South Shore Multifamily Investment
7801 S South Shore Drive, Chicago, IL 60649
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32-unit building near Lake Michigan and public transportation.
Type:Multifamily
- Added:
- Feb 27, 2026
- Days on Market:
- 85
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 7801 S South Shore Drive
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing agent David McLennan License #IL 475165323
Listing office Pearson Realty Group (773) 325-2800
Listing date Feb 27, 2026
Source Crexi
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 Pearson Realty Group
HighLights
- Attractive assumable loan in place with a fixed rate until 12‑1‑28.
- Updated units with renovated baths and kitchens.
- Recent significant capital improvements: roof, porches, masonry/tuckpointing, and electrical work.
- Desirable location near Rainbow Beach Park and Lake Michigan.
- Strong transportation access: CTA bus lines and Metra commuter rail.
- Proximity to major institutions and developments: University of Chicago, Obama Presidential Library, Jackson Park Golf Course, and Illinois Quantum and Microelectronics Park.
Overview
This is an attractive 32-unit brick building constructed in the 1960s, situated in the South Shore neighborhood. The unit mix includes 4 studios, 10 one-bedroom/one-bathroom units, 15 two-bedroom/one-bathroom units, and 3 three-bedroom/one-bathroom units. The building has undergone renovations within the last 5-8 years, including updates to the roof, porches, masonry/tuckpointing, and electrical systems. Each unit has been updated with bathroom and kitchen renovations during the same period. Laundry facilities are located in the basement area. Outdoor parking is available in the rear of the property for 16-20 cars. The property is located half a block from Rainbow Beach Park and Rainbow Beach on Lake Michigan. Public transportation is readily accessible, with the CTA 26, 6, 71, and N5 buses serving the location with north and south bound stops at 78th and S. South Shore Dr. The Metra Line (commuter rail) stop is a short 2-block walk away. The property is less than 3 miles from the University of Chicago, the future Obama Presidential Library, and the upcoming renovated Jackson Park Golf course. It is also located 9 blocks from the future Illinois Quantum and Microelectronics Park, and less than 11 miles from downtown Chicago. New property management is in place and is working to stabilize rents. There is an assumable loan in place at an attractive rate that will not adjust until 12-1-28, at which time it will float off SOFR.
Location Intelligence
Current Use by Public Records
Seniorlife
Insurance Agency
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.5510817
- Latitude
- 41.7552541
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 32-unit building near Lake Michigan and public transportation.
Where is this apartment building located?
The property is located at 7801 S South Shore Drive Chicago, IL.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: Attractive assumable loan in place with a fixed rate until 12‑1‑28.; Updated units with renovated baths and kitchens.; Recent significant capital improvements: roof, porches, masonry/tuckpointing, and electrical work.
