Active · For Sale · Multi Family 5+

7801 S South Shore Drive, Chicago, IL 60649

MLS opportunity selected in connection with 7022 S PERRY AVE, CHICAGO, IL 60621

MLS #12579441

7801 S South Shore Drive, Chicago, IL 60649
7801 S South Shore Drive, Chicago, IL 60649CRER
7801 S South Shore Drive, Chicago, IL 60649

Start a conversation

Inquire about this property

7801 S South Shore Drive, Chicago, IL 60649

Property inquiry details

By submitting, you agree to the CRER privacy policy.

The property

Executive summary

PRICE REDUCED for this attractive 1960's era, 32 unit brick building in great location in booming South Shore. Appealing unit mix of 4 studios, 10-1/1's, 15-2/1's and 3-3/1's. Roof, Porches, Masonry/Tuckpointing, and Electrical work done within last 5-8 yrs. Every unit updated with Bath and Kitchen reno during same period. Laundry in basement area and outdoor parking in rear for 16-20 cars. Located 1/2 block from Rainbow Beach Park and Rainbow Beach on the shore of beautiful Lake Michigan. The CTA 26, 6, 71, and N5 buses serve this location with both north and south bound stops at 78th and S. South Shore Dr, and it's just a short 2 block walk to the Metra Line (commuter rail) stop. Less than 3 miles to world renowned University of Chicago, the new Obama Presidential Library, the soon to be renovated Jackson Park Golf course, and just 9 blocks from the Campus of the soon to be built, 1 million s.f. Illinois Quantum and Microelectronics Park. Also, less than 11 miles to the center of downtown Chicago. New property management is in…

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$428,184
Reported Annual Expenses
$191,673
Estimated NOI
$236,511
Estimated Cap Rate
8.17%
Estimated GRM
6.76
Annual Taxes
$39,110 (2023)

Property Details

Units
32
Lot Size
16,875 SF
Lot Dimensions
135X125
Stories
4
Year Built
1961
Building Age
36-50 Years
Construction
Brick, Concrete
Parcel Number
21304150280000

Operations & Utilities

Heating
Central Bldg Heat
Cooling
Window Unit(s)
Tenant Pays
Electricity
Electric
Circuit Breakers

Location & Use

County
Cook
Market Area
Chicago - South Shore
Present Use
Multi-Family
Potential Use
Condominium
Frontage
City Street

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.