7257 S Princeton Avenue
Chicago, IL, 60621
$995,000
Beds
0 Baths
SqFt
0 Acres
$995,000
7257 S Princeton Avenue
Chicago, IL, 60621
MLS #MRD11928370 img 0MLS #MRD11928370 img 1MLS #MRD11928370 img 2MLS #MRD11928370 img 3MLS #MRD11928370 img 4MLS #MRD11928370 img 5MLS #MRD11928370 img 6MLS #MRD11928370 img 7MLS #MRD11928370 img 8MLS #MRD11928370 img 9MLS #MRD11928370 img 10MLS #MRD11928370 img 11MLS #MRD11928370 img 12MLS #MRD11928370 img 13MLS #MRD11928370 img 14MLS #MRD11928370 img 15MLS #MRD11928370 img 16MLS #MRD11928370 img 17MLS #MRD11928370 img 18
A charming twelve-unit walk-up building situated in the Grand Crossing neighborhood on Chicago’s South Side. Nestled on a serene, tree-lined street, this property offers tenants the convenience of quick and easy access to downtown Chicago, with the I-94 Express just blocks away. 7257 S. Princeton boasts an exceptional unit mix, comprising solely of two and three-bedroom apartments. With six (6) 2b/1ba units and six (6) 3b/1ba units, the building provides spacious living spaces that have been meticulously maintained and protected by security cameras. The beautiful hardwood flooring is throughout each unit with gorgeous balconies, that provide residents with a private outdoor oasis where they can unwind, and enjoy the fresh air. Noteworthy recent improvements have been made to the property, including a newer boiler, updated hot water storage tanks, modernized copper plumbing, upgraded windows, and newly constructed porches that meet code requirements. These enhancements ensure that 7257 S. Princeton stands as a stable and robust investment, generating consistent cash flow. From day one, a new owner can expect a cap rate of 10.1% with the possibility to use an existing management company Taty Management. However, the true potential lies in the opportunity to increase rental income, since rent is below the market. By doing so, an investor can attain a remarkable cap rate exceeding 12.6%, along with an exceptional cash-on-cash yield. 7257 S. Princeton represents a rare chance to acquire a well-established income-generating asset in the Grand Crossing neighborhood of Chicago. With its strong tenant base and attractive financial prospects, this property offers a solid investment opportunity.

Property Details

Price:
$995,000
MLS #:
MRD11928370
Status:
Active Under Contract
Beds:
0
Baths:
0
Address:
7257 S Princeton Avenue
Type:
Commercial
City:
Chicago
Listed Date:
Nov 10, 2023
State:
IL
ZIP:
60621
Subdivision:
Lot Size:
Year Built:
1921

Schools

Interior

Exterior

Financial

Buyer Agent Compensation
2% – $425Net Sale Price
Net Operating Income
$101,382
Tax Year
2021
Taxes
$11,763
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Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.

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7257 S Princeton Avenue
Chicago, IL