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31 Unit Portfolio on 7337 S South Drive 31 Flex Condos Offered at $2,650,000 in Chicago, IL
Investment Highlights
- Amenity-rich building: gym, spa, playground, storage, onsite laundry and refuse chute on each floor
- Investor opportunity - lease just 7 more units to reach a 7.45% cap rate
- Easy access to Metra Electric Line, Lake Shore Drive, and Downtown Chicago
- 18 units leased, 12 units ready for renovation and lease up for income growth
- Surrounded by new development and ongoing neighborhood revitalization
- Lakefront views and walking distance to South Shore Cultural Center & Beach
Executive Summary
Introducing a prime investment opportunity at 7337 South South Shore Drive, Chicago, IL, 60649. This prestigious 329,630 SF high-rise, built in 1962, offers 31 units, presenting a 52% occupancy rate with significant potential for growth. Boasting a multitude of amenities, including a gym, spa, playground, storage, and on-site laundry, this condo portfolio in the South Shore neighborhood combines lakefront views with proximity to the South Shore Cultural Center & Beach. With 18 units currently rented and 12 units primed for minor renovations, seize the opportunity for a lucrative investment in this amenity-rich property. The actual cap rate is 3%, but with 7 additional units rented, the cap rate would soar to 7.45%, making this a compelling opportunity for savvy investors.
Data Room Click Here to Access
- Offering Memorandum
Taxes & Operating Expenses (Pro Forma - 2025) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Price | $2,650,000 | Status | Active |
| Price / SF | $134.86 / SF | Number of Properties | 31 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 3.02% | Total Building Size | 19,650 SF |
| Sale Type | Investment |
| Price | $2,650,000 |
| Price / SF | $134.86 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 3.02% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 31 |
| Individually For Sale | 0 |
| Total Building Size | 19,650 SF |
Properties
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31 Unit Portfolio on 7337 S South Drive
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