Mixed-Use Property with Leased
For Sale
Contact for pricing
7450 South Luella Avenue, Chicago, IL 60649
Includes 13 studio apartments and four retail storefronts, with two currently leased for ongoing income.
Property Size10,775 SF
Price / SF$106.26
Days on Market23
Property Features for 7450 South Luella Avenue
General Information
Standard status
Active
Size
10,775 SF
Class
C
Property subtype
Mixed Use
Zoning
C1-2
Net Operating Income
$115,056
Additional Details
Multifamily Units
13
Building Details
Year Built
1930
Year Renovated
2026
Buildings
1
Units
17
Listing Agency:
Real Realty Inc.
Listed By:
James Clough · License #IL - 475.147791
Source:
Crexi
Added: Jul 22
Changed: Aug 12
Last Checked: Aug 11 at 8:10PM
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 Real Realty Inc.
Investment Insights
Based on property information with market context.
Leulla Heights is a mixed-use investment property featuring 13 studio apartments and four commercial storefronts, with two of the retail spaces currently leased. Residential units are reported to be generating “premium” rents of $1,000–$1,500 per month, while the commercial spaces are reported at $700–$1,500 per month depending on size.
The property is positioned along the 75th Street retail corridor and is described as surrounded by a strong residential neighborhood near Luella Avenue, supporting an income mix across apartment and street-level retail.
The offering also highlights mechanical systems including a Smith cast-iron boiler installed in 2014 and two 73-gallon hot water tanks installed in 2023. The seller’s materials project a 10%+ cap rate and a 15%+ cash-on-cash return, citing in-place cash flow with additional value-add potential.
The property is positioned along the 75th Street retail corridor and is described as surrounded by a strong residential neighborhood near Luella Avenue, supporting an income mix across apartment and street-level retail.
The offering also highlights mechanical systems including a Smith cast-iron boiler installed in 2014 and two 73-gallon hot water tanks installed in 2023. The seller’s materials project a 10%+ cap rate and a 15%+ cash-on-cash return, citing in-place cash flow with additional value-add potential.
Key Highlights
- Mixed‑use property with 13 studio apartments and 4 commercial storefronts along the 75th Street retail corridor
- Two of the four storefronts are currently leased for ongoing retail income
- Apartment rents are reported at $1,000–$1,500 per month for the 13 studios
Property Analytics
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
1,378
Businesses Nearby
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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?
Mixed-use property - Includes 13 studio apartments and four retail storefronts, with two currently leased for ongoing income.
Where is this mixed-use property located?
The property is located at 7450 South Luella Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: Mixed‑use property with 13 studio apartments and 4 commercial storefronts along the 75th Street retail corridor; Two of the four storefronts are currently leased for ongoing retail income; Apartment rents are reported at $1,000–$1,500 per month for the 13 studios
