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7556-7558 S Eberhart Ave
Chicago, IL 60619
7156 S Rhodes Ave/ 7556 S Eberhart Ave · Multifamily Property For Sale
Investment Highlights
- Voucher-backed cash-flow portfolio
- Dense mix of locally-owned businesses, community organizations and historic bungalow-lined residential streets
- The portfolio sits on the 75th Street Renaissance Row corridor, proximate to the University of Chicago and the forthcoming Obama Presidential Center.
- In-place CHA-supported rents at the portfolio average $1,437 — in line with Greater Grand Crossing lease comps at $1,379
Executive Summary
A two-property, voucher-backed cash-flow portfolio in Greater Grand Crossing. 16 units across two 1925 Chicago brick buildings — 7156 S Rhodes Avenue and 7556 S Eberhart Avenue — with 13 × 2BR + 3 × 3BR across approximately 18,400 SF. 12 of 16 leases are voucher-backed (11 CHA + 1 AFCF) — government-backed cash flow that minimizes lease-up risk and supports reliable NOI.
Operations underwrite NOI from $139,912 to $156,840 as the two vacant units lease up and HUD Payment Standards trend upward at renewal. The portfolio sits on the 75th Street Renaissance Row corridor, proximate to the University of Chicago and the forthcoming Obama Presidential Center.
Operations underwrite NOI from $139,912 to $156,840 as the two vacant units lease up and HUD Payment Standards trend upward at renewal. The portfolio sits on the 75th Street Renaissance Row corridor, proximate to the University of Chicago and the forthcoming Obama Presidential Center.
Property Facts Under Contract
| Price / SF | $111.37 CAD / SF | Number of Properties | 2 |
| Cap Rate | 10.76% | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 16,441 SF |
| Status | Under Contract | Total Land Area | 0.29 AC |
| Price / SF | $111.37 CAD / SF |
| Cap Rate | 10.76% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 16,441 SF |
| Total Land Area | 0.29 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 7556-7558 S Eberhart Ave, Chicago, IL 60619 | Multifamily | 10,294 SF | 1935 | - |
| 7156 S Rhodes Ave, Chicago, IL 60619 | Multifamily | 6,147 SF | 1925 | - |
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