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7831 - 41 S . KINGSTON AVE 2 Multifamily Properties Offered at $1,365,000 in Chicago, IL
EXECUTIVE SUMMARY
Keller Williams ONEChicago is pleased to present the opportunity to acquire a 12-unit multifamily portfolio located at 7831–7835 S.
Kingston Avenue and 7839–7841 S. Kingston Avenue, in the heart of Chicago’s historic South Shore neighborhood. This offering features
two adjacent 6-unit brick walk-up buildings situated on quiet, tree-lined residential blocks just minutes from Lake Michigan. The portfolio
is offered at a purchase price of $1,365,000, representing an attractive basis for stabilized multifamily assets with strong value-add
potential.
Property Overview
The Kingston Avenue Portfolio consists of (12) total units, including (4) three-bedroom / one-bathroom units averaging $1,463 per month
and (8) two-bedroom / one-bathroom units averaging $1,278 per month. The buildings are well maintained, with a classic Chicago brick
exterior, individual unit utilities, and spacious floorplans featuring hardwood floors, formal dining rooms, and abundant natural light.
The properties have a current average rent of $1.82 per square foot, generating a net operating income (NOI) of $94,318, and a gross rent
multiplier (GRM) of 7.08. Both properties are professionally managed and have benefited from consistent occupancy, providing investors
with stable in-place income and low turnover.
Location Overview
Located in Chicago’s South Shore neighborhood, the Kingston Avenue Portfolio is positioned within one of the city’s most active corridors
for reinvestment and redevelopment. The neighborhood offers convenient access to Lake Michigan, Rainbow Beach Park, the South
Shore Cultural Center, and the Jackson Park Highlands Historic District.
The properties are less than 10 minutes from the future Obama Presidential Center, which is expected to serve as a major economic
catalyst for the South Side, creating thousands of jobs and attracting new residents and retail investment to the surrounding area. Nearby
public transportation options include the Metra Electric Line and multiple CTA bus routes, providing direct access to Downtown Chicago.
This location benefits from proximity to major institutions such as the University of Chicago, Jackson Park Hospital, and South Shore
Hospital, further supporting tenant demand and long-term rental stability.
Kingston Avenue and 7839–7841 S. Kingston Avenue, in the heart of Chicago’s historic South Shore neighborhood. This offering features
two adjacent 6-unit brick walk-up buildings situated on quiet, tree-lined residential blocks just minutes from Lake Michigan. The portfolio
is offered at a purchase price of $1,365,000, representing an attractive basis for stabilized multifamily assets with strong value-add
potential.
Property Overview
The Kingston Avenue Portfolio consists of (12) total units, including (4) three-bedroom / one-bathroom units averaging $1,463 per month
and (8) two-bedroom / one-bathroom units averaging $1,278 per month. The buildings are well maintained, with a classic Chicago brick
exterior, individual unit utilities, and spacious floorplans featuring hardwood floors, formal dining rooms, and abundant natural light.
The properties have a current average rent of $1.82 per square foot, generating a net operating income (NOI) of $94,318, and a gross rent
multiplier (GRM) of 7.08. Both properties are professionally managed and have benefited from consistent occupancy, providing investors
with stable in-place income and low turnover.
Location Overview
Located in Chicago’s South Shore neighborhood, the Kingston Avenue Portfolio is positioned within one of the city’s most active corridors
for reinvestment and redevelopment. The neighborhood offers convenient access to Lake Michigan, Rainbow Beach Park, the South
Shore Cultural Center, and the Jackson Park Highlands Historic District.
The properties are less than 10 minutes from the future Obama Presidential Center, which is expected to serve as a major economic
catalyst for the South Side, creating thousands of jobs and attracting new residents and retail investment to the surrounding area. Nearby
public transportation options include the Metra Electric Line and multiple CTA bus routes, providing direct access to Downtown Chicago.
This location benefits from proximity to major institutions such as the University of Chicago, Jackson Park Hospital, and South Shore
Hospital, further supporting tenant demand and long-term rental stability.
PROPERTY FACTS
| Price | $1,365,000 | Number of Properties | 2 |
| Price / SF | $45.87 / SF | Individually For Sale | 1 |
| Cap Rate | 6.91% | Total Building Size | 29,760 SF |
| Sale Type | Investment | Total Land Area | 0.17 AC |
| Status | Active |
| Price | $1,365,000 |
| Price / SF | $45.87 / SF |
| Cap Rate | 6.91% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 1 |
| Total Building Size | 29,760 SF |
| Total Land Area | 0.17 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Kingston Apartments
7833 S Kingston Ave, Chicago, IL 60649 |
Multifamily | 14,880 SF | 1924 | $699,000 |
| 7837 Kingston Ave, Chicago, IL 60649 | Multifamily | 14,880 SF | 1924 | - |
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7831 - 41 S . KINGSTON AVE
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