7800 S Coles AVE Pending Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60649
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 11987516
Maintenance Fees $4,675
Year Built 1962
Annual Tax Amount $5,745
Tax Year 2022
Property Description
7800 S. Coles is a beautiful eleven (11) California-style building located in Chicago's historic South Shore Neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago's Lake Shore Drive which provides tenants easy access to Chicago's downtown in roughly fifteen minutes. 7800 S. Coles is comprised of five (5) 1b/1ba and six (6) 2bd/1ba. The units all feature hardwood flooring throughout and updated LVP flooring where necessary. Furthermore, additional improvements to the building consist of but are not limited to, in-unit HVAC, all copper plumbing, an updated roof, laundry access for tenants, and a paved parking lot in the rear. 7800 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of over 8.2%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.
Location
State IL
County Cook
Area Chi - South Shore
Building
Dwelling Type Multi Family 5+