7220 S Yates Blvd - Apartments FOR SALE


Chicago, IL 60649- South Shore
$750,000 USD
847-714-2913
7220 S Yates Blvd, Chicago, IL for Sale
$750,000 USD
Apartments - FOR SALE
1/16
null | 7.99% Cap Rate

7220 S Yates Blvd
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Gut Renovation Complete Full 2016 renovation: new electric, plumbing, kitchens, baths & building
  • CHA Voucher Stability 5 of 6 units on CHA vouchers — government-backed rent with no credit risk
  • Oversized Units All 2BR/1BA units at ~1,200 SF each — well above market average for the submarket
  • Exceptional Amenity Location 1 block to South Shore Cultural Center, Metra station & minutes to the lakefront.

OVERVIEW

Fully gut-renovated six-unit walk-up in South Shore, one block to the South Shore Cultural Center, Metra, and Lake Michigan. 100% occupied with all six units leased to CHA Housing Choice Voucher holders — government-backed rent, zero credit risk. 2016 renovation included new electrical, plumbing, kitchens, baths, windows, and refreshed interiors — minimal near-term cap-ex. Unit mix: 4 × 2BR/1BA and 2 × 3BR/1BA, each ~1,200 SF with separate living/dining rooms, dual sunrooms, and original exposed brick. In-place Year 1 CAP rate of 8.12% on $750,000 ($125,000/unit). Mark-to-market upside of ~$7,000/yr available on natural turnover. 2027 Cook County reassessment fully underwritten — five-year average CAP of 8.11%. South Side catalyst pipeline within minutes: Illinois Quantum & Microelectronics Park (former U.S. Steel South Works), Obama Presidential Center, and Regal Mile Studios.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$94 USD /SF

# OF UNITS

6

PRICE/UNIT

$125,000

CAP RATE

7.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1950

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,238 SF

ZONING

RT-4

APN/PARCEL ID

20-25-213-017-0000

ASK ABOUT THIS PROPERTY

Matthew NeistatJameson Commercial Real EstateMore Info
847-714-2913

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Matthew NeistatJameson Commercial Real EstateMore Info
847-714-2913

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