7042 S Michigan Ave, Chicago, IL 60637

Building Details

Year Built

1925

Listing agent Noah Birk License #IL 475.125864

Listing office Kiser Group a***@kisergroup.com Show Phone

Listing date May 25, 2026

Source Crexi

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

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Overview

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.

Suggested Use

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

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

Location Insight

• Map
• Local Demand

City

Chicago

County

Cook

State

Illinois

Longitude

-87.622181

Latitude

41.7660929

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FAQs

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.