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6750 S Merrill Ave
Chicago, IL 60649
Multifamily Property For Sale
·
25 Units
Investment Highlights
- Ideal Mix of One, Two, and Three-Bedroom Apartments
- Opportunity to Stabilize Rent Roll and Capture Strong Market Rents
- Highly Desirable Jackson Park Location
Executive Summary
Interra Realty is pleased to present for sale 6750 S Merrill Ave. Located in the Jackson Park neighborhood on the south side of Chicago, the subject property is a twenty-five (25) unit building. The property features a highly desirable mix of one, two, and three-bedroom apartments. Units are in varying condition, with some needing minor cosmetic improvements, while others require significant construction to become habitable.
The property presents qualified investors the opportunity to acquire a value add property in a rapidly appreciating south side neighborhood. The building is currently partially vacant and in need of exterior improvements. Through the purchase the property and stabilization of the rent roll, investors can capture an 11.6%+ cap rate. Situated just blocks from Jackson Park, South Shore golf course, and Lake Michigan, the location offers tenants premier access to some of the most popular public amenities.
The property presents qualified investors the opportunity to acquire a value add property in a rapidly appreciating south side neighborhood. The building is currently partially vacant and in need of exterior improvements. Through the purchase the property and stabilization of the rent roll, investors can capture an 11.6%+ cap rate. Situated just blocks from Jackson Park, South Shore golf course, and Lake Michigan, the location offers tenants premier access to some of the most popular public amenities.
Property Facts
| Price Per Unit | $71,200 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| No. Units | 25 | Building Size | 28,812 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1915 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | R-5 - Chicago | ||
| Price Per Unit | $71,200 |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 28,812 SF |
| No. Stories | 4 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | R-5 - Chicago |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 700 |
| 2+1 | 16 | - | 800 |
| 3+1 | 6 | - | 1,000 |
Property Taxes
| Parcel Number | 20-24-402-017-0000 | Improvements Assessment | $184,050 |
| Land Assessment | $23,250 | Total Assessment | $207,300 |
Property Taxes
Parcel Number
20-24-402-017-0000
Land Assessment
$23,250
Improvements Assessment
$184,050
Total Assessment
$207,300
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