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7150-52 S Cornell Ave 12 Unit Apartment Building $825,000 ($68,750/Unit) Chicago, IL 60649
Investment Highlights
- Desirable Unit Mix: (6) Studios & (6) 1 BD Units
- New tear of roof/hot water tank (2022). Upgraded electric service
- Updated common areas
- Updated kitchens and baths with gas forced air furnaces throughout
- Ability to build out (3) additional garden units
- Pridefully maintained by long term ownership group
Executive Summary
Interra Realty has been exclusively engaged to present for sale 7150-52 S. Cornell Ave. Located in Chicago's historic South Shore neighborhood, the subject property contains 12 apartment units featuring (6) Studios and (6) 1 BD/1 BA unit layouts. The units feature spacious layouts and have been been renovated with updated kitchens and baths. There are gas forced air furnaces in every unit.
Current ownership has pridefully maintained the building and made significant Cap-Ex upgrades including a new tear off roof and hot water tank in 2022. The property also features upgraded electric service.
A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market upon tenant turnover. There is also infrastructure in place for the buildout of (2) additional garden apartments.
Current ownership has pridefully maintained the building and made significant Cap-Ex upgrades including a new tear off roof and hot water tank in 2022. The property also features upgraded electric service.
A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market upon tenant turnover. There is also infrastructure in place for the buildout of (2) additional garden apartments.
Property Facts
| Price | $825,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $68,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| No. Units | 12 | Building Size | 8,169 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1926 |
| Zoning | RT-4 - Residential | ||
| Price | $825,000 |
| Price Per Unit | $68,750 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 8,169 SF |
| No. Stories | 4 |
| Year Built | 1926 |
| Zoning | RT-4 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 550 |
| 1+1 | 6 | - | 536 - 670 |
1 1
Walk Score®
Very Walkable (88)
Property Taxes
| Parcel Number | 20-25-100-026-0000 | Improvements Assessment | $70,660 |
| Land Assessment | $6,540 | Total Assessment | $77,200 |
Property Taxes
Parcel Number
20-25-100-026-0000
Land Assessment
$6,540
Improvements Assessment
$70,660
Total Assessment
$77,200
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7150-52 S Cornell Ave
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