7549 Kenwood Ave Chicago, IL 60619

Property Details for 7549 Kenwood Ave

Property size

20,200 SF

Property type

Apartment buildings

Description

This exceptional 19-unit apartment building, located at 7549 S. Kenwood Avenue in Chicago's desirable Grand Crossing neighborhood, presents a compelling investment opportunity. The property boasts 20,200 square feet and offers a mix of eleven one-bedroom/one-bathroom and eight two-bedroom/one-bathroom units. All units feature hardwood floors and have been tastefully renovated with updated kitchens and bathrooms, ensuring high tenant appeal. The building's strong cash flow is evidenced by a 9% cap rate. Significant recent capital improvements include a new Smith central boiler system (2016), updated hot water heater and storage tank, newer windows and lintels, and a code-compliant exterior porch system with masonry and tuckpointing. The building's location is highly convenient, situated on a quiet, tree-lined corner near the 75th St Grand Crossing train station and a Jewel Osco grocery store. Its proximity to the Chicago Skyway provides easy access to downtown Chicago. The property's current rent levels offer substantial upside potential for increased returns, making this a truly attractive investment. The building's strong structural integrity and desirable unit mix, combined with its prime location and recent upgrades, position it for continued success and significant long-term value appreciation. This is a rare opportunity to acquire a stabilized, cash-flowing asset with considerable potential for growth.