Value Add Apartment - 7700 South Shore Dr. Chicago IL

Listing was updated at: 06/03/2019
Property Overview
Price/Rent PSF $ 1,049,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 28,000
Date Available 11/22/2017
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PROPERTY OVERVIEW One of a kind Lakefront apartment building on Historic South Shore Drive. Steps from the beach. This 27 unit apartment building oSers: parking, elevator, in-house laundry, enclosed staircases and many other amenities. Located within walking distance of Jackson Park Golf Course and just minutes from Hyde Park and University of Chicago. PROPERTY HIGHLIGHTS • GreatUnitMix:(4)2Bed/2Bath,(5)2Bed/1.5Bath,(9)2Bed/1Bath,(5)1 Bed / 1 Bath, & (4) Studios • Cash Row while you rehab! Large units! • Building needs new roof ($30-35K) and elevator ($77K) - voucher eligible afterwards • Value add opportunity through upgrading units, increasing rents, and aesthetic upgrades • 9.9% Cap while you renovate! 15+% Cap after renovation/stabilization ($300K budget) See offering memorandum for complete details.