The subject property is a two-story brick building that includes surface parking spots in the rear. Each unit contains individual furnaces, water heaters, and newer electrical panels. With most of the major capital expenditures completed this value-add investment, is a perfect match for those looking for a light to medium rehab project as well as those looking to capitalize on the potential returns this property can have in the future. Conveniently situated just a short walk from Rainbow Beach, this property holds immense potential. Rainbow Beach Park contains a golf course, yacht club, and various other fun recreational activities.
The property is situated near the corner of S. Yates Blvd and 78th St., in Chicago’s historic South Shore neighborhood. It is only a 10 minute walk to South Shore’s Rainbow Beach. Surrounded by multiple CTA bus routes, proximity to the Metra Station, & iconic highway, Lake Shore Drive, this property makes transit to downtown a breeze. The eye catching architecture of this historic area highlights the prominence of the neighborhood. Chicago’s well known landmarks are scattered around this neighborhood drawing tourists in for a fun adventure. One of the largest science museums in the world, The Museum of Science & Industry (3. 2 miles), was the site of the 1893 World’s Columbian Exposition. South Shore encompasses Rainbow Beach, which provides access to Lake Michigan for residents and visitors alike. Jackson Park, the Museum of Science and Industry and The University of Chicago are all located within four miles of South Shore
- Value-Add Investment With 21 % Cash on Cash Return - Pro Forma
- 100 % Vacant
- 11 % Cap Rate - Pro Forma
- Capital Expenditure Improvements: New Roof (2022), New Furnaces In Unit (2022), New Water Heaters In Unit (2022), New Steel Porch (2023), Copper Plumbing (2022)
- Close to Multiple Modes of Transportation
- Neighborhood Benefits of Invest SOUTH/WEST