7220 S Yates Boulevard
Chicago, IL 60649

Tools & Resources:

Description

FFully gut-renovated six-unit walk-up in Chicago's South Shore | One block from the South Shore Cultural Center, one block from the Metra, steps from Lake Michigan | Fully occupied, all units subsidized through Chicago Housing Authority | Four 2-bedroom and two 3-bedroom units each exceeding 1,200 sq ft with updated kitchens and baths, exposed brick, separate living and dining rooms, and front and rear sunrooms | Taken down to the studs in 2016 - new electrical, copper plumbing, windows, and full unit renovations throughout | On-site laundry and five rear parking spaces | Minutes from the Obama Presidential Center opening June 2026, and just south of the newly groundbroken Illinois Quantum & Microelectronics Park - a $9 billion lakefront campus on the former U.S. Steel South Works site expected to bring thousands of jobs to the South Side | Stabilized, turnkey asset at the center of one of Chicago's most active growth corridors |

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1915
• Stories: 3
• Units: 6 units
• Basement: Unfinished
• Zoning: MULTI
• # Of Dishwashers: 6
• # Of Ranges: 6
• # Of Refrigs: 6
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Cap Rate: 7.69
• Construction Materials: Brick
• Cooling: Window Unit(s)
• Directions: Lakeshore Drive to 71st Street to Yates
• Electric: Circuit Breakers
• Electric Expense: 407
• Electric Expense Source: Actual
• Expense Year: 2025
• Fuel Expense: 9242
• Fuel Expense Source: Actual
• Gross Income: 121908
• Gross Rent Multiplier: 6.56
• Gross Scheduled Income: 121908
• Heat/Ventilation: Radiators
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 13000
• Insurance Expense Source: Actual
• Janitor Expense: 2700
• Location: In City Limits
• Main Type: Commercial Sale
• Maintenance Expense: 3000
• Manager Expense: 6600
• Manager Expense Source: AC
• Operating Expense: 54325
• Other Expense: 9635
• Other Expense Source: Broker Projection
• Ownership Type: Limited Partnership
• Repairs-Decor Expense Source: Combination
• Roof Structure: Flat
• Tax Annual Amount: 9452
• Tax Year: 2024
• Tenant Pays: Electricity
• Total Annual Expense Source: Combination
• Total Monthly Income: 10159
• Township: Hyde Park
• Trash Expense: 3660
• Trash Expense Source: Actual
• Type Multi-Family: Corridor-Interior Entrance
• Utilities: Sewer Connected, Water Available, Cable Available
• Water Expense Source: Actual
• Water Sewer Expense: 2724
• Water Source: Municipal Water