FOR SALE
$380,000

7322 S Kingston Avenue
Chicago, IL 60649

Multi-Family, Business Opportunities
Commercial
3,869
Sq. Ft.
0.117
Acre Lot
Courtesy: Jameson Commercial
CB Today> Illinois> Chicago> 60649
7322 S. Kingston, a legal 5-unit located in Chicago's South Shore neighborhood. 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 all 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 rent has 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 over 8.5% and a CoC return of 11%. *Note* The pictures show a vacant unit renovated in early 2024. It has remained vacant for showing purposes. This is to give the buyer a vision of what the other units can look like. The other units have not been renovated to this caliber. The Offering Memorandum is available upon request. Please email or call listing agent.
12016667
Commercial - Multi-Family, Business Opportunities, 2 Story
1958
Cook
0.117 Acres
2
Brick
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The scores below measure the walkability of the address, access to public transit of the area and the convenience of using a bike on a scale of 1-100

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Courtesy: Jameson Commercial
Listings courtesy of MRED as distributed by MLS GRID

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