7100 Jeffery Blvd Chicago, IL 60649

Property Details for 7100 Jeffery Blvd

Year built

1933

Property size

52,193 SF

Property type

Mixed-use properties

Property subtype

Apartment buildings

Description

This exceptional mixed-use investment property, located at 7100 S. Jeffery Blvd in Chicago's vibrant South Shore neighborhood, presents a compelling opportunity. The four-story, 52,193 square foot building boasts 55 units: 46 residential units (15 studios, 28 one-bedrooms, one two-bedroom, and one three-bedroom) and nine street-level commercial spaces, plus a roof-mounted billboard. Currently operating at 100% occupancy, this stabilized investment offers a 7.94% cap rate and a pro-forma cap rate of 8.72%, with a net operating income (NOI) of $357,330 and a pro-forma NOI of $392,607. The asking price is $4,500,000, translating to $81,818 per unit. Built in 1933, the property benefits from significant recent upgrades, with most major mechanical systems replaced within the last ten years. Its prime location directly across from the Metra Electric District rail station and adjacent to Jeffery Plaza (featuring Local Market, Walgreens, Chase Bank, and more) ensures strong tenant demand. The South Shore neighborhood is experiencing significant growth, fueled by proximity to the South Shore Cultural Center, the future Tiger Woods-redesigned golf course, Jackson Park (future home of the Barack Obama Presidential Center), and the new Regal Mile Film Studios (anticipated opening in 2024). The property is zoned B1-3 and has a Cook County APN of 20-25-109-011-0000. This asset offers a value-add opportunity through potential increases in retail rental rates. Attractive assumable financing is available for qualified buyers with a 10-year term mortgage and 30-year amortization.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.5495

Latitude

41.7247