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7400 S Phillips Ave 15 Unit Apartment Building $1,354,470 CAD ($90,298 CAD/Unit) 9.68% Cap Rate Chicago, IL 60649
Investment Highlights
- 15 units: 8 two-bedroom/one-bathroom, 3 three-bedroom/onebathroom, 4 four-bedroom/two-bathroom
- Premium corner building location
- Favorable unit mix enables strategic rent increases
- Strong cash flow with immediate income
- In-unit washer and dryer connections
- Benefits from South Shore's ongoing revitalization
Executive Summary
7400 S Phillips Avenue presents a prime 15-unit multifamily opportunity in Chicago’s South Shore neighborhood, offering an attractive unit mix and strong in-place income. The building features 4 spacious 4-bed/2-bath units, 3 large 3-bed/1-bath units, and 8 well-appointed 2-bed/1-bath apartments, catering to families and working professionals seeking quality housing near the lakefront and public transit.
The property is supported by individually metered utilities, with each unit equipped with its own furnace, water heater, and electrical panel, along with major mechanical improvements and copper plumbing throughout. With three additional units roughed-in and permits in place, the asset offers clear upside through completion and rent growth
The property is supported by individually metered utilities, with each unit equipped with its own furnace, water heater, and electrical panel, along with major mechanical improvements and copper plumbing throughout. With three additional units roughed-in and permits in place, the asset offers clear upside through completion and rent growth
Property Facts
| Price | $1,354,470 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $90,298 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 9.68% | Building Size | 17,616 SF |
| No. Units | 15 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | 10 | ||
| Price | $1,354,470 CAD |
| Price Per Unit | $90,298 CAD |
| Sale Type | Investment |
| Cap Rate | 9.68% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 17,616 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | 10 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,806 CAD | - |
| 3+2 | 3 | $2,223 CAD | - |
| 4+2 | 4 | $2,639 CAD | - |
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 21-30-115-013-0000 | Improvements Assessment | $81,663 CAD |
| Land Assessment | $17,554 CAD | Total Assessment | $99,217 CAD |
Property Taxes
Parcel Number
21-30-115-013-0000
Land Assessment
$17,554 CAD
Improvements Assessment
$81,663 CAD
Total Assessment
$99,217 CAD
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7400 S Phillips Ave
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