7337 S South Shore Dr
Chicago, IL 60649
31 Unit Portfolio on 7337 S South Drive · Multifamily Property For Sale

Introducing a prime investment opportunity at 7337 South South Shore Drive, Chicago, IL, 60649. This prestigious 329,630 SF high-rise, built in 1962, offers 31 units, presenting a 52% occupancy rate with significant potential for growth. Boasting a multitude of amenities, including a gym, spa, playground, storage, and on-site laundry, this condo portfolio in the South Shore neighborhood combines lakefront views with proximity to the South Shore Cultural Center & Beach. With 18 units currently rented and 12 units primed for minor renovations, seize the opportunity for a lucrative investment in this amenity-rich property. The actual cap rate is 3.56%, but with 5 additional units rented, the cap rate would soar to 7.28%, making this a compelling opportunity for savvy investors. Once fully stabilized this is a 13.22% cap rate!!