7270 South Shore Dr Chicago, IL 60649

Located in Chicago's South Shore neighborhood, this 53-unit multifamily elevator building offers a compelling investment opportunity. The property is situated one block from the Lakefront and fifteen minutes from the Loop, providing convenient access to Lake Shore Drive. The building, resting on a 20,555 square foot parcel, underwent a comprehensive renovation in 2018, including new plumbing, electric, and tear-off roofs. All mechanicals, including copper plumbing, hot water tanks, boiler, and the sewer line to the city, are new. Modern amenities include stainless steel appliances, dishwashers, and new baths in all units. The unit mix comprises nine two-bedroom units, forty-two one-bedroom units, and one studio unit. The property features a dedicated on-site building manager, ten credit card operable laundry machines, ample on-site office and maintenance space, and three common bathrooms. A 3,800 square foot penthouse common area lounge with a roof deck offers lake views. The building is equipped with two upgraded elevators (one passenger and one passenger/freight) and high-capacity electrical service with room for two additional electrical meters (1600A building and 400A elevators). There are 18 dedicated surface parking spots, with potential expansion up to 22 spots. All units are electric, with tenants responsible for baseboard heat. The property provides excellent in-place cash flow with potential for value-add investors.