7549-7555 S Kenwood Ave

Kiser Group is pleased to exclusively offer for purchase the sale of 7549 S. Kenwood, a pristine nineteen (19) unit walk-up tucked away in the Grand Crossing neighborhood of Chicago’s South Side. The building is located on an incredibly quiet and desirable tree lined corner and just down the street from, both, the 75th St Grand Crossing train stop along with the neighborhood Jewel Osco grocery store. Additionally, the building sits just off the Chicago Skyway connecting to the Dan Ryan, providing tenants easy and quick access to and from Chicago’s downtown.
7549 S. Kenwood has an incredibly desirable unit mix consisting of both one and two bedroom apartments. Currently, there are eleven (11) 1Bd/1Ba units and eight (8) 2Bd/1Ba units. All of which have unique layouts, boast hardwood flooring throughout, and have been tastefully renovated with updated kitchens and baths. Over the years, the building has had an abundance of structural improvements prolonging the buildings integrity. More recent capital improvements consist of, but not limited: an updated Smith central boiler system (2016), an update hot water heater and separate storage tank, newer and updated windows, newer lintels, an updated and code compliant exterior porch system along with masonry and tuckpointing throughout.
7549 S. Kenwood presents an investor with the opportunity to acquire a stabilized and strong cash flowing asset with tremendous upside. From day one, a new owner will realize an in-place cap rate of 9.1% as well as a cash return of nearly 15% at current market debt. Furthermore, given the size of the units and current market rents, there is a substantial ability to push rents significantly higher. Simply by stabilizing rents at levels already being achieved in the building will allow a new owner to see materially higher returns.