7648 S Phillips Ave 31 Unit Block of Flats £1,826,995 (£58,935/Unit) Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- Professional Offering Memorandum Available Upon Request
- 18 Subsidy Tenants
- Laundry Facilities On-Site
- Great In-Place Rents: Investor to Receive 10.6% Cap Returns on Day One
- Unit Mix of Studio, One, Two, and Three Bedroom Units
- Close Proximity to The Obama Presidential Library and Proposed Quantum Computing Campus
EXECUTIVE SUMMARY
Essex Realty Group. Inc. has been exclusively engaged to market for sale 7648 S Phillips Ave, a 31-unit multifamily property in Chicago's South Shore neighborhood.
PROPERTY FACTS
| Price | £1,826,995 |
| Price Per Unit | £58,935 |
| Sale Type | Investment |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 18,750 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Fridge
- Cooker
- Bath/Shower
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 700 |
| 1+1 | 13 | - | 800 |
| 2+1 | 9 | - | 900 |
| 2+2 | 3 | - | 950 |
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PROPERTY TAXES
| Parcel Number | 21-30-307-022-0000 | Improvements Assessment | £156,300 |
| Land Assessment | £13,742 | Total Assessment | £170,042 |
