60-Unit Elevator Apartment
7854 South South Shore Drive, Chicago, IL 60649
For Sale
$4,794,000
Built in 1974 with an elevator, on-site laundry, and individual electric metering for 60 units.
Property Size43,757 SF
Days on Market177
Property Features for 7854 South South Shore Drive
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
elevator
on-site laundry
individual electric metering
Building Details
Building Size
Year Built
Listed By:
Matthew Petersen
(269) 873-6101
Source:
33realty
Added: May 14
Changed: Oct 25
Last Checked: Nov 6 at 7:28AM
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 Matthew Petersen
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Investment Insights
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7854 S South Shore Drive is a 60-unit, elevator apartment building built in 1974 and offered for sale as a de-conversion opportunity. The unit mix includes 13 studio/1-bath apartments, 31 one-bedroom/1-bath apartments, and 16 two-bedroom/2-bath apartments. On-site amenities include an elevator and on-site laundry, and each unit has individual electric metering.
The property is located near Rainbow Beach and within the South Shore neighborhood of Chicago, which is described as a lakefront community with transit access including the South Shore Metra and Windsor Park Metra, as well as bus service and close access to Lake Shore Drive.
For ownership structure, the listing notes the opportunity to bring the building under single ownership, with rents believed to be below market and additional consistency as units become available.
The property is located near Rainbow Beach and within the South Shore neighborhood of Chicago, which is described as a lakefront community with transit access including the South Shore Metra and Windsor Park Metra, as well as bus service and close access to Lake Shore Drive.
For ownership structure, the listing notes the opportunity to bring the building under single ownership, with rents believed to be below market and additional consistency as units become available.
Key Highlights
- 60‑unit elevator building built in 1974 in Chicago’s South Shore neighborhood
- Unit mix includes 13 studio/1‑bath, 31 1‑bedroom/1‑bath, and 16 2‑bedroom/2‑bath units
- On‑site laundry and elevator in the building
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Lease Details
60
Residential units
Location Intelligence
Trade Area within ½ mile
368
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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
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Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1974 with an elevator, on-site laundry, and individual electric metering for 60 units.
Where is this apartment building located?
The property is located at 7854 South South Shore Drive Chicago, IL.
What is the asking price?
The asking price for this property is $4,794,000.
What are key features of this property?
This property features: 60‑unit elevator building built in 1974 in Chicago’s South Shore neighborhood; Unit mix includes 13 studio/1‑bath, 31 1‑bedroom/1‑bath, and 16 2‑bedroom/2‑bath units; On‑site laundry and elevator in the building
