7535 S Saginaw Ave - Apartments FOR SALE


Chicago, IL 60649- South Shore
$1,500,000 USD
773-293-5090
7535 S Saginaw Ave, Chicago, IL for Sale
$1,500,000 USD
Apartments - FOR SALE
1/5
null | 7.51% Cap Rate

7535 S Saginaw Ave
Chicago, IL 60649
South Shore


HIGHLIGHTS

  • Significant Rental Upside
  • Spacious & Open Floorplans
  • Onsite Laundry Facility
  • Updated Kitchens & Baths
  • Twelve (12) 1Bd/1Ba & Eight (8) 2Bd/1Ba

OVERVIEW

Kiser Group is pleased to exclusively present for purchase 7535 S. Saginaw Ave, a beautiful twenty (20) unit building located in Chicago's historic South Shore Neighborhood, just a few blocks from Lake Michigan and steps away from the Windsor Park Community Garden. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes. 7535 S. Saginaw consists of twelve (12) 1b/1ba units and eight (8) 2b/1ba units. The apartments are currently fully occupied and have open floor plans. All of the units feature modern kitchen & baths with large living rooms and LVP flooring throughout. Additional improvements to the building consist of, but are not limited to, on site laundry facility, newer hot water tanks, and a code compliant porches. 7658 S. Marquette presents an investor with a unique opportunity to acquire a stabilized, cash-flowing asset. From day one, a new owner will realize an in-place cap rate of 7.5% as well as an in-place cash-on-cash return of 7.29%. Furthermore, by stabilizing rents to market rate levels already being achieved in the building, an investor could achieve a cap rate of over 10.5% and a cash-on-cash return of 20.02%.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$108 USD /SF

# OF UNITS

20

PRICE/UNIT

$75,000

CAP RATE

7.51%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,261 SF

ZONING

-

APN/PARCEL ID

21-30-305-017-0000

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 Policy.