7700 S Saginaw Ave 12 Unit Apartment Building $1,723,961 CAD ($143,663 CAD/Unit) 10.03% Cap Rate Chicago, IL 60649

Kiser Group is pleased to exclusively present for purchase 7700 S. Saginaw, a unique and turnkey twelve (12) unit apartment building in Chicago's historic and booming South Shore neighborhood. Over the past year, South Shore has seen a resurgence in new developments due to its proximity to Lake Michigan, as well as Chicago’s downtown, most notably with the construction of the Obama Presidential Library. Furthermore, the building sits just two blocks away from the Metra Train Station and walking distance to South Shore’s Rainbow Beach.

7700 S. Saginaw is solely comprised of twelve (12) spacious 2Bd/1Ba units. All twelve (12) units have been renovated with newer hardwood floors, newer bathrooms and kitchens, and individual furnace/hot water tanks. Furthermore, each unit boasts nearly 1,200 square feet of living space and consists of, both, a formal living and dining room, as well as a sunroom adjacent to the living room creating an even larger open living space. Additional improvements to the building include, but are not limited to, an exterior porch system (2017), newer window lintels (2018), new windows, tuckpointing, as well as an abundance masonry work.
7700 S. Saginaw presents an opportunity for an investor to acquire a stabilized, cash-flowing asset. From day one, Saginaw's next owner will realize an in-place cap rate above 10% along with a 18.63% cash return. Given the sheer size and quality of the units coupled with its location, solely by stabilizing the building's rent roll and bringing current rents to rates alreadly being achieved in the building, there is an opportunity to achieve a 10.44% cap rate