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7600 S Phillips Ave
Chicago, IL 60649
Multifamily Property For Sale
·
12 Units
Investment Highlights
- 14 total units in South Shore
- Strong tenant appeal for larger layouts
- Located near transit and lakefront amenities
- Unit mix: 1 one-bed, 8 two-bed, and 5 three-bed units
- Cash-flowing property with stable income
- Opportunity for continued rental growth upside
Executive Summary
7600 S Phillips Avenue offers a compelling 14-unit multifamily investment in Chicago’s South Shore neighborhood, strong fundamentals and long-term upside. The building features a desirable mix of unit layouts, including one one-bedroom unit, eight two-bedroom units, and five three bedroom units, appealing to a broad tenant base seeking spacious housing in a well-established lakefront-adjacent community.
The property benefits from its solid operating profile and positioning within one of the South Side’s most enduring multifamily submarkets.
The property benefits from its solid operating profile and positioning within one of the South Side’s most enduring multifamily submarkets.
Property Facts
| Price Per Unit | $87,500 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 16,425 SF |
| Cap Rate | 8.58% | No. Stories | 3 |
| No. Units | 12 | Year Built | 1927 |
| Property Type | Multifamily | Parking Ratio | 0.12/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RT-4 | ||
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 8.58% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 16,425 SF |
| No. Stories | 3 |
| Year Built | 1927 |
| Parking Ratio | 0.12/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RT-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 1,100 - 1,300 |
Property Taxes
| Parcel Number | 21-30-307-012-0000 | Improvements Assessment | $66,975 |
| Land Assessment | $10,025 | Total Assessment | $77,000 |
Property Taxes
Parcel Number
21-30-307-012-0000
Land Assessment
$10,025
Improvements Assessment
$66,975
Total Assessment
$77,000
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