Marcus & Millichap is pleased to present this multi-family real estate opportunity in the South Shore neighborhood of Chicago. The subject property of 7037 South Chappel Avenue is located approximately 11 miles south of Chicago's downtown loop area, 0.7 miles west of Lake Michigan, 0.3 miles east of the Metra Electric Bryn Mawr train station, and 700 feet east of the CTA’s number 5, 15, 95, and J14 bus stops at Jeffery and 71st Street. The unit mix for the subject property consist of three one-bedroom/one-bathroom units that measure 700 square feet and nine two-bedroom/one-bathroom units that measure 900 square feet respectively. The property also features one non-conforming two-bedroom one-bathroom garden unit that measures 900 square feet.
Chicago's South Shore neighborhood is a historically vibrant community that will be rejuvenated by the $500 million Barack Obama presidential library and museum being built on its northern edge in Jackson Park. The nearby neighborhood features major institutions and attractions, including the Museum of Science and Industry, the University of Chicago, and the lakefront. The subject property is within walking distance to the Chicago Cultural Center, Jackson Park Golf Course, and Rainbow Beach Park.
An investor can take full advantage of this real estate opportunity by capitalizing on the prime location of this asset as well as the ability to cash flow the property.
