Multifamily
7648-7658 South Phillips Avenue
7648 S Phillips Ave, Chicago, IL 60649
Listing Price: $2,400,000
Investment Overview
Marcus & Millichap is pleased to present 7648-7658 South Phillips Avenue, a 31-unit multifamily property located in Chicago’s South Shore neighborhood. This courtyard brick building offers a well-balanced unit mix of studios, one- and two-bedroom apartments with significant value- add potential through light renovations and operational efficiencies.
South Shore is one of Chicago’s most active lakefront neighborhoods, poised for long-term growth with significant public and private investment. Anchored by the Obama Presidential Center and major revitalization efforts around Jackson Park and the South Works site, the area is seeing renewed interest from tenants and developers alike. Its proximity to the lakefront, public transportation, and institutions like the University of Chicago make it a natural choice for renters seeking value and connectivity.
7648-7658 South Phillips Avenue
Investment Highlights
- VALUE-ADD: Stabilized asset offering strong upside through significant rent growth potential with minimal capital outlay
- ATTRACTIVE BASIS: Offered at an appealing in- place cap rate (9.49%) and cash-on-cash return (15.81%), this asset is positioned well relative to recent South Shore transactions
- STRATEGIC LOCATION: Within walking distance to public transit (Metra Electric District), Rainbow Beach, South Shore Cultural Center, and several major redevelopment projects
Exclusively Listed By
Listing Price: $2,400,000
Investment Highlights
- VALUE-ADD: Stabilized asset offering strong upside through significant rent growth potential with minimal capital outlay
- ATTRACTIVE BASIS: Offered at an appealing in- place cap rate (9.49%) and cash-on-cash return (15.81%), this asset is positioned well relative to recent South Shore transactions
- STRATEGIC LOCATION: Within walking distance to public transit (Metra Electric District), Rainbow Beach, South Shore Cultural Center, and several major redevelopment projects
Investment Overview
Marcus & Millichap is pleased to present 7648-7658 South Phillips Avenue, a 31-unit multifamily property located in Chicago’s South Shore neighborhood. This courtyard brick building offers a well-balanced unit mix of studios, one- and two-bedroom apartments with significant value- add potential through light renovations and operational efficiencies. South Shore is one of Chicago’s most active lakefront neighborhoods, poised for long-term growth with significant public and private investment. Anchored by the Obama Presidential Center and major revitalization efforts around Jackson Park and the South Works site, the area is seeing renewed interest from tenants and developers alike. Its proximity to the lakefront, public transportation, and institutions like the University of Chicago make it a natural choice for renters seeking value and connectivity.
Exclusively Listed By
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