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7800 S Coles Ave

11 Unit Apartment Building $1,529,697 CAD ($139,063 CAD/Unit) 9.48% Cap Rate Chicago, IL 60649

Executive Summary

Kiser Group is pleased to exclusively present for purchase 7800 S. Coles a beautiful eleven (11) California-style building located in Chicago's historic South Shore Neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes.
7800 S. Coles is comprised of five (5) 1b/1ba and six (6) 2bd/1ba. The units all feature hardwood flooring throughout and updated LVP flooring where necessary. Furthermore, additional improvements to the building consist of but are not limited to, in-unit HVAC, all copper plumbing, an updated roof, laundry access for tenants, and a paved parking lot in the rear.
7800 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 9.48%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.

Property Facts Under Contract

Price $1,529,697 CAD
Price Per Unit $139,063 CAD
Sale Type Investment
Cap Rate 9.48%
No. Units 11
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.20 AC
Building Size 11,500 SF
Average Occupancy 45%
No. Stories 3
Year Built 1962
Parking Ratio 0.87/1,000 SF

Unit Amenities

  • Air Conditioning
  • Balcony
  • Eat-in Kitchen
  • Hardwood Floors
  • Refrigerator
  • Range

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 5 - 750
2+1 6 - 850

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
21-30-410-010-0000
Land Assessment
$15,320 CAD
Improvements Assessment
$94,943 CAD
Total Assessment
$110,263 CAD

zoning

Zoning Code R4, Chicago (Single-Family Residential District)
R4, Chicago (Single-Family Residential District)
  • Listing ID: 31074025

  • Date on Market: 2024-02-28

  • Last Updated:

  • Address: 7800 S Coles Ave, Chicago, IL 60649

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