42-Unit Apartment
For Sale
Contact for pricing
Pending
7048 S Merrill Ave, Chicago, IL 60649
Midrise apartment property with studios, one-bedroom homes, updated interiors, central boiler systems, elevator service, laundry, and parking.
Property SizeContact for details
Days on Market146
Property Features for 7048 S Merrill Ave
General Information
Standard status
Pending
Total Parking Spaces
20
Elevators
Yes
Property subtype
Multifamily
Units
Unit Mix
25 x 1BR/1BA, 17 x Studio
Multifamily Units
42
Amenities
on-site laundry
Building Details
Buildings
1
Listing Agency:
Kiser Group
Listed By:
Aaron Sklar · License #IL 475161507
(773) 293-5032
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 31 at 4:20AM
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.
7048 S. Merrill Ave is a 42-unit midrise apartment building in Chicago’s Jackson Park neighborhood. The unit mix includes 25 one-bedroom, one-bath apartments and 17 studio units. Interiors feature open layouts and hardwood flooring, with many apartments also offering stone countertops, newer cabinetry, and stainless steel or black appliances following turnover updates.
Building improvements include updated plumbing, a newer roof, a Weil-McLain central boiler, a separate newer hot water boiler, a modernized elevator, extensive masonry and tuckpointing work, and a rebuilt parapet wall. An onsite laundry facility provides additional income, while a 20-car parking lot is located north of the building.
The property is a few blocks from Lake Michigan and approximately two blocks from Jackson Park. The surrounding area includes recent development activity, including construction of the Obama Presidential Library and the Tiger Woods Golf Course. In-place performance is reported at a cap rate above 7.5%.
Building improvements include updated plumbing, a newer roof, a Weil-McLain central boiler, a separate newer hot water boiler, a modernized elevator, extensive masonry and tuckpointing work, and a rebuilt parapet wall. An onsite laundry facility provides additional income, while a 20-car parking lot is located north of the building.
The property is a few blocks from Lake Michigan and approximately two blocks from Jackson Park. The surrounding area includes recent development activity, including construction of the Obama Presidential Library and the Tiger Woods Golf Course. In-place performance is reported at a cap rate above 7.5%.
Key Highlights
- 42‑unit midrise with 25 one‑bedroom apartments and 17 studios
- Hardwood flooring and open layouts across the unit mix
- Many units include stone counters, newer cabinets, and stainless steel or black appliances
Property Analytics
Property Profile
Current Use
Lease Details
42
Residential units
Location Intelligence
Trade Area within ½ mile
1,158
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?
Apartment building - Midrise apartment property with studios, one-bedroom homes, updated interiors, central boiler systems, elevator service, laundry, and parking.
Where is this apartment building located?
The property is located at 7048 S Merrill Ave Chicago, IL.
What are key features of this property?
This property features: 42‑unit midrise with 25 one‑bedroom apartments and 17 studios; Hardwood flooring and open layouts across the unit mix; Many units include stone counters, newer cabinets, and stainless steel or black appliances
