6700 S Merrill Ave - Apartments FOR SALE


Chicago, IL 60649- South Shore
$3,450,000 USD
312-925-2521
6700 S Merrill Ave, Chicago, IL for Sale
$3,450,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

6700 S Merrill Ave
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Immediate Scale in Rapidly Appreciating Lakefront Neighborhood
  • AHSAP Property Tax Incentives Available with Building Renovations
  • Desirable Unit Mix and Building Layout That Allows Tier by Tier Renovations
  • Attractive Building Directly Across from Jackson Park Golf Course
  • Major Renovations Needed. Sold “AS-IS”

OVERVIEW

CRER has been exclusively retained to sell 6700 S Merrill Ave, a value-add, 50-unit apartment building in the South Shore neighborhood on Chicago’s south side. This is a major re-positioning opportunity that offers an attractive unit mix of 1, 2 and 3 bedrooms layouts and immediate economies of scale. Extensive renovations needed with approximately 50% of the building currently mostly gutted. This is a great opportunity for an experienced rehabber to finish and tenant the building as they see fit. Unit Mix: Fourteen (14) 1BR/1BA Twenty Nine (29) 2BR/1BA Seven (7) 3BR/1BA

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$86 USD /SF

# OF UNITS

50

PRICE/UNIT

$69,000

CAP RATE

Request Cap Rate

% LEASED

22%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,039 SF

ZONING

R5, Chicago

APN/PARCEL ID

20-24-402-010-0000

ASK ABOUT THIS PROPERTY

Nathan GautscheChicago Real Estate ResourcesMore Info
312-925-2521

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Nathan GautscheChicago Real Estate ResourcesMore Info
312-925-2521

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.