7840 South Yates Boulevard Chicago, IL 60649
8 unit walk-up building in Chicago's historic South Shore neighborhood
Property size:
6,800 SFLot 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
Listing agent Noah (630) 209-3622
Listing office (630) 209-3622
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
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.566591
- Latitude
- 41.752373
Nearby Similar for Sale
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
