Chicago Multifamily Value-Add
For Sale
$1,600,000
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 Size31,836 SF
Lot Size0.73 Acres
Price / SF$50.26
Days on Market628
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
Listed By:
Noah Birk
(630) 209-3622
Added: Jan 17, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
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.
Key Highlights
- Twenty‑Two (22) 1Bd/1Ba & Three (3) 2Bd/1Ba
- Updated & Newer Electric Service
- 100% Copper Plumbing
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 60649, IL
48,171
Population
28,249
Households
1.7
Avg Household Size
39
Median Age
25%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
13,381
Density / Sq Mi
$40,142
Median Household Income
$36,474
Median Earnings
$1,066
Median Rent
$199,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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
