6700 S Merrill Ave - Apartments FOR SALE


Chicago, IL 60649- South Shore
$3,250,000 USD
773-293-5090
6700 S Merrill Ave, Chicago, IL for Sale
$3,250,000 USD
Apartments - FOR SALE
1/5
null | 10.37% Cap Rate

6700 S Merrill Ave
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Prime Jackson Park Location
  • Thirty-Five (35) 2Bd/1Ba, Six (6) 3Bd/1Ba, & Nine (9) 1Bd/1Ba
  • Significant Value Add Opportunity
  • Modern Weil-McLain Boiler w/ R&D Control System

OVERVIEW

Kiser Group is pleased to exclusively present for purchase 6700 S. Merrill, a fifty (50) unit apartment building in Chicago's historic Jackson Park neighborhood. Located in one of the most sought after pockets just seven (7) miles south of Chicago's downtown, the building sits blocks away from Lake Michigan and the South Shore Cultural Center, and also sits adjacent to Jackson Park - the future site of the Obama Presidential Library and renowned Jackson Park Golf Course. 6700 S. Merrill is comprised of nine (9) 1Bd/1Ba, thirty-five (35) 2Bd/1Ba, and six (6) 3Bd/1Ba units. All of which, however, feature spacious layouts and an abundance of natural light. The building is a mix between updated units and units that need to be turned. Further improvements to the building include, but are not limited to, an on-site laundry facility, newer boiler (2018) w/ R&D control system, and an abundance of masonry & tuckpointing work. 6700 S. Merrill presents an investor with the opportunity to acquire a property in one of Chicago's most desirable and appreciating neighborhoods. While the neighborhood has seen unprecedented growth over the past few years, further developments continue to aid the neighborhoods growth. With the addition of both the Presidential Library and the newly designed Jackson Park Golf Course, the neighborhood is slated to continue to further appreciate.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$81 USD /SF

# OF UNITS

50

PRICE/UNIT

$65,000

CAP RATE

10.37%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jackson Park | 50 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,039 SF

ZONING

RM-5, Chicago

APN/PARCEL ID

20-24-402-010-0000

ASK ABOUT THIS PROPERTY

Noah BirkKiser GroupMore Info
773-293-5090

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Noah BirkKiser GroupMore Info
773-293-5090

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.