Listing Summary
Explore 7270 S. South Shore Dr, a fully gut-renovated 53-unit multifamily elevator building in Chicago's vibrant South Shore neighborhood. Delivering an impressive 8.31%+ cap rate, this turnkey asset features modern unit interiors, a stunning 3,800 SF penthouse lounge with a rooftop deck overlooking the lake, dedicated parking, and strong in-place cash flow just minutes from the Loop and Lakefront.
Full Description
Capitalize on high-yield real estate with 7270 S. South Shore Dr, a premier 53-unit multifamily investment property located in the heart of Chicago’s tree-lined South Shore community. Positioned just one block from the Lakefront and fifteen minutes from the Loop with direct access to Lake Shore Drive, this asset combines exceptional location advantages with a proven financial performance targeting an 8.31%+ cap rate.
Comprehensive 2018 Gut Renovation & Modern Infrastructure
The property underwent a complete structural and mechanical overhaul in 2018, ensuring low ongoing maintenance and maximum operational efficiency:
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New Mechanicals: Brand-new copper plumbing, upgraded electrical systems, hot water tanks, boilers, and an upgraded city sewer line connection.
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Building Envelope: Features a brand-new tear-off roof and dual upgraded elevators (one passenger and one freight/passenger combination).
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Electrical Capacity: High-capacity 1600A building service and 400A elevator service, including infrastructure for two additional meters.
Exceptional Tenant Amenities & Unit Mix
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Modern Units: Fully appointed with stainless steel appliances, dishwashers, and contemporary bathrooms across a balanced layout featuring 9 two-bedroom units, 42 one-bedroom units, and 1 studio.
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Penthouse & Roof Deck: An exclusive 3,800-square-foot penthouse common area lounge featuring a expansive roof deck with breathtaking, unobstructed lake views.
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On-Site Conveniences: Includes 10 credit-card-operable laundry machines, dedicated on-site office/maintenance space, and three common-area bathrooms.
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Parking & Utilities: 18 dedicated surface parking spaces with expansion potential up to 22 stalls. Tenants enjoy independent control over electric baseboard heating, streamlining building expense management.
Whether you are seeking stable, high-yield cash flow or long-term value appreciation in a prominent Chicago submarket, this turnkey multifamily property delivers unmatched asset quality and performance.
Quick Glance
- Listing ID:
CL-Illinois-28377
- Status:
Active
- Year Build:
1970
- Building Size:
40,000 SqFt
- Lot Size:
20,521.00 SqFt
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