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7733 S South Shore Dr 65 Unit Apartment Building For Sale 8% Cap Rate Chicago, IL 60649
Investment Highlights
- Strong In-Place Occupancy and Attractive Yield Profile – 8%+ Cap
- Transformational Investment Projects in the Quantum Shore Development and Obama Presidential Library
- Significant Recent Capital Improvements with Renovated Unit Base
- Attractive Tax Abatements Through Affordable Housing Special Assessment Program
- Attractive Demographics and Affordability Advantage
- Compelling Value-Add Opportunities Across Both Assets
Executive Summary
MMG Real Estate Advisors is pleased to present the South Shore Portfolio, a 117-unit, two-asset multifamily investment opportunity located in Chicago’s historic South Shore neighborhood. 7733 S South Dr can be purchased with 7270 S Shore Dr, or individually. Positioned just one block from the beaches of Lake Michigan and less than 15 minutes from Chicago’s central business district, the properties benefit from immediate lakefront access, strong transit connectivity, and proximity to some of the city’s most powerful long-term demand drivers. Immediately south of Hyde Park and the University of Chicago, the portfolio is uniquely positioned to capture sustained renter demand fueled by higher education, healthcare, and two of the most transformational development projects underway in Chicago: The Quantum Shore Chicago Site and the Obama Presidential Library. Combined with recent capital improvements, extremely attractive in-place yields, and clear value-add pathways, the South Shore Portfolio offers a compelling opportunity to acquire scale in a supply constrained submarket with significant economic momentum.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 8% | Building Size | 50,500 SF |
| No. Units | 65 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1971/2018 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.75/1,000 SF |
| Building Class | C | ||
| Zoning | 10 | ||
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 65 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 50,500 SF |
| Average Occupancy | 94% |
| No. Stories | 5 |
| Year Built/Renovated | 1971/2018 |
| Parking Ratio | 0.75/1,000 SF |
| Zoning | 10 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Recycling
- Walking/Biking Trails
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 15 | $1,662 CAD | 600 |
| 1+1 | 34 | $1,905 CAD | 750 |
| 2+1.5 | 8 | $2,318 CAD | 1,000 |
| 2+2 | 2 | $2,389 CAD | 1,000 |
| 3+2 | 6 | $2,542 CAD | 1,000 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 21-30-413-019-0000 | Improvements Assessment | $256,504 CAD (2025) |
| Land Assessment | $22,258 CAD (2025) | Total Assessment | $278,763 CAD (2025) |
Property Taxes
Parcel Number
21-30-413-019-0000
Land Assessment
$22,258 CAD (2025)
Improvements Assessment
$256,504 CAD (2025)
Total Assessment
$278,763 CAD (2025)
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7733 S South Shore Dr
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