7270 S South Shore Dr

The Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago are pleased to present the multifamily property at 7270 S. South Shore Dr. This asset represents a compelling investment opportunity in a vibrant community. The subject property is a 53-unit multifamily elevator building with a rooftop venue located in the heart of Chicago’s tree-lined South Shore neighborhood. It is conveniently situated fifteen minutes from the Loop and one block from the Lakefront, offering easy access to Lake Shore Drive. The property underwent a comprehensive gut renovation in 2018 and provides excellent in-place cash flow with potential for value-add investors. The property sits on a 20,555 square foot parcel.

Freddie Mac Assumable Loan:

This property includes an assumable Freddie Mac loan, offering a loan assumption amount of $3,808,690 at a competitive interest rate of 3.12%, with a maturity date set for May 2027. This favorable financing structure enhances the property's investment appeal, reducing the need for new financing.

Fully Renovated: The property was fully renovated in 2018, featuring new plumbing, electric, and tear-off roofs. All mechanicals, including copper plumbing, hot water tanks, boiler, and sewer line to the city, are new.

Modern Amenities: The building includes stainless steel appliances, dishwashers, and new baths in all units.

On-Site Management: There is a dedicated on-site building manager.

Laundry Facilities: The building has ten credit card operable laundry machines.

Common Areas: The property includes ample on-site office and maintenance space, three common bathrooms, and a 3,800 square foot penthouse common area lounge with a roof deck offering breathtaking lake views.

Elevators: Two upgraded elevators (one passenger and one passenger/freight).

Electrical Capacity: The property has high capacity electrical service with room for two additional electrical meters (1600A building and 400A elevators).

Parking: There are 18 dedicated surface parking spots, with potential expansion up to 22 spots.

Tenant Utilities: All units are electric, with tenants responsible for baseboard heat.

Unit Mix:

- (9) Two-bedroom units

- (42) One-bedroom units

- (1) Studio units

- Rooftop Space

Investment Highlights:

Location: Situated in the desirable South Shore neighborhood of Chicago, close to the Loop and Lakefront.

Upside Potential: With the property’s strong in-place cash flow and modern infrastructure, there is significant potential for value-add opportunities.

On-Site Amenities: High-quality amenities and common areas enhance tenant satisfaction and retention.

Parking and Utilities: Sufficient parking and tenant responsibility for electric baseboard heating contribute to operational efficiency.

This multifamily property represents a robust investment opportunity with steady cash flow, potential for value addition, and a strategic location in one of Chicago’s prominent neighborhoods.