$975,000
7363 S Coles Avenue
Chicago, IL, 60649
7363 S. Coles is an incredibly Beautiful (9) unit property located in Chicago’s South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes. 7363 S. Coles is currently comprised of nine (9) spacious 2b/1ba units. All units feature hardwood flooring throughout as well as updated tiling and fixtures in the bathroom. Furthermore, additional improvements to the building consist of but are not limited to, updated electric, an updated and newly coated roof, and laundry available to all tenants. Given the location and quality of the units, there is an incredibly large demand for apartments such as these. 7363 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of over 8.2%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.
Property Details
Price:
$975,000
MLS #:
MRD11986316
Status:
Active
Beds:
0
Baths:
0
Address:
7363 S Coles Avenue
Type:
Commercial
City:
Chicago
Listed Date:
Feb 21, 2024
State:
IL
ZIP:
60649
Year Built:
1923
Schools
Interior
Exterior
Financial
Buyer Agent Compensation
1.33% MINUS $350 FEE. SEE BROKER PRIVATE REMARKS*Net Sale Price
Tax Year
2022
Taxes
$10,490
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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Courtesy of Kiser Group Realty Inc. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Chicago, IL. Detailed information about real estate listings held by brokerage firms other than Compass / The Debra Dobbs Group include the name of the listing broker. Neither the listing company nor Compass / The Debra Dobbs Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Chicago, IL. All rights reserved.
7363 S Coles Avenue
Chicago, IL
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