7150-52 S Cornell Avenue
Chicago, IL 60649

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Description

Exclusively engaged to present for sale 7150-52 S. Cornell Ave. Located in Chicago's historic South Shore neighborhood, the subject property contains 12 apartment units featuring (6) Studios and (6) 1 BD/1 BA unit layouts. The units feature spacious layouts and have been been renovated with updated kitchens and baths. There are gas forced air furnaces in every unit. Current ownership has pridefully maintained the building and made significant Cap-Ex upgrades including a new tear off roof and hot water tank in 2022. The property also features upgraded electric service. A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market upon tenant turnover. There is also infrastructure in place for the buildout of (2) additional garden apartments.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1926
• Stories: 3
• Units: 12 units
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Directions: 7150-52 S. Cornell Ave. MAJOR INTERSECTION 71st & Cornell Ave.
• Electric Expense: 600
• Fuel Expense: 4725
• Gross Income: 126840
• Gross Rent Multiplier: 6.5
• Heat/Ventilation: Forced Air
• Information: List Broker Must Accompany, 48-Hr Notice Required
• Insurance Expense: 8361
• Janitor Expense: 3000
• Main Type: Commercial Sale
• Maintenance Expense: 3000
• Operating Expense: 40888
• Other Expense: 3000
• Tax Annual Amount: 15558
• Tax Year: 2024
• Tenant Pays: Electricity, Heat
• Total Monthly Income: 10570
• Trash Expense: 6397
• Type Multi-Family: Courtyard
• Water Sewer Expense: 5907