7131 S Bennett Ave
Chicago, IL 60649
Bennett Apartments · Multifamily Property For Sale · 61 Units

Monarch Realty Partners is pleased to exclusively offer for purchase 7131-51 S. Bennett. The property is an impressive 61-unit courtyard building located in the South Shore neighborhood of Chicago. The building consists of seven [7] studios, thirty-five [35] 1Bedroom/1Bath, sixteen [16] 2Bedroom/1Bath and three [3] 3Bedroom/1Bath units. The apartments have spacious, open floorplans with hardwood flooring, large closets and an abundance of natural light. Improvements to the property include updated plumbing and electric as well as newer porches and windows. Heat is included in the rent and provided via a central boiler. There is also a common laundry room in the building with four washers and four dryers which are leased. Value-add strategy: through improved leasing and management, there is an opportunity to achieve 10%+ cap rate and 20%+ cash-on-cash returns. The building is located in one of south side Chicago' s most attractive neighborhoods. The building offers convenient access to Lake Michigan, the lakefront parks as well as downtown Chicago. In addition, it is walking distance to the Bryn Mawr Metra, the CTA Bus line and the central shopping district along 71st and Jeffery including the new 40,000 SF grocery store scheduled to open in 2017 within Jeffery Plaza.