7027 South Indiana Avenue Chicago, IL 60637
- Residential income homes
Current Use by Public Records
- Residential income homes
Property Details for 7027 South Indiana Avenue
- Property type
- Residential income homes
- Property subtype
- Residential income properties
Description
Kiser Group is pleased to exclusively offer for purchase 7027 S. Indiana Ave, a Twenty-Six (26) unit building in Chicago’s Grand Crossing Neighborhood. This property issituated six (6) blocks east of the 69th Red Line Station, providing quick and easy access to Chicago’s downtown. In addition, the building is encompassed by an abundance of single-family homes, offering residents a suburban feel while still being in an urban environment. 7027 S. Indiana Ave is comprised of Twenty-Six (26) 1Bd/1Ba units. The units are incredibly spacious, providing instant appeal to potential tenants through spacious floor plans with both living and dining areas. In addition, recent capex improvements including a newer Weil-Mclain Boiler (2020) with R&D controls and sensors, upgraded electric service, copper plumbing, newer roof and porches (2020) create an attractive investment opportunity for the long-term life of the property. 7027 S. Indiana Ave presents an investor a rare opportunity to acquire a property with upmost potential and spacious units. From day one, an investor will realize a cap rate of 11.16% and a cash return of 21.90%. Through improved leasing and raising rents to levels already being achieved, the building offers an investor the potential to reach a cap rate over 13% and nearly 33% cash return.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- State
- Illinois
- Longitude
- -87.6209
- Latitude
- 41.7965
