Located in the dynamic Woodlawn neighborhood, 6244 S King Dr stands at the center of a community on the rise. Woodlawn has long been a historic and culturally rich neighborhood on Chicago’s South Side, and today, it is experiencing a wave of reinvestment that is reshaping it into a hub of commerce, innovation, and equity.

With the Obama Presidential Center taking shape just minutes away, Woodlawn is poised to become a focal point for national and international attention. This transformative project is more than a museum—it is a global center for leadership and civic engagement, drawing visitors from around the world and creating new opportunities for the surrounding community. As the Obama Foundation builds a home for change, local investment is following suit, with new businesses, housing, and infrastructure projects bringing long-term value to the area.

At the same time, community-led initiatives like Woodlawn Central are ensuring that development happens without displacement. Designed with intention, Woodlawn Central is setting a national example for urban regeneration—where culture, technology, and sustainability are at the forefront. It envisions a connected, transit-accessible neighborhood where residents can live, work, and thrive within a five-minute walk of essential services.

6244 S King Dr is ideally positioned to benefit from this momentum. With its prime location along King Drive—a major corridor in Chicago’s South Side—this property offers an exceptional opportunity to be part of Woodlawn’s continued evolution. As new developments enhance the neighborhood’s landscape, properties in Woodlawn are becoming increasingly sought after by investors and residents alike.

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