7415 Colfax Ave
Chicago, IL 60649
Sq. Ft.
7415 Colfax Ave, Chicago, IL 60649

Executive Summary

Excellent positioned South Shore Multifamily building consisting of 14 Units. Unit mix consists of 3 studios, 8 one-bedroom apartments and 3 two-bedroom apartments. Capital Improvements have been made to the property through the last few years including roof, electric, twelve of the units upgraded and various additional improvements. The subject property still provides an investor a ‘Value add’ through completing the two garden units, improving units, maximizing market rents and further boosting gross income with a portion of the tenant base on voucher programs. The community has seen gentrification which is directly affecting the value of all classes of real estate in the area. This is evident not only in the rapid appreciation of residential properties, but also in commercial properties along Stony Island and 71st, 75th, and 79th Streets. Commercial properties are receiving high interest from national and local retailers alike. Couple these developments with the high quality of the physical structures, both single-family homes and multi-family buildings, and one can see that South Shore is the place to invest.

Property Location

Chicago » 60649 » 7415 Colfax Ave

Property Details

Status Closed
Listing Type For Sale
Property Type Multifamily
Size 6,000 Sq. Ft.
Price $750,000

Broker Contact

Tim Keenan

Timothy Keenan

Mobile: (773) 983-0741

Office: (773) 327-9300

Email: TimK@crer.com

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