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7550-7558 S Essex Ave 32 Unit Apartment Building $3,775,000 ($117,969/Unit) 10.40% Cap Rate Chicago, IL 60649
Investment Highlights
- Professional Offering Memorandum Available Upon Request
- Assumable Debt Available: 3.62% IR, 64% LTV at List, 5 Year Term Remaining
- Stabilized, Cash-Flowing Asset with Significant Rental Upside
- Top Quality Units, Former Condo Building
- Favorable Mix of [8] 1BD/1BA, [17] 2BD/1BA, and [7] 3BD/2BA Units
- Located 2 Blocks From Windsor Park ME Line Metra Stop
Executive Summary
Nara Realty Advisors is pleased to exclusively market for sale 7550 S Essex Ave, a 32-unit apartment building located in Chicago's South Shore neighborhood.
Property Facts
| Price | $3,775,000 | Apartment Style | Low-Rise |
| Price Per Unit | $117,969 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 10.40% | Building Size | 43,089 SF |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RT-4 - 3-15 - Two-Or-Three Story | ||
| Price | $3,775,000 |
| Price Per Unit | $117,969 |
| Sale Type | Investment |
| Cap Rate | 10.40% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 43,089 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1927/2020 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - 3-15 - Two-Or-Three Story |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 650 |
| 2+1 | 20 | - | 800 |
| 3+1 | 6 | - | 1,100 |
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Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 21-30-301-033-0000 | Improvements Assessment | $251,786 |
| Land Assessment | $19,314 | Total Assessment | $271,100 |
Property Taxes
Parcel Number
21-30-301-033-0000
Land Assessment
$19,314
Improvements Assessment
$251,786
Total Assessment
$271,100
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Contact the Sale Advisor
7550-7558 S Essex Ave