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7350 S Phillips Ave
Chicago, IL 60649
The Shore Residences · Multifamily Property For Sale
·
70 Units
Investment Highlights
- Central Heat/Air
- Brand New Elevator
- 74% 2 & 3 Bedroom Units
- In-Unit Laundry
- Updated Electric/Plumbing
Executive Summary
CRER is pleased to present “The Shore Residences,” a 70-unit multifamily investment offering in Chicago’s historic South Shore neighborhood. The Shore Residences underwent a full renovation in 2025 and consists of a diverse unit mix of one, two, and three bedrooms. Major systems and common areas have been upgraded, including electric, plumbing, roof, elevator, trash chute, and laundry room. Residents enjoy spacious layouts featuring condo quality finishes, updated kitchens and baths, central heat and air, hardwood floors, and the convenience of in-unit laundry. With its strong unit mix, modernized infrastructure, and elevated in-unit experience, The Shore Residences offer investors a stabilized South Shore asset positioned to capture continued rental demand along Chicago's lakefront corridor.
Property Facts
| Price Per Unit | $116,786 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.42 AC |
| Cap Rate | 9.96% | Building Size | 71,265 SF |
| No. Units | 70 | Average Occupancy | 80% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built/Renovated | 1929/2025 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | RT-4 | ||
| Price Per Unit | $116,786 |
| Sale Type | Investment |
| Cap Rate | 9.96% |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 71,265 SF |
| Average Occupancy | 80% |
| No. Stories | 6 |
| Year Built/Renovated | 1929/2025 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gated
- Disposal Chutes
- Recycling
- Trash Pickup - Curbside
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | 750 |
| 2+1 | 32 | - | 900 |
| 2+2 | 10 | - | 950 |
| 3+2 | 10 | - | 1,050 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $374,236 | |
| Land Assessment | $22,947 | Total Assessment | $397,183 |
Property Taxes
Parcel Numbers
Land Assessment
$22,947
Improvements Assessment
$374,236
Total Assessment
$397,183
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