7150-52 S Cornell Ave - Apartments FOR SALE


Chicago, IL 60649- South Shore
$825,000 USD
248-977-0226
7150-52 S Cornell Ave, Chicago, IL for Sale
$825,000 USD
Apartments - FOR SALE
1/35
null | Request Cap Rate

7150-52 S Cornell Ave
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Desirable Unit Mix: (6) Studios & (6) 1 BD Units
  • Updated kitchens and baths with gas forced air furnaces throughout
  • New tear of roof/hot water tank (2022). Upgraded electric service
  • Ability to build out (3) additional garden units
  • Updated common areas
  • Pridefully maintained by long term ownership group

OVERVIEW

Interra Realty has been 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.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$101 USD /SF

# OF UNITS

12

PRICE/UNIT

$68,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

RT-4

APN/PARCEL ID

20-25-100-026-0000

ASK ABOUT THIS PROPERTY

Max GrossmanInterra RealtyMore Info
248-977-0226

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

Max GrossmanInterra RealtyMore Info
248-977-0226

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