Investment Overview

Marcus & Millichap is pleased to present this multifamily opportunity located in the South Shore neighborhood of Chicago, Illinois. The subject property consists of 37 one-bedroom apartments and the property features on-site laundry, recently updated high-efficiency central boiler and hot water tanks. There is also ample off-street parking available for tenants. Given the high vacancy, the subject property allows for significant value-add potential. The subject property is just a seven-minute walk to Metra’s South Shore train stop along with Metra’s Windsor Park train stop, and a four-minute walk to Chicago Transit Authority’s (CTA) 71 bus stop. 7331-39 South Coles Avenue is also within a 10-minute walk of Rainbow Beach and the Lakefront. South Shore Beach and Nature Sanctuary are also within walking distance of the subject property. The South Shore neighborhood boasts many great characteristics, making it a highly desired neighborhood in the South Side of Chicago. It is home to a pristine stretch of lake front that includes multiple beaches. Rainbow Beach Park is the most notable, as it is one of the largest beaches in the city. It features two playgrounds, a community garden, and has been a staple on Lake Michigan since the early 1900s. Additionally, the South Shore cultural center is another highly attractive location featuring a butterfly garden, a nature sanctuary, a nine-hole golf course, a theatre, and was the site of Barack and Michelle Obama’s wedding reception. The South Shore has plenty of CTA and Metra options, making it an easy commute to Downtown Chicago.