7270 South Shore DrChicago, IL 60649

This exceptional 53-unit apartment building presents a compelling value-add opportunity in Chicago's vibrant South Shore neighborhood. Boasting a prime location just a short drive from the Loop and a block from the lakefront, this five-story, 40,000-square-foot building offers significant upside potential. The property, built in 1920 and extensively renovated in 2018, features 9 two-bedroom, 42 one-bedroom, and 1 studio unit. Amenities include 18 surface parking spaces (expandable to 22), two upgraded elevators (passenger and freight), and a unique 3,800-square-foot penthouse common area lounge with a rooftop deck offering stunning Lake Michigan views. Ten credit card-operated laundry machines provide tenant convenience and additional revenue. The building benefits from all-electric units with tenant-paid baseboard heating, minimizing operating costs for the owner. Currently generating a NOI of $569,496 and a 7.80% cap rate, the pro-forma NOI is projected at $816,453, resulting in an 11.18% cap rate. An assumable Freddie Mac loan with a balance of $3,808,690 at a 3.12% interest rate further enhances this investment's appeal. The property's strong in-place cash flow, coupled with its modern amenities and desirable location, makes it an ideal investment for value-add strategies. The Cook County APN is 21-30-107-024-0000. Asking price is $7,300,000, with a price per unit of $137,735.85.