Active · For Sale · Multi Family 5+

7601 S Kingston Avenue, Chicago, IL 60649

MLS #12642708

7601 S Kingston Avenue, Chicago, IL 60649
7601 S Kingston Avenue, Chicago, IL 60649CRER
7601 S Kingston Avenue, Chicago, IL 60649

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7601 S Kingston Avenue, Chicago, IL 60649

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The property

Executive summary

Pleased to exclusively present this large corner courtyard building located in the heart of Chicago's South Shore neighborhood. This attractive investment opportunity features a desirable unit mix consisting of 12 studios, 13 one bedroom units, and 9 spacious two bedroom units. These fully renovated units are achieving top of the market rents on the block. Investors will benefit from the current management that has just raised occupancy as well as fixing any deferred maintenance within the building. With the strong demand for affordable housing in the area, investors can experience steady cash flow for years to come. Ideally situated within walking distance to Windsor Park Metra Station and CTA buses, Nearby attractions include the South Shore Cultural Center, and the picturesque Lakefront.

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$437,172
Reported Annual Expenses
$47,300
Estimated NOI
$389,872
Estimated Cap Rate
19.64%
Estimated GRM
4.54
Annual Taxes
$32,467 (2024)

Property Details

Units
34
Building Size
18,700 SF
Lot Acreage
0.34
Lot Dimensions
125 X 117
Stories
3
Year Built
1924
Building Age
Older
Construction
Brick
Roof
Flat, Membrane
Zoning
MULTI
Parcel Number
21303100010000

Operations & Utilities

Heating
Gas, Radiators, Steam
Tenant Pays
Electricity

Location & Use

County
Cook
Market Area
Chicago - South Shore

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.