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7220 S Yates Blvd 6 Unit Apartment Building $750,000 ($125,000/Unit) 8.12% Cap Rate Chicago, IL 60649
Investment Highlights
- Gut Renovation Complete Full 2016 renovation: new electric, plumbing, kitchens, baths & building
- Oversized Units All 2BR/1BA units at ~1,200 SF each — well above market average for the submarket
- CHA Voucher Stability 5 of 6 units on CHA vouchers — government-backed rent with no credit risk
- Exceptional Amenity Location 1 block to South Shore Cultural Center, Metra station & minutes to the lakefront.
Executive Summary
Fully gut-renovated six-unit walk-up in South Shore, one block to the South Shore Cultural Center, Metra, and Lake Michigan. 100% occupied with all six units leased to CHA Housing Choice Voucher holders — government-backed rent, zero credit risk.
2016 renovation included new electrical, plumbing, kitchens, baths, windows, and refreshed interiors — minimal near-term cap-ex. Unit mix: 4 × 2BR/1BA and 2 × 3BR/1BA, each ~1,200 SF with separate living/dining rooms, dual sunrooms, and original exposed brick.
In-place Year 1 CAP rate of 8.12% on $750,000 ($125,000/unit). Mark-to-market upside of ~$7,000/yr available on natural turnover. 2027 Cook County reassessment fully underwritten — five-year average CAP of 8.11%.
South Side catalyst pipeline within minutes: Illinois Quantum & Microelectronics Park (former U.S. Steel South Works), Obama Presidential Center, and Regal Mile Studios.
2016 renovation included new electrical, plumbing, kitchens, baths, windows, and refreshed interiors — minimal near-term cap-ex. Unit mix: 4 × 2BR/1BA and 2 × 3BR/1BA, each ~1,200 SF with separate living/dining rooms, dual sunrooms, and original exposed brick.
In-place Year 1 CAP rate of 8.12% on $750,000 ($125,000/unit). Mark-to-market upside of ~$7,000/yr available on natural turnover. 2027 Cook County reassessment fully underwritten — five-year average CAP of 8.11%.
South Side catalyst pipeline within minutes: Illinois Quantum & Microelectronics Park (former U.S. Steel South Works), Obama Presidential Center, and Regal Mile Studios.
Financial Summary (Actual - 2025) 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 - 2025) 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
| Price | $750,000 | Building Class | C |
| Price Per Unit | $125,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 8,000 SF |
| Cap Rate | 8.12% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2017 |
| Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RT-4 - Residential | ||
| Price | $750,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 8.12% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 8,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1950/2017 |
| Parking Ratio | 0.63/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential |
Amenities
Unit Amenities
- Dishwasher
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Den
- Dining Room
- Family Room
Site Amenities
- 24 Hour Access
- Controlled Access
- Gas Range
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,675 | - |
| 3+1 | 2 | $1,683 | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 20-25-213-017-0000 | Total Assessment | $46,900 |
| Land Assessment | $5,625 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $41,275 | Tax Year | 2025 |
Property Taxes
Parcel Number
20-25-213-017-0000
Land Assessment
$5,625
Improvements Assessment
$41,275
Total Assessment
$46,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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7220 S Yates Blvd
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