7800 S Coles Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
7800 S Coles Ave
11 Unit Apartment Building $1,089,000 ($99,000/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.
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 | $1,089,000 | Building Class | C |
| Price Per Unit | $99,000 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 11,500 SF |
| Cap Rate | 9.48% | Average Occupancy | 45% |
| No. Units | 11 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 0.87/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,089,000 |
| Price Per Unit | $99,000 |
| 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 |
1 of 1
PROPERTY TAXES
| Parcel Number | 21-30-410-010-0000 | Improvements Assessment | $44,105 |
| Land Assessment | $7,843 | Total Assessment | $51,948 |
PROPERTY TAXES
Parcel Number
21-30-410-010-0000
Land Assessment
$7,843
Improvements Assessment
$44,105
Total Assessment
$51,948
zoning
| Zoning Code | R4, Chicago (Single-Family Residential District) |
| R4, Chicago (Single-Family Residential District) |
-
Aaron Sklar -
Noah Birk -
Justin Turner -
Kiser Group
1 of 15
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
7800 S Coles Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.