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South Beach Apartments 7825-27 South Shore Dr 50 Unit Apartment Building $850,000 ($17,000/Unit) Chicago, IL 60649
Investment Highlights
- 50-unit mid-rise apartment building featuring 42 studio units and eight (8) 1-bed/1-bath units in Chicago's South Shore neighborhood
- Conveniently located directly off South Shore Drive, within walking distance to the Cheltenham/79th Street Metra Station and Rainbow Beach/Rainbow Bea
- Value-add potential through unit renovations, lease-up and operational efficiencies
- On-site laundry
Executive Summary
7827 S. South Shore Drive, know as the South Beach Apartments, is a vintage mid-rise apartment building located in Chicago's South Shore neighborhood. The four (4) story building is zoned R4 and sits on a 0.46-acre parcel. The building consists of 50 units and features a studio-heavy unit mix with 42 studio units and eight (8) 1-bed/1- bath units. The building is currently vacant, providing a compelling value-add opportunity through lease-up and operational efficiencies. The property is conveniently located directly off Shore Drive and within walking distance of Rainbow Beach/Rainbow Beach Park and the Cheltenham/79th Street Metra Station.
Auction Platform Page: https://rimarketplace.com/auction/3156/multifamily/chicago/il
Auction Platform Page: https://rimarketplace.com/auction/3156/multifamily/chicago/il
Property Facts
Amenities
Unit Amenities
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Intercom
Site Amenities
- Controlled Access
- Laundry Facilities
- Security System
- Vintage Building
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 40 | - | 600 - 700 |
| 1+1 | 10 | - | 750 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 21-30-415-025-0000 | Improvements Assessment | $15,845 |
| Land Assessment | $2,455 | Total Assessment | $18,300 |
Property Taxes
Parcel Number
21-30-415-025-0000
Land Assessment
$2,455
Improvements Assessment
$15,845
Total Assessment
$18,300
Contacts
-
Matt Tarshis -
Andrew Rubin -
Andrew Slovis -
Zack Pearlstein -
Frontline Real Estate Partners
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South Beach Apartments | 7825-27 South Shore Dr
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