7270 South South Shore Drive Chicago, IL 60649

Located in Chicago's South Shore neighborhood, this 53-unit multifamily elevator building presents a compelling investment opportunity. The property is situated one block from the Lakefront and fifteen minutes from the Loop. The building, located on a 20,555 square foot parcel, underwent a comprehensive renovation in 2018, which included new plumbing, electric, and tear-off roofs. All mechanicals, including copper plumbing, hot water tanks, boiler, and the sewer line to the city, are new. The units feature stainless steel appliances, dishwashers, and new baths. There are ten credit card operable laundry machines. The property has ample on-site office and maintenance space, along with three common bathrooms, and a 3,800 square foot penthouse common area lounge with a roof deck that offers lake views. Ownership will sign a master lease for 12–24 months at $4,050 per month for the rooftop space, which is currently used for storage and property management. The building has two upgraded elevators (one passenger and one passenger/freight). The property has high-capacity electrical service with capacity for two additional electrical meters (1600A building and 400A elevators). There are 18 dedicated surface parking spots, with potential expansion up to 22 spots. All units are electric, and tenants are responsible for baseboard heat. The unit mix includes nine two-bedroom units, 42 one-bedroom units, and one studio unit. There is a dedicated on-site building manager.