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$ 1,089,000

Est. payment -/mo

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7800 S Coles AVE Chicago, IL 60649

UPDATED:

09/26/2024 03:37 PM

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

Lot Dimensions 99' X 87'

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

Interior

Fireplace N

Building

Dwelling Type Multi Family 5+

Level or Stories 3

Listed by Aaron Sklar • Kiser Group Realty Inc

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