7200-02 S Stony Island Ave 24 Unit Apartment Building $4,606,536 CAD ($191,939 CAD/Unit) 5.58% Cap Rate Chicago, IL 60649

Triton is pleased to present 7200–02 S. Stony Island Avenue, a 24-unit multifamily investment opportunity located in the rapidly appreciating South Shore neighborhood of Chicago. This stately brick walk-up offers a highly desirable unit mix of twelve (12) spacious 2 bed / 1 bath and twelve (12) 1 bed / 1 bath apartments. The property has been meticulously maintained with significant capital improvements, blending modern upgrades with timeless vintage character.
Each unit features expansive floor plans, large living rooms, generous bedroom sizes, and abundant natural light. Interior renovations include condo-quality finishes such as stainless steel appliances, in-unit laundry, updated kitchens and baths, and beautifully refinished hardwood flooring. All apartments are equipped with individual HVAC and hot water tanks, reducing owner operating costs. Building-level improvements include updated electrical and plumbing systems, a newer steel rear porch, extensive masonry and tuckpointing work, freshly painted exterior, keyless entry and intercom system installed, new wrought iron gate, security cameras, new doors throughout, and freshly updated interior hallways.
South Shore continues to benefit from transformative public and private investment, including the nearby Obama Presidential Center and major infrastructure upgrades. Since ownership acquired the property, beyond the capital improvements, they have increased the gross rent amount by 23% . 7200–02 S. Stony Island offers investors the chance to acquire a stabilized, cash- flowing asset in current condition. A new owner can unlock slight rent increases and achieve an 7.42% cap rate, allowing for a significant cash-on-cash return for many years to come.