Essex Realty Group Inc. is pleased to announce the sale of 7748 S. Kingston Ave, a 34 unit multifamily building located in the South Shore, which is known for it’s beautiful beaches and historic architecture. The property sits within walking distance of Rainbow Beach on a 0.33 acre lot. Rainbow Beach contains a golf course, yacht club, and beach among other fun recreational activities.

The subject property possess and ideal unit mix consisting of six (6) large studio apartments, nineteen (19) one-bedroom apartments and nine (9) two-bedroom apartments. The typical unit contains hardwood floors throughout, laminate countertops, black appliances, and a radiator heater.

Several of the building’s systems have been recently replaced including the water heater, boiler system, and new plumbing. This value add opportunity is an excellent investment for both a new and experienced multifamily investor.

The subject property is located in Chicago’s South Shore neighborhood, which borders Lake Michigan to the East, Woodlawn to the North, South Chicago to the South and Avalon Park to the West. The subject property sits just 0.5 miles from the Cheltenham/79th Street and Windsor Park Metra stations. Rainbow Beach is located only 0.8 miles from the subject property. Located just 2.0 miles North of the subject property is Jackson Park, which contains a golf course, yacht club, beach and the Museum of Science and Industry.

The proximity to Rainbow Beach Park provides excellent outdoor activity. It covers 142 acres and has amenities such as a beach and comfort station, community garden, basketball/ tennis/ handball courts, baseball diamonds, and two playgrounds. Many of these spaces are available for rental including our fields, gymnasium and multipurpose clubrooms. Rainbow Beach is home to one of the most ecologically important natural areas in the city, Rainbow Beach Dunes. It offers various programs and activities throughout the year and is home to historic landmarks, such as the Rainbow Beach Park Fieldhouse.

• 34 Unit Value Add Opportunity
• Quick walk to Rainbow Beach Park
• Close to the Windsor Park and Cheltenham/79th Street Metra stations
• Located a block away from the 79th street retail corridor.
• Excellent Unit Mix of studio, 1-bedroom, and 2-bedroom apartments