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7027 South Indiana Avenue Chicago, IL 60637

Sponsored
For Sale
$1,500,000

26-unit building, high potential returns.

Property size:
23,400 SF

Description

Added:
Jan 16, 2025
Days on Market:
361
This exceptional 26-unit multifamily property, located at 7027 South Indiana Avenue in Chicago's Grand Crossing neighborhood, presents a compelling investment opportunity. The building boasts 23,400 square feet situated on a 0.537 acre lot. Each of the 26 one-bedroom, one-bathroom units offers spacious living and dining areas, ensuring high tenant appeal. Significant capital improvements have recently been completed, including a new roof and porches (2020), a modern Weil-Mclain boiler (2020) with advanced R&D controls and sensors, upgraded electrical service, and a complete conversion to copper plumbing. The property's location, just six blocks east of the 69th Red Line station, provides convenient access to downtown Chicago while maintaining a desirable suburban feel within a vibrant urban setting. The current vacancy rate presents a significant value-add opportunity for an investor to increase returns through improved leasing and rent optimization. This property offers a strong foundation for immediate income generation and substantial long-term growth potential. The building'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.

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

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

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

City
Chicago
State
Illinois

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.
More about this property
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