South Shore Apartment Building
For Sale
$6,400,000
7109 S Bennett Ave, Chicago, IL 60649
68-unit apartment building in Chicago's South Shore neighborhood.
Property Size48,915 SF
Price / SF$130.84
Days on Market94
Property Features for 7109 S Bennett Ave
General Information
Standard status
Active
Size
48,915 SF
Property subtype
Multifamily
Building Details
Building Size
48,915 SF
Year Built
1923
Listing Agency:
Kiser Group
(630) 209-3622
Listed By:
Noah Birk · License #ILLINOIS #475125864
(630) 209-3622
Source:
Kisergroup
Added: May 27
Changed: Aug 26
Last Checked: Aug 28 at 10:03AM
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 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.
Key Highlights
- Located in Chicago's South Shore, an active and appreciating lakefront neighborhood experiencing substantial growth.
- Proximity to Jackson Park, Lake Michigan, and the future Obama Presidential Center.
- Sixty‑eight (68) unit apartment building with a mix of 3Bd/2Ba, 2Bd/1Ba, and 1Bd/1Ba units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,611
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 - 68-unit apartment building in Chicago's South Shore neighborhood.
Where is this apartment building located?
The property is located at 7109 S Bennett Ave Chicago, IL.
What is the asking price?
The asking price for this property is $6,400,000.
What are key features of this property?
This property features: Located in Chicago's South Shore, an active and appreciating lakefront neighborhood experiencing substantial growth.; Proximity to Jackson Park, Lake Michigan, and the future Obama Presidential Center.; Sixty‑eight (68) unit apartment building with a mix of 3Bd/2Ba, 2Bd/1Ba, and 1Bd/1Ba units.
