7318 S Ridgeland Chicago, IL 60649

This investment opportunity features a three-building portfolio consisting of 42 units in Chicago's South Shore neighborhood. The properties are located near the Obama Presidential Library, Jackson Park, and Lake Michigan. The unit mix is as follows: 7318 S. Ridgeland contains five 2-bedroom/1-bathroom units, three 3-bedroom/1-bathroom units, and two 3-bedroom/2-bathroom units; 7319 S. Ridgeland comprises twenty-six 1-bedroom/1-bathroom units; and 7405 S. Euclid includes six 1-bedroom/1-bathroom units. Recent renovations include modern boilers with R&D control systems, updated windows and porches, modernized kitchens and bathrooms, and extensive masonry and tuckpointing work. The property has a current cap rate of 9.8% and a cash return of 13.83%, with potential for increased returns through improved leasing and rent adjustments, projecting a 10.86% cap rate and an 18.03% cash return. An assumable loan is available with approximate terms of $2,130,000, a 4.5% interest rate, and four years remaining. The total building size is 41,800 square feet, situated on approximately 0.96 acres.