For Sale
$1,200,000

6947 Jeffery Blvd Chicago, IL 60649

12-Unit Multifamily, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
132
This 12-unit apartment building, located at 6947 S Jeffery Blvd in Chicago, IL 60649, presents a compelling investment opportunity. Boasting 9,300 square feet, the property offers a strong 8.08% cap rate and is priced at $1,200,000. Built in 1962, the building comprises nine one-bedroom/one-bathroom units and three two-bedroom/one-bathroom units. Eleven units feature updated flooring, kitchens, and baths with stone countertops and stainless steel appliances. Recent improvements include individual furnaces, updated copper plumbing, newer windows, a new roof, steel porches, and an efficient hot water boiler. The property benefits from its prime location on Jeffery Boulevard in Jackson Park, just blocks from the Obama Presidential Library and the Jackson Park Golf Course, and within walking distance of the Lakefront Trail. Its proximity to Lake Shore Drive and a CTA bus stop enhances its appeal. The building offers immediate cash flow and a value-add potential through the modernization of the remaining unit, further increasing the cap rate. This presents a unique chance to acquire a multifamily property in a rapidly developing area of Chicago.

Highlights

  • Prime Jackson Park location, near Obama Presidential Library and Jackson Park Golf Course.
  • 8.08% cap rate.
  • Eleven units feature updated kitchens, baths with stone countertops, and stainless steel appliances, and updated flooring.
  • Individual furnaces and updated copper plumbing.
  • Conveniently located adjacent to a CTA bus stop.

Property Details for 6947 Jeffery Blvd

Property type
Apartment buildings
Square Feet
9,300 SF
Year Built
1962
Units
12

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.7684119
Longitude
-87.5760456

FAQs

What type of property is this?
Apartment building - 12-Unit Multifamily, High Cap Rate
Where is the apartment building located?
The property is located at 6947 Jeffery Blvd Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Prime Jackson Park location, near Obama Presidential Library and Jackson Park Golf Course.; 8.08% cap rate.; Eleven units feature updated kitchens, baths with stone countertops, and stainless steel appliances, and updated flooring.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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6947 Jeffery Blvd
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