Kiser Group is pleased to exclusively offer for purchase the sale of 7308 S. Crandon Ave, a thirty-four (34) unit mixed-use building located in Chicago’s South Shore neighborhood. The property is ideally positioned just 0.3 miles from the South Shore Metra Station, offering tenants convenient access to downtown Chicago and the lakefront. This location also benefits from proximity to Jackson Park and the future Obama Presidential Center, enhancing long-term neighborhood appeal.
7308 S. Crandon Ave features a unit mix of twenty (20) studios, seven (7) 1Bd/1Ba apartments, and seven (7) commercial storefronts. The residential units are equipped with electric baseboard heating, newer vinyl flooring, and individual in-unit breaker boxes. Recent capital improvements include a new hot water heater, contributing to reduced maintenance costs and operational efficiency.
This asset presents investors with a compelling opportunity to acquire a stabilized property with immediate cash flow and significant upside. The building currently operates at a 10% cap rate, with the potential to achieve a 12.06% cap rate through improved management and leasing strategies.