Log In/Sign Up
Your email has been sent.
First-Lien South Shore Apt Note Sale Online Auction Sale Chicago, IL 60649
Investment Highlights
- First-lien note sale on a 31-unit South Shore apartment building, offering control through a secured position and payment default scenario.
- Attractive 4.33% interest rate on the original loan term with 136 months remaining, creating long-term note income potential.
- Value-add upside through rent growth, operational improvements, and potential one-bedroom conversions targeting double-digit returns.
- Positioned in Chicago's resurging South Shore, just blocks from the commercial corridor and walking distance to Rainbow Beach.
- Balanced unit mix of 15 large one-bedrooms and 16 spacious two-bedrooms supports broad tenant demand and leasing appeal.
Executive Summary
As the trusted advisor, Colliers presents the note sale of the multifamily investment opportunity at 7549 South Kingston Avenue in Chicago, Illinois.
7549 South Kingston Avenue is nestled in Chicago’s historic South Shore neighborhood. The building comprises 31 apartments and is located on a quiet, tree-lined street. Over the past year, South Shore has seen a resurgence in new developments due to its proximity to Lake Michigan and Chicago’s downtown. Conveniently, the building sits just 3 blocks from the neighborhood’s commercial corridor and is within walking distance of Rainbow Beach.
7549 South Kingston Avenue has a desirable unit composition comprising nearly half one-bedroom and half two-bedroom apartments. Currently, the building consists of 15 sizeable one-bed/one-bath units, all of which have both living and separate dining rooms. Additionally, the remaining 16 units are spacious two-bed/one-bath units. Additional improvements to the building consist of, but are not limited to, an updated high-efficiency central boiler and hot water tanks, newer windows, and a 600-amp electrical service. The building is prime for a new investor to capitalize on the strong, appreciating neighborhood.
7549 South Kingston Avenue offers an investor an incredible opportunity to acquire a true value-add property in one of Chicago’s most desirable neighborhoods. Seize the opportunity to acquire a high-yield first-lien note secured by a value-add multifamily property in Chicago's resurgent South Shore neighborhood.
Property tours are by appointment only. Please contact the listing broker to schedule.
7549 South Kingston Avenue is nestled in Chicago’s historic South Shore neighborhood. The building comprises 31 apartments and is located on a quiet, tree-lined street. Over the past year, South Shore has seen a resurgence in new developments due to its proximity to Lake Michigan and Chicago’s downtown. Conveniently, the building sits just 3 blocks from the neighborhood’s commercial corridor and is within walking distance of Rainbow Beach.
7549 South Kingston Avenue has a desirable unit composition comprising nearly half one-bedroom and half two-bedroom apartments. Currently, the building consists of 15 sizeable one-bed/one-bath units, all of which have both living and separate dining rooms. Additionally, the remaining 16 units are spacious two-bed/one-bath units. Additional improvements to the building consist of, but are not limited to, an updated high-efficiency central boiler and hot water tanks, newer windows, and a 600-amp electrical service. The building is prime for a new investor to capitalize on the strong, appreciating neighborhood.
7549 South Kingston Avenue offers an investor an incredible opportunity to acquire a true value-add property in one of Chicago’s most desirable neighborhoods. Seize the opportunity to acquire a high-yield first-lien note secured by a value-add multifamily property in Chicago's resurgent South Shore neighborhood.
Property tours are by appointment only. Please contact the listing broker to schedule.
Loan Details
Loan Status
Lien Position
Outstanding Balance
Original Balance
Origination Date
Maturity Date
Loan Status
Lien Position
Outstanding Balance
Original Balance
Origination Date
Maturity Date
Original Term
Remaining Term
Interest Rate
Rate Type
Non-Recourse
Cross-Collateralized
90+ Days Delinquent
First
$938,357
$988,000
12-14-2017
1-1-2038
90+ Days Delinquent
First
$938,357
$988,000
12-14-2017
1-1-2038
240 Months
136 Months
4.33%
Variable
No
No
Original Term
Remaining Term
Interest Rate
Rate Type
Non-Recourse
Cross-Collateralized
240 Months
136 Months
4.33%
Variable
No
No
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Condition | Auction Sale | Lot Size | 0.35 AC |
| Type of Ownership | Fee Simple | Building Size | 25,500 SF |
| No. Units | 31 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | APN / Parcel ID | 21-30-303-008-0000 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RT-4, Chicago - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 25,500 SF |
| No. Stories | 3 |
| Year Built | 1923 |
| APN / Parcel ID | 21-30-303-008-0000 |
| Opportunity Zone |
Yes |
| Zoning | RT-4, Chicago - Residential Two-Flat, Townhouse and Multi-Unit District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
Moderately walkable
70/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
Sale Advisors
Sale Advisors
Tyler Hague, Executive Vice President
With more than 18 years of experience in commercial real estate and based in Chicago, Tyler leads a team of brokers who specializes in the acquisition and disposition of multifamily investment properties throughout Chicago and secondary markets. Institutional, corporate and private owners rely on his expertise to originate, underwrite, structure and execute commercial investment sales and capital markets transactions. Tyler is experienced in the initiation and management of acquisition and disposition programs for all commercial property types and is particularly noted for his expertise in multifamily investment sales and urban land development as well as adaptive reuse redevelopment throughout the Chicago Metro area and greater Midwest.
Tyler has underwritten and analyzed more than $20 billion in potential acquisition or disposition properties, consisting of 85,000+ apartment units and more than 15 million square feet throughout Chicago and the greater Midwest.
Since December of 2021, his team has executed more than $4.5 billion worth of multifamily investment sales transactions across 15 states and consisting of over 18,500 apartment units throughout the Midwest and Southeast.
Tyler has executed more than $8 billion worth of apartment sales consisting of over 40,000 apartment units in his career.
Tyler has underwritten and analyzed more than $20 billion in potential acquisition or disposition properties, consisting of 85,000+ apartment units and more than 15 million square feet throughout Chicago and the greater Midwest.
Since December of 2021, his team has executed more than $4.5 billion worth of multifamily investment sales transactions across 15 states and consisting of over 18,500 apartment units throughout the Midwest and Southeast.
Tyler has executed more than $8 billion worth of apartment sales consisting of over 40,000 apartment units in his career.
Lauren Stoliar, Associate VP, National Multifamily Advisory
Lauren is an associate with Colliers | Chicago’s Multifamily Advisory group, supporting Vice President Tyler Hague in efforts to originate, underwrite, structure, and execute commercial investment sales and capital market transactions for institutional, corporate, and private owners of commercial multifamily real estate throughout the Midwest. Lauren specializes in middle-market transactions, focusing primarily on business development for the group. Prior to joining, she was an associate broker with @Properties, offering clients a comprehensive suite of services to assist in both purchase and sale. Lauren graduated from Tulane University with a Bachelor of Science in Management in Finance with a Minor in Legal Studies in Business. While in school, she was a property intern with the Net Leased/National Office and Industrial Properties Group of Marcus & Millichap as well as a finance intern with Connect International, LLC.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
Auction Contact
Victoria Quade
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
1 of 14
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
Presented by
First-Lien South Shore Apt Note Sale
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Presented by
First-Lien South Shore Apt Note Sale
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.