7109 S Bennett Ave Chicago, IL 60649

Located in Chicago’s South Shore neighborhood, approximately seven miles south of downtown, 7109 S. Merrill is a sixty-eight-unit apartment building. The property is situated blocks from Lake Michigan and the South Shore Cultural Center, and in close proximity to Jackson Park, the future Obama Presidential Library, and the Jackson Park Golf Course. The unit mix comprises nine 3-bedroom/2-bathroom units, fifty-two 2-bedroom/1-bathroom units, and seven 1-bedroom/1-bathroom units. The property is approximately 60% complete, with a majority of units either rent-ready or currently occupied. An additional 30% of units require moderate renovations, including flooring, furnaces, kitchens, and bathrooms, while roughly 10% of the units require full rehabilitation. The building also requires the installation of two rear porches and significant improvements to two common areas. Recent capital improvements include new electrical service, new hot water tanks, newly constructed porches, and individual furnaces throughout. The South Shore area has experienced substantial growth in recent years, fueled by ongoing development and investment in the surrounding community. The property is well-positioned to benefit from continued demand and long-term appreciation due to its proximity to Jackson Park, Lake Michigan, and the Obama Presidential Center. The property size is 48915 square feet.