6947 Jeffery BlvdChicago, IL 60649

Property Details for 6947 Jeffery Blvd

Year built

1962

Property size (Sq ft)

9,300 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7684

Longitude

-87.576

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