7027 South Indiana Avenue Chicago, IL 60637
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Property Features for 7027 South Indiana Avenue
General Information
- Property type
- Multifamily properties
- Square Feet
- 23,400 SF
- Price / Square Foot
- $64
- Elevators
- N/A
- Lot Size
- 23,400 SF
Building Details
- Buildings
- 1
- Stories
- 4
- Units
- 26
Overview
Grand Crossing Multifamily Investment Property
Located at 7027 South Indiana Avenue in Chicago's Grand Crossing neighborhood, this multifamily property features 26 units. The building encompasses 23,400 square feet on a 0.537 acre lot. Each unit includes one bedroom and one bathroom, with spacious living and dining areas. Capital improvements have been completed, including a new roof and porches in 2020, a Weil-Mclain boiler installed in 2020 with advanced R&D controls and sensors, upgraded electrical service, and a conversion to copper plumbing. Situated six blocks east of the 69th Red Line station, the property provides access to downtown Chicago. The current vacancy rate presents an opportunity for increased returns through improved leasing and rent optimization. The property's current financial performance indicates an 11.16% cap rate and a 21.90% cash return, with projections suggesting potential increases to over 13% cap rate and nearly 33% cash return through strategic management.
HighLights
- 26 spacious 1‑bedroom/1‑bathroom units in a desirable Chicago location.
- Recently updated roof, porches (2020), and copper plumbing throughout.
- Boasts a new Weil‑Mclain boiler (2020) with advanced R&D controls and sensors.
Property Profile
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- City
- Chicago
- State
- Illinois
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 26-unit building, high potential returns.
Where is this multifamily property located?
The property is located at 7027 South Indiana Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 26 spacious 1-bedroom/1-bathroom units in a desirable Chicago location.; Recently updated roof, porches (2020), and copper plumbing throughout.; Boasts a new Weil-Mclain boiler (2020) with advanced R&D controls and sensors.
