7322 South Kingston Avenue

• Legal 5 Unit
• All 1 Bed 1 Bath Units
• Individual Heat
• New Porch (2018)
• Value-Add
• Unit 2W Renovated in 2024

Property Description

Jameson Commercial Real Estate has been exclusively engaged to list and present 7322 S. Kingston, a legal 5-unit located in Chicago’s South Shore neighborhood. The property is just 2.5 blocks away from the “South Shore” stop, Metra Train line connecting Chicago to Indiana. It is also just a short distance from Lake Michigan, the South Shore Cultural Club, South Shore Beach, South Shore Golf Club, and Jackson Park Golf Course. The subject property comprises five spacious 1 bedroom 1 bath units. The units offer predominantly hardwood floors and standard finishes in the kitchen and bathrooms. The second-floor units have individual furnaces, while the first-floor units have baseboard hot water with individual boilers, resulting in tenants paying for their separate heat. The property has been maintained on a need-by-need basis, and the porches were replaced in 2018. The rents have not been raised since the property was purchased in 2016. 7322 S. Kingston presents a value-add opportunity to a qualified investor by updating the units with modern finishes and bringing the rents up to market. This has the potential to increase the existing CAP Rate to close to 10% and a CoC return of 17.19%.