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7716-7718 S East End Ave
Chicago, IL 60649
Multifamily Property For Sale
·
16 Units
Investment Highlights
- Efficient Unit Mix - Spacious 1-bedroom units.
- Below-Market Rents - Significant upside potential by bringing rents to market levels.
- Near the Lakefront - Desirable location with solid long-term renter demand.
- Value-Add Opportunity - Clear path to increase revenue through improved management, leasing, and unit renovations.
- Laundry Facilities On-Site.
Executive Summary
Essex Realty Group, LLC has been exclusively engaged to market for sale a 16-unit multifamily property located at 7716–18 S. East End Avenue in Chicago’s South Shore neighborhood. The offering consists of a well-maintained walk-up building comprised entirely of spacious one-bedroom units, providing an efficient and highly leasable unit mix. This investment presents a clear and executable value-add opportunity to significantly increase revenue through improved management and leasing, along with strategic unit renovations to capture market rents. Approximately one-third of the units have already received cosmetic upgrades, allowing a new owner to continue a proven renovation program and drive rental growth across the remaining units. In addition to strong in-place income, the property benefits from an on-site laundry facility, offering additional revenue potential and enhanced tenant appeal. With below-market rents, a straightforward operational upside, and a desirable location near the lakefront, this asset offers investors the opportunity to quickly unlock value and generate meaningful returns in one of Chicago’s most established and accessible neighborhoods.
Property Facts
| Price Per Unit | $102,502 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.17% | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 5.49 | Building Size | 10,400 SF |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1929 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-4, | ||
| Price Per Unit | $102,502 CAD |
| Sale Type | Investment |
| Cap Rate | 8.17% |
| Gross Rent Multiplier | 5.49 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 10,400 SF |
| No. Stories | 4 |
| Year Built | 1929 |
| Opportunity Zone |
Yes |
| Zoning | R-4, |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 650 |
Property Taxes
| Parcel Number | 20-25-317-024-0000 | Improvements Assessment | $101,559 CAD |
| Land Assessment | $11,470 CAD | Total Assessment | $113,029 CAD |
Property Taxes
Parcel Number
20-25-317-024-0000
Land Assessment
$11,470 CAD
Improvements Assessment
$101,559 CAD
Total Assessment
$113,029 CAD
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