7749 S Yates 36 Unit Apartment Building $3,450,000 ($95,833/Unit) 11.02% Cap Rate Chicago, IL 60649

Kiser Group is pleased to exclusively present for purchase, 7749 S. Yates Ave, an absolutely beautiful, thirty-six (36) unit courtyard building located in Chicago's historic and booming South Shore Neighborhood. Sitting just blocks away from Lake Michigan to the East, the neighborhood has seen unprecedented growth and
demand over the years. With an abundance of recent developments in the area, including the construction of the Obama Presidential Library, the neighborhood is poised for further growth and appreciation.
7749 S. Yates has a desirable unit composition comprised of four (4) 1Bd/1Ba, and thirty two (32) 2Bd/1Ba units. With the exception of just a few long term tenants, all of the apartments have been renovated with new kitchens and baths complete with stainless steel appliances and granite countertops. Additional improvements to the building consist of, but not limited to: an updated roof, a code compliant exterior porch system, individual furnaces, along with masonry work.
7251 S. Phillips provides an investor immediate scale in one of Chicago’s most desirable appreciating neighborhoods. From day one, a new owner will realize an in place cap rate of over 11% along with an in place cash return of 21%. Solely by increasing under market rents to market rates currently and already being achieved in the building, an investor has the opportunity to realize a cap rate of over 13%.