7109 S Bennett Ave 68 Unit Apartment Building $8,748,416 CAD ($128,653 CAD/Unit) 13.19% Cap Rate Chicago, IL 60649

Kiser Group is pleased to exclusively present for purchase 7109 S. Merrill, a sixty-eight (68) unit apartment building in Chicago’s South Shore neighborhood. Located in one of the South Side’s most dynamic and evolving pockets just seven (7) miles south of downtown Chicago, the property sits blocks away from Lake Michigan and the South Shore Cultural Center, and is in close proximity to Jackson Park—home to the future Obama Presidential Library and the renowned Jackson Park Golf Course.
7109 S. Merrill is comprised of nine (9) 3Bd/2Ba, fifty-two (52) 2Bd/1Ba, and seven (7) 1Bd/1Ba units. The property is approximately 60% complete, with a majority of units either rent-ready or currently occupied. An additional 30% of units require moderate renovations, including flooring, furnaces, kitchens, and bathrooms, while roughly 10% of the units require full rehabilitation. The building also requires the installation of two (2) rear porches and significant improvements to two (2) common areas. Recent capital improvements include brand new electrical service, new hot water tanks, newly constructed porches, and
individual furnaces throughout.
7109 S. Merrill presents an investor with the opportunity to complete a partially renovated asset in one of Chicago’s most active and appreciating lakefront neighborhoods. The South Shore area has experienced substantial growth in recent years, fueled by ongoing development and investment in the surrounding community. With its proximity to Jackson Park, Lake Michigan, and the Obama Presidential Center, the property is well-positioned to benefit from continued demand and long-term appreciation.