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7840 South Yates Boulevard Chicago, IL 60649

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For Sale
$400,000

8 unit walk-up building in Chicago's historic South Shore neighborhood

Property size:
6,800 SF
Lot size:
0.16 Acres
Added:
Jan 17, 2025
Days on Market:
453
Last Refresh:
Mar 16 at 9:06 am

Property Features for 7840 South Yates Boulevard

General Information

Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
6,800 SF
Elevators
N/A
Lot size
0.16 Acres

Building Details

Buildings
1
Stories
3
Units
8

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Listing Contact
Noah Birk

Listing agent Noah

Listing office

Listing date Jan 17, 2025


Overview

South Shore Multifamily Value-Add Opportunity

Located at 7840 South Yates Boulevard in Chicago's historic South Shore neighborhood, this eight-unit walk-up building presents an investment opportunity. The property consists of three one-bedroom, one-bathroom units and five two-bedroom, one-bathroom units. All units have individual furnaces and hot water tanks. Five of the eight units are currently gutted to the studs, offering a value-add opportunity for a new owner. Demolition work is complete, allowing for immediate renovation and lease-up. Recent upgrades include new porches and a new roof. South Shore is experiencing a revitalization, driven by its proximity to Lake Michigan, downtown Chicago, and the newly constructed Obama Presidential Library. The property's location offers tenants access to Chicago's public transportation system. This property offers immediate rental income from the three finished units and the potential for returns through the renovation of the remaining units. The 0.1561-acre lot and 6800 square foot building provide a foundation for a successful investment strategy.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Residential income homes

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

Location Insight

  • Map
  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.566591
Latitude
41.752373

FAQs

What type of property is this?
Multifamily property - 8 unit walk-up building in Chicago's historic South Shore neighborhood
Where is this multifamily property located?
The property is located at 7840 South Yates Boulevard Chicago, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Strong Value‑Add Opportunity; Five (5) 2Bd/1Ba & Three (3) 1Bd/1Ba; Units in Need of Renovation Gutted to Studs
More about this property
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