Essex Realty Group Inc. is pleased to announce our exclusive listing to sell 1758 E. 72nd Street, a 3-story multifamily building in Chicago’s South Shore neighborhood. This property received great care and maintenance over the last 25 years with owner on-site. This well-maintained brick walk-up comprises of six (6) 2-bedroom/1-bathroom apartments. 1758 E. 72nd offers a prime location just a block away from the popular Metra Electric (Bryn Mawr Station) and an array of grocery stores and shops. This multifamily opportunity comes with a value-add aspect right from the moment of acquisition. Currently, the average apartment rents at $975, and similar units in the area are renting at $1350 providing investors the opportunity to increase rents by $375.
The subject property is situated in the vibrant South Shore neighborhood of Chicago. This property enjoys a convenient location in a well-established community, offering residents easy access to local amenities and transportation options. Within walking distance, you’ll find the beautiful Lake Michigan shoreline, perfect for leisurely strolls and enjoying the lakeside atmosphere. South Shore boasts excellent public transportation with multiple CTA bus routes and proximity to the Metra Station, making commuting a breeze. The neighborhood is characterized by diverse architecture and a rich history, showcasing the area’s prominence. Nearby, you can explore notable attractions such as Rainbow Beach and Jackson Park, adding to the area’s appeal. With its central location and access to the city’s cultural and recreational offerings, 1758 E 72nd St offers a comfortable and well-connected urban living experience in Chicago’s South Shore.
- Professionally Owned and Operated by Long Term Local Owner
- Strong Rental Upside: Current Rents are ~$400 Below Market Rates
- Stabilized, Cash-Flowing Asset
- Favorable Mix of All Spacious Two Bedroom Units With Living Room, Dining Room, and Sunroom
- Highly Desirable South Shore Location: Walking Distance to Grocery Stores, Rainbow Beach, Metra Electric Stations
- Brick Five (5) Car Garage In Rear Of Building