Chicago, IL 60649

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Description

VALUE-ADD 6-UNIT MULTIFAMILY | PRIME SOUTH SHORE LOCATION This 6-unit multifamily investment sits in the heart of South Shore, directly across from the Metra Electric Line and steps from the Fresh Market retail corridor, providing exceptional transit access and walkability-key drives tenant demand. South Shore continues to experience significant public and private investment, anchored by the upcoming Obama Presidential Library (opening June 2026), along with surrounding infrastructure, retail, and residential development that is accelerating neighborhood appreciation and rental growth. The property features six oversized 2-bedroom / 1-bath units, each offering sunrooms, separate living and dining rooms, large kitchens with pantries, and well-sized bedrooms-layouts that outperform smaller unit configurations and support strong rent growth. Unit sizes and layouts are ideal for repositioning through light to moderate renovations. The expansive rear yard provides a clear opportunity to add parking, creating additional income and enhancing tenant appeal-an uncommon value-add feature for the area. This asset presents a compelling value-add opportunity with upside through.....Market rent increases...Interior unit upgrades Potential parking income...And Long-term appreciation driven by major nearby development, Ideal for investors seeking stable cash flow today with meaningful upside tomorrow in one of Chicago's most actively revitalizing lakefront-adjacent neighborhoods.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active Under Contract
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1918
• Stories: 3
• Units: 6 units
• Basement: Finished, Partially Finished
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: North or South on Jeffery to 69th. 69th to Clyde. Clyde to 7047
• Electric Expense: 900
• Electric Expense Source: Owner Projection
• Fuel Expense: 12000
• Fuel Expense Source: Owner Projection
• Gross Income: 63360
• Gross Rent Multiplier: 7.8
• Gross Scheduled Income: 63360
• Heat/Ventilation: Gas, Hot Water
• Insurance Expense: 8000
• Insurance Expense Source: Owner Projection
• Janitor Expense: 4800
• Main Type: Commercial Sale
• Operating Expense: 38112
• Roof Structure: Flat
• Tax Annual Amount: 6412
• Tax Year: 2024
• Tenant Pays: Electricity
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 5280
• Township: Hyde Park
• Trash Expense: 2400
• Trash Expense Source: Owner Projection
• Type Multi-Family: Corridor-Exterior Entrance
• Water Expense Source: Owner Projection
• Water Sewer Expense: 3600