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7648 S Phillips Ave
Chicago, IL 60649 South Shore

$2,350,000 USD

Apartments For Sale  •  27,693 SF

Property Details

  • Property Type Apartments
  • Total Building Size 24,898 SF
  • Lot Size 0.34 AC
  • Building Class C
  • Year Built 1925
  • Cap Rate 9.56 %
  • Zoning RT-4
70 Transit Score
77 Walk Score

Highlights

VALUE-ADD: Stabilized asset offering strong upside through significant rent growth potential with minimal capital outlay.
ATTRACTIVE BASIS: Offered at an appealing in-place cap rate (9.56%) and cash-on-cash return (16.08%), this asset is positioned well relative to rece
STRATEGIC LOCATION: Within walking distance to public transit (Metra Electric District), Rainbow Beach, South Shore Cultural Center, and several major
Cap Rate: 9.56 %

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Laundry Facilities
  • Tenant Controlled HVAC
  • Heating
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Walk-Up
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Windsor Park Station (Metra Electric Line - Northeast Illinois Regional Commuter Railroad (Metra)) 2 min 10 min 0.6 mi
Cheltenham Station (Metra Electric Line - Northeast Illinois Regional Commuter Railroad (Metra)) 2 min 13 min 0.7 mi
AirportDriveWalkDistance
Chicago Midway International 24 min - 12.2 mi
Chicago O'Hare International 45 min - 28.3 mi
Kyle Stengle 312-327-5455 Marcus & Millichap
Kyle Stengle 312-327-5455 Marcus & Millichap