7317-7326 S East End Chicago, IL 60649

Property Details for 7317-7326 S East End

Year built

1927

Property type

Mixed-use properties

Property subtype

Residential income homes

Description

Kiser Group is pleased to exclusively present for purchase 7317 S. East End, an incredibly maintained and meticulously operated thirty-one (31) unit courtyard located just outside Jackson Park in Chicago's South Shore neighborhood. The property is tucked away on a quiet and beautiful tree lined street directly across from Woodhull Park. Additionally, the property sits just two (2) blocks away from the 71st/Stony Island intersection, which provides tenants with a number of transportation options including the Metra Train to and from Chicago's downtown. 7317 S. East End is conveniently comprised of fifteen (15) 2Bd/1Ba and sixteen (16) 1Bd/1Ba units. All of which, however, feature spacious floorplans, hardwood floors throughout, along with updated kitchens & baths. Recent improvements to the building consist of, but are not limited to, a brand-new exterior porch system (2024), an updated roof, updated plumbing and electric, along with an updated high efficiency Smith boiler system. Additionally, the building is also equipped with a number of storage rooms in the basement along with a laundry facility for the tenants. 7317 S. East End presents an investor with the opportunity to acquire stabilized, cash-flowing asset in one of Chicago's fastest and rapidly improving neighborhoods. From day one, a new owner will benefit from a stable tenant base and inherit an in-place cap rate of 10.3%. Furthermore, solely by stabilizing the rent rates at levels already being achieved in the building, there is an opportunity to achieve a cap rate of nearly 13%.