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7150 S Cornell Ave 12 Unit Apartment Building $825,000 ($68,750/Unit) 9.49% Cap Rate Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- Well Maintained Courtyard Building
- Strong Value Add Opportunity
- Spacious Apartments
EXECUTIVE SUMMARY
- Immediate Rental Upside; Current Rents $50-$150 Below Market.
- Stabilized Asset with Multiple Levers to Grow Revenue Through Rent Increases, Program Conversion, and Unit/Amenity Expansion.
- Meticulously Maintained and Operated by Local Owner.
- Prime Location in the Heart of South Shore
- Stabilized Asset with Multiple Levers to Grow Revenue Through Rent Increases, Program Conversion, and Unit/Amenity Expansion.
- Meticulously Maintained and Operated by Local Owner.
- Prime Location in the Heart of South Shore
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $825,000 | Apartment Style | Low-Rise |
| Price Per Unit | $68,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 9.49% | Building Size | 8,169 SF |
| No. Units | 12 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment |
| Price | $825,000 |
| Price Per Unit | $68,750 |
| Sale Type | Investment |
| Cap Rate | 9.49% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 8,169 SF |
| No. Stories | 4 |
| Year Built | 1926 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 450 |
| 1+1 | 6 | - | 625 |
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Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 20-25-100-026-0000 | Total Assessment | $77,200 |
| Land Assessment | $6,540 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $70,660 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
20-25-100-026-0000
Land Assessment
$6,540
Improvements Assessment
$70,660
Total Assessment
$77,200
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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7150 S Cornell Ave
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