7801 S South Shore Dr - Apartments FOR SALE


Chicago, IL 60649
$3,099,000 USD
312-925-7938
7801 S South Shore Dr, Chicago, IL for Sale
$3,099,000 USD
Apartments - FOR SALE
1/27
null | 7.36% Cap Rate

7801 S South Shore Dr
Chicago, IL 60649


OVERVIEW

Attractive 1960's era, 32 unit brick building in great location in booming South Shore. Appealing unit mix of 5 studios, 9-1/1's, 15-2/1's and 3-3/1's. Roof, Porches, Masonry/Tuckpointing, and Electrical work done within last 5-8 yrs. Every unit updated with Bath and Kitchen reno during same period. Laundry in basement area and outdoor parking in rear for 16-20 cars. Located 1/2 block from Rainbow Beach Park and Rainbow Beach on the shore of beautiful Lake Michigan. The CTA 26, 6, 71, and N5 buses serve this location with both north and south bound stops at 78th and S. South Shore Dr, and the Metra Line (commuter rail) stop is just a short 2 block walk away. Less than 3 miles to world renowned University of Chicago, the new Obama Presidential Library, and the soon to be renovated Jackson Park Golf course, and less than 11 miles to the center of downtown Chicago. This property was in need of new management to stabilize rents, and they have just hired a new, top notch, management company.

FOR SALE DETAILS

PRICE

$3,099,000 USD

PRICE/SF

$111 USD /SF

# OF UNITS

32

PRICE/UNIT

$96,844

CAP RATE

7.36%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1961

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

R5, Chicago

APN/PARCEL ID

21-30-415-028-0000

ASK ABOUT THIS PROPERTY

David McLennanPearson Realty GroupMore Info
312-925-7938

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David McLennanPearson Realty GroupMore Info
312-925-7938

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