7200-02 S Stony Island Ave - Apartments FOR SALE


Chicago, IL 60649- Grand Crossing
$3,300,000 USD
847-624-6639
7200-02 S Stony Island Ave, Chicago, IL for Sale
$3,300,000 USD
Apartments - FOR SALE
1/15
null | 5.58% Cap Rate

7200-02 S Stony Island Ave
Chicago, IL 60649
Grand Crossing


HIGHLIGHTS

  • 24 Renovated Units: Twelve (12) 2 bed / 1 bath and twelve (12) 1 bed / 1 bath apartments with updated finishes and spacious layouts
  • Modernized Interiors: Stainless steel appliances, in-unit laundry, updated kitchens and baths, refinished hardwood floors
  • Separate Utilities: Individual furnaces and hot water tanks in each unit—minimizing ownership expenses
  • Major Capital Improvements: Updated electric and plumbing, newer steel rear porch, security cameras, intercom system w/ keyless entry + new iron gate

OVERVIEW

Triton is pleased to present 7200–02 S. Stony Island Avenue, a 24-unit multifamily investment opportunity located in the rapidly appreciating South Shore neighborhood of Chicago. This stately brick walk-up offers a highly desirable unit mix of twelve (12) spacious 2 bed / 1 bath and twelve (12) 1 bed / 1 bath apartments. The property has been meticulously maintained with significant capital improvements, blending modern upgrades with timeless vintage character. Each unit features expansive floor plans, large living rooms, generous bedroom sizes, and abundant natural light. Interior renovations include condo-quality finishes such as stainless steel appliances, in-unit laundry, updated kitchens and baths, and beautifully refinished hardwood flooring. All apartments are equipped with individual HVAC and hot water tanks, reducing owner operating costs. Building-level improvements include updated electrical and plumbing systems, a newer steel rear porch, extensive masonry and tuckpointing work, freshly painted exterior, keyless entry and intercom system installed, new wrought iron gate, security cameras, new doors throughout, and freshly updated interior hallways. South Shore continues to benefit from transformative public and private investment, including the nearby Obama Presidential Center and major infrastructure upgrades. Since ownership acquired the property, beyond the capital improvements, they have increased the gross rent amount by 23% . 7200–02 S. Stony Island offers investors the chance to acquire a stabilized, cash- flowing asset in current condition. A new owner can unlock slight rent increases and achieve an 7.42% cap rate, allowing for a significant cash-on-cash return for many years to come.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

24

PRICE/UNIT

$137,500

CAP RATE

5.58%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1898

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,044 SF

ZONING

C2-2

APN/PARCEL ID

20-26-211-016-0000

ASK ABOUT THIS PROPERTY

Harrison CohenTriton Realty Group, LLCMore Info
847-624-6639

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Harrison CohenTriton Realty Group, LLCMore Info
847-624-6639

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