lot: 7841 sq ft lot
Commercial: Multi Family 5+ - MLS# 12588904
Tools & Resources:
Description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 7661 N Sheridan Road. The four-story building contains (23) total units comprised of (1) 3-Bedroom/2-Bathroom unit, (1) 2-Bedroom/1-Bathroom unit, (4) 1-Bedroom/1-Bathroom units, (11) Studio units, & (6) Studio units with detached bathrooms. There are (5) total garage spaces in the rear. The property currently grosses over $279k in gross rents and has additional income on top of that. Current ownership has taken care of numerous CAPEX expenses at the building - the whole front facade was redone (tuckpointing & lintels), upgraded electrical service (800 AMPS), and 19/23 units have undergone some sort of cosmetic upgrades. Steps away from Lake Michigan at $100,000/unit - deals like this one don't come available often.
Features
- Property Type: Commercial
- Sub Type: Multi Family 5+
- Listing Status: Active Under Contract
- County/Area: Cook County
- Zip Code: 60626
- Year Built: 1920
- Stories: 4
- Units: 23 units
- Lot Size: 7841 sq ft lot
- Zoning: MULTI
- Approximate Age: Older
- Built Before 1978 (Y/N): Yes
- Cap Rate: 7.27
- Construction Materials: Brick
- Directions: Property is located on the east side of Sheridan Rd. Just north of N Rogers Ave
- Electric Expense: 3005
- Expense Year: 2025
- Fuel Expense: 15453
- Gross Income: 291520
- Gross Rent Multiplier: 7.88
- Gross Scheduled Income: 291520
- Heat/Ventilation: Gas, Radiators, Radiant
- Indoor Parking: 1-5 Spaces
- Information: 48-Hr Notice Required
- Insurance Expense: 10019
- Janitor Expense: 3000
- Lot Size Square Feet: 8011
- Main Type: Commercial Sale
- Maintenance Expense: 14950
- Manager Expense: 13847
- Operating Expense: 124287
- Other Expense: 17301
- Other Expense Source: Combination
- Tax Annual Amount: 32364
- Tax Year: 2024
- Total Annual Expense Source: Combination
- Total Monthly Income: 23290
- Trash Expense: 5144
- Type Multi-Family: Corridor-Exterior Entrance
- Water Sewer Expense: 9204
©2026, Midwest Real Estate Data (MRED). All rights reserved.