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7150-52 S Cornell Ave 12 Unit Apartment Building $1,122,264 CAD ($93,522 CAD/Unit) Chicago, IL 60649
Investment Highlights
- Desirable Unit Mix: (6) Studios & (6) 1 BD Units
- New tear of roof/hot water tank (2022). Upgraded electric service
- Updated common areas
- Updated kitchens and baths with gas forced air furnaces throughout
- Ability to build out (3) additional garden units
- Pridefully maintained by long term ownership group
Executive Summary
Interra Realty has been exclusively engaged to present for sale 7150-52 S. Cornell Ave. Located in Chicago's historic South Shore neighborhood, the subject property contains 12 apartment units featuring (6) Studios and (6) 1 BD/1 BA unit layouts. The units feature spacious layouts and have been been renovated with updated kitchens and baths. There are gas forced air furnaces in every unit.
Current ownership has pridefully maintained the building and made significant Cap-Ex upgrades including a new tear off roof and hot water tank in 2022. The property also features upgraded electric service.
A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market upon tenant turnover. There is also infrastructure in place for the buildout of (2) additional garden apartments.
Current ownership has pridefully maintained the building and made significant Cap-Ex upgrades including a new tear off roof and hot water tank in 2022. The property also features upgraded electric service.
A qualified investor has the opportunity to acquire a turn key, well managed, stabilized asset in one of Chicago's fastest appreciating submarkets with the ability to continue to increase rents to the top of the market upon tenant turnover. There is also infrastructure in place for the buildout of (2) additional garden apartments.
Property Facts
| Price | $1,122,264 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $93,522 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| No. Units | 12 | Building Size | 8,169 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1926 |
| Zoning | RT-4 - Residential | ||
| Price | $1,122,264 CAD |
| Price Per Unit | $93,522 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 8,169 SF |
| No. Stories | 4 |
| Year Built | 1926 |
| Zoning | RT-4 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 550 |
| 1+1 | 6 | - | 536 - 670 |
1 1
Walk Score®
Very Walkable (88)
Property Taxes
| Parcel Number | 20-25-100-026-0000 | Improvements Assessment | $96,027 CAD |
| Land Assessment | $8,888 CAD | Total Assessment | $104,915 CAD |
Property Taxes
Parcel Number
20-25-100-026-0000
Land Assessment
$8,888 CAD
Improvements Assessment
$96,027 CAD
Total Assessment
$104,915 CAD
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7150-52 S Cornell Ave
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