Investment Overview

Marcus & Millichap is pleased to present 7415–7423 South Kimbark Avenue, a 31-unit multifamily asset located in Chicago’s South Shore neighborhood. This classic courtyard-style, yellow brick building offers a balanced unit mix of studios, one-bedroom, and two-bedroom apartments, and presents a compelling value-add opportunity through operational efficiencies and strategic upgrades. In 2009, the property at 7415 S Kimbark underwent a comprehensive gut renovation, modernizing the infrastructure and significantly enhancing the asset’s long-term durability. Upgrades included a 1,600-amp electrical service, copper wiring throughout, individual 100-amp in-unit panels, and five new steel porches. The building also received 100% new plumbing, a common area laundry room, and individual high-efficiency furnaces and water heaters in each unit. Additional improvements include new windows, replacement of structural lintels, extensive tuckpointing, a new roof, and complete interior refurbishments—featuring new drywall, modern trim, new doors, and updated flooring throughout. Since the renovation, ownership has continued to reinvest in the property through proactive maintenance and capital improvements. These include ongoing repairs to the roof, porches, tuckpointing, appliance replacements, and selective unit upgrades. South Shore is one of Chicago’s most active lakefront neighborhoods, poised for long-term growth due to substantial public and private investment. The forthcoming Obama Presidential Center, revitalization initiatives around Jackson Park, and redevelopment of the South Works site are catalyzing renewed interest from both tenants and developers. With it’s proximity to Lake Michigan, public transit, and major institutions like the University of Chicago, the property is well positioned to attract renters seeking value and accessibility within a vibrant community.