7337 South South Shore Drive
- 329,630 SF high-rise built in 1962
- 31 units with 52% occupancy rate
- 18 units currently rented
- 12 units ready for minor renovations
- Amenity-rich: gym, spa, playground, storage
- On-site laundry and refuse chute on each floor
- Lakefront views
- Proximity to South Shore Cultural Center & Beach
- Easy access to Metra Electric Line
- Convenient access to Lake Shore Drive and Downtown Chicago
Property Description
Introducing a prime investment opportunity at 7337 South South Shore Drive, Chicago, IL, 60649. This prestigious 329,630 SF high-rise, built in 1962, offers 31 units, presenting a 52% occupancy rate with significant potential for growth. Boasting a multitude of amenities, including a gym, spa, playground, storage, and on-site laundry, this condo portfolio in the South Shore neighborhood combines lakefront views with proximity to the South Shore Cultural Center & Beach. With 18 units currently rented and 12 units primed for minor renovations, seize the opportunity for a lucrative investment in this amenity-rich property. The actual cap rate is 3%, but with 7 additional units rented, the cap rate would soar to 7.45%, making this a compelling opportunity for savvy investors.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,250,000 |
| No. of Units: | 31 |
| Year Built: | 1962 |
| Lot Size: | 2.50 Acres |
| Opportunity Zone: | No |
| Price per unit: | $72,581 |
| Property Website | Click Here |
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