Greater Grand Crossing
For Sale
Contact for pricing
7042 S Michigan Ave, Chicago, IL 60637
32-unit apartment building in Chicago's South Side.
Property Size22,400 SF
Price / SF$84.82
Days on Market70
Property Features for 7042 S Michigan Ave
General Information
Standard status
Active
Size
22,400 SF
Property subtype
Multifamily
Building Details
Year Built
1925
Listing Agency:
Kiser Group
(773) 293-5032
Listed By:
Noah Birk · License #IL 475.125864
Source:
Crexi
Added: May 25
Changed: Jul 10
Last Checked: Aug 1 at 7:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kiser Group
Investment Insights
Based on property information with market context.
Located in the Greater Grand Crossing neighborhood of Chicago’s South Side, 7042 S. Michigan is a thirty-two unit apartment building. The property is situated along the Michigan Avenue corridor, benefiting from proximity to public transportation, retail corridors, and major thoroughfares. The building offers a mix of six 2-bedroom/1-bathroom units, twenty 1-bedroom/1-bathroom units, and six studio units. Each unit features hardwood and laminate floors. The building is equipped with a newer boiler, two new hot water heaters, and an additional storage tank. This income-producing asset is offered at an 8.41% cap rate with a 10.89% cash-on-cash return based on current operations. With continued management and rental optimization, the asset projects to an 11.43% pro forma cap rate and a 22.97% pro forma cash-on-cash return.
Key Highlights
- Attractive 8.41% cap rate with a 10.89% cash‑on‑cash return based on current operations.
- Potential upside with projected 11.43% pro forma cap rate and 22.97% pro forma cash‑on‑cash return through management and rental optimization.
- Stabilized, income‑producing 32‑unit apartment building.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
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?
Apartment building - 32-unit apartment building in Chicago's South Side.
Where is this apartment building located?
The property is located at 7042 S Michigan Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Attractive 8.41% cap rate with a 10.89% cash‑on‑cash return based on current operations.; Potential upside with projected 11.43% pro forma cap rate and 22.97% pro forma cash‑on‑cash return through management and rental optimization.; Stabilized, income‑producing 32‑unit apartment building.
