7200 South Jeffery Boulevard Chicago, IL 60649
31,836 SF 25 units rare value add opportunity located on Jeffery Boulevard just outside Jackson Park in Chicago's South Shore neighborhood
Property size:
31,836 SFLot size:
0.73 Acres- Added:
- Jan 17, 2025
- Days on Market:
- 441
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 7200 South Jeffery Boulevard
General Information
- Standard status
- Active
- Property type
- Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
- Size
- 31,836 SF
- Elevators
- N/A
- Lot size
- 0.73 Acres
- Investment Type
- Value Add
Building Details
- Buildings
- 1
- Stories
- 4
Listing agent Noah (630) 209-3622
Listing office (630) 209-3622
Listing date Jan 17, 2025
Overview
Chicago Multifamily Value-Add Opportunity
Located at 7200 South Jeffery Boulevard in Chicago's South Shore neighborhood, this 25-unit multifamily property presents a value-add investment opportunity. The 31,836 square foot building is situated on a 0.73-acre lot. The unit mix includes twenty-two one-bedroom, one-bathroom units and three two-bedroom, two-bathroom units. The units are in varying conditions requiring renovation. Recent improvements include an updated porch system, a new boiler system and a separate hot water boiler system, 100% copper plumbing throughout, and an 800-amp electrical upgrade. Three of the building's four roofs are updated; the fourth roof requires patching. The property exhibits a high vacancy rate, with the seller working to increase this rate to facilitate comprehensive renovations. The seller is also in the process of removing ten AESRAP tenants. Approximately five market-rate tenants currently occupy the building. The location offers convenient access to public transportation via a nearby CTA bus stop providing express service to downtown Chicago. The South Shore neighborhood is experiencing a revitalization, fueled by proximity to Lake Michigan and the recently constructed Obama Presidential Library. This presents an opportunity for an investor to capitalize on the area's growth and transform this property into a high-performing asset.
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.5696
- Latitude
- 41.7621
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 31,836 SF 25 units rare value add opportunity located on Jeffery Boulevard just outside Jackson Park in Chicago's South Shore neighborhood
Where is this multifamily property located?
The property is located at 7200 South Jeffery Boulevard Chicago, IL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Twenty‑Two (22) 1Bd/1Ba & Three (3) 2Bd/1Ba; Updated & Newer Electric Service; 100% Copper Plumbing
