Investment Overview

Marcus & Millichap is pleased to present this mixed-use opportunity in the South Shore neighborhood of Chicago, Illinois. The subject property consists of 15 Two-Bedroom/One-Bath units, 10 One-Bedroom/One-Bath units, Two Studios, and Seven Commercial spaces all occupied by three tenants. 16 of the apartments were gut renovated in the last 6 months and feature brand new stainless steel appliances, quartz countertops and updated bathroom vanities. The remaining 11 apartments are partially updated and feature granite counters, white appliances with oak cabinets, and older bathroom finishes. The asset is ideally located along a major retail corridor within blocks of Lake Michigan, numerous restaurants and stores, and multiple transit routes. Chicago Transit Authority (CTA) 79 bus stop is located directly next to the property, and the Cheltenham/79th Street Metra train stop is a 13-minute walk. Lake Michigan and Rainbow Beach Park are less than one mile from the building. Over the last few years, the booming South Shore neighborhood has been in high demand for developers, investors, and renters alike. The area has experienced strong appreciation due to its proximity to Lake Michigan, Hyde Park, The University of Chicago, the Obama Presidential Library and countless other attractions. There are also numerous CTA bus routes and Metra stops located throughout the neighborhood, making for easy an easy commute to and from downtown Chicago.