7022 S PERRY AVE, CHICAGO, IL 60621

7022 S Perry offers investors a 15-unit apartment building with strong in-place income and a clear value-add strategy. In-place rents average $758 against market rents of $1,100–$1,400 — roughly 50% upside on renovation alone. At approximately 750 square feet, the one-bedroom layouts are unusually generous and highly conducive to conversion into two-bedroom units, pushing the upside further with modest, targeted capital. Investors can drive returns through a straightforward renovation program, a room-count conversion strategy, or a blend of both, tailoring the business plan to market demand and available capital.