3 Building, 83 Unit South Shore Portfolio

Property Overview

7048-50 S. Merrill Ave.

Interra Realty has been exclusively engaged to market for sale 7048-50 S. Merrill Ave. The subject property is a 42 unit, corridor style mid-rise elevator building located in the Jackson Park section of Chicago’s South Shore neighborhood. The building contains a combination of spacious studio and one bedroom apartments, some of which have received new in unit improvements.

Other recent improvements include a façade restoration and repaired rear fire escapes. Tenant amenities include an on site gated parking lot in addition to a common laundry room on the ground floor. The building has been meticulously maintained and is professionally managed, presenting a new owner with the ability to acquire a stabilized and well occupied asset. In addition, there is a value-add opportunity via continued unit modernization in order to achieve proven higher rent levels.

7337 S. Ridgeland Ave.

Interra Realty has been exclusively engaged to market for sale 7337 S. Ridgeland Ave. The subject property is a 25-unit corner walk-up apartment building located in Chicago’s South Shore neighborhood. The building contains a combination of well appointed studio, one bedroom and two bedroom apartments, some of which have received new in unit improvements.

Other recent improvements include a new roof layer and masonry work. The building has been meticulously maintained and is professionally managed, presenting a new owner with the ability to acquire a stabilized and well occupied asset. In addition, there is a value-add opportunity via continued unit modernization in order to achieve proven higher rent levels.

7801 S. Bennett Ave.

Interra Realty has been exclusively engaged to market for sale 7801 S. Bennett Ave. The subject property is a 16 unit, corner walk up apartment building located in Chicago’s South Shore neighborhood. The building contains a combination of well appointed one and two bedroom apartments, some of which have received new in unit improvements.

Other recent improvements include a new roof layer, repaired porches and a new boiler. The building has been meticulously maintained and is professionally managed, presenting a new owner with the ability to acquire a stabilized and well occupied asset. In addition, there is a value-add opportunity via continued unit modernization in order to achieve proven higher rent levels.

Highlights

7040 S. Merrill Ave.

  • Repaired and Painted Fire Escapes
  • Recent Façade Restoration
  • New Paint and Lights In All Hallways
  • New Security Cameras
  • Common Area, Building System and In-Unit Energy Efficiency Improvements
  • On Site Laundry Facility, Tenant Parking Lot & Passenger Elevator

7337 S. Ridgeland Ave.

  • New Roof Layer
  • Recent Tuckpointing and Masonry Work
  • New Carpet, Paint and Lights in Hallways
  • New Circulation Pump and New Hot Water Tank
  • Common Area, Building System and In-Unit Energy Efficiency Improvements

7801 S. Bennett Ave.

  • New Roof Layer & Repaired Porches
  • Lintel and Tuckpointing Repairs
  • New Carpet, Paint and Lights in all Hallways
  • New Entry Doors and Intercom System
  • Common Area, Building System and In-Unit Energy Efficiency Improvement

Key Details

Asking price
$5,405,000
Number of Units
83
Number of Buildings
3