7801 South Shore Dr Chicago, IL 60649

This is an attractive 32-unit brick building constructed in the 1960s, situated in the South Shore neighborhood. The unit mix includes 4 studios, 10 one-bedroom/one-bathroom units, 15 two-bedroom/one-bathroom units, and 3 three-bedroom/one-bathroom units. Renovations have been completed within the last 5-8 years, including the roof, porches, masonry/tuckpointing, and electrical systems. Each unit features updated bathrooms and kitchens from the same period. The building includes a laundry area in the basement and outdoor parking in the rear for 16-20 cars. The property is located half a block from Rainbow Beach Park and Rainbow Beach on Lake Michigan. Public transportation is readily accessible, with CTA bus routes 26, 6, 71, and N5 serving the location with north and south bound stops at 78th and S. South Shore Dr. It is also a short 2 block walk to the Metra Line (commuter rail) stop. The property is less than 3 miles from the University of Chicago, the Obama Presidential Library, and the Jackson Park Golf course. Additionally, it is 9 blocks from the future Illinois Quantum and Microelectronics Park, and less than 11 miles from downtown Chicago. New property management is in place working to stabilize rents. There is an assumable loan in place that will not adjust until 12-1-28, at which time it will float off SOFR.