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7662-7666 S South Shore Dr
Chicago, IL 60649
7662 South Shore Dr · Multifamily Property For Sale
·
19 Units
Property Facts
| No. Units | 19 | Building Size | 11,400 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1926/2008 |
| Building Class | C | Parking Ratio | 1.05/1,000 SF |
| Lot Size | 0.23 AC | ||
| Zoning | R-5 | ||
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 11,400 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built/Renovated | 1926/2008 |
| Parking Ratio | 1.05/1,000 SF |
| Zoning | R-5 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Hardwood Floors
- Stainless Steel Appliances
About 7662-7666 S SOUTH SHORE DR , CHICAGO, IL 60649
Kiser Group is pleased to exclusively present 7662 S. South Shore Dr, a beautiful 16 unit apartment building located on Chicago' s historic South Shore Drive. Just steps away from the Lake, and across the street from Rainbow Beach, 7662 S South Shore Dr. presents an investor an unique opportunity to acquire a stabilized, positive cash flowing asset. 7662 S. South Shore Dr is comprised of sixteen (19) spacious 1b/1ba units. The apartments have spacious, open floor plans with hardwood flooring throughout. Recent structural updates and improvements to the property consist of, but not limited to, a newer rubber roof overlay, newer windows, newer porches, as well as a newer mechanics. Heat is included in the rent and provided by a central, newer, boiler. Additionally, there is a common laundry room in the building equipped with two washers and dryers, which provide an investor additional income. 7662 S. South Shore Dr. presents an investor the opportunity to acquire an in place 9.1% cap rate. Through improved leasing and management, there is an additional opportunity to increase rents and achieve an 11% cap rate and a 27% cash-on-cash return. Located on Chicago' s historic South Shore Drive.
Property Taxes
| Parcel Number | 21-30-404-038-0000 | Improvements Assessment | $52,106 |
| Land Assessment | $8,084 | Total Assessment | $60,190 |
Property Taxes
