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Browse More Listings in Multifamily For Sale, Chicago, IL or Illinois

Multifamily Property For Sale

South Shore - 50 Units

7717 S. South Shore Drive, Chicago, IL 60649

Price:
$2,200,000
No. Units:
50
Building Size:
25,005 SF
Price/Unit:
$44,000
Property Type:
Multifamily
Property Sub-type:
Mid/High-Rise
Property Use Type:
Investment
Cap Rate:
7%
Lot Size:
10,000 SF
Find Out More...

Last Verified 11/4/2009 Listing ID 16453355

Description

This investment opportunity is a vintage corridor building in Chicago's South Shore Neighborhood.

The property was extensively renovated in 1995 and has been in operation by the current owner since. The boiler was replaced in 2002, and the roof and windows are newer.

The current building is operating with one electrical meter, which is paid for by the owner. An incoming investor could not only increase revenue slightly, but also decrease expenses substantially through some rehabilitation and continued management.

The property is located on the east side of the street on South Shore Drive, with a unique facade that faces the beach entrance from Rainbow Beach Park.

Attachments

Enhanced Listing Web Site

Financial Summary

Actual
Net Operating Income
$154,000

Map of 7717 S. South Shore Drive, Chicago, IL 60649 (Cook County)

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Presented by

Sibley Partners Brokerage LLC

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Sibley Partners Commercial Brokerage LLC (312) 628-5848

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Created 10/30/2009

Additional Information for 7715 S South Shore Drive, Chicago, IL 60649

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - South Shore - 50 Units

7717 S. South Shore Drive, Chicago, IL, 60649