Interra Realty has been exclusively engaged to market 6949-59 S. Merrill Avenue, Chicago, for sale. The subject investment property is a 31-unit, courtyard-style, multifamily asset in the Jackson Park Highlands submarket of South Shore.
The property offers an attractive and diverse unit mix ranging from large studios to three-bedroom apartments. The property recently received new electrical service and select units have received modernization to the kitchens and bathrooms. Two units were reconfigured to include an
additional bedroom, which translated to approximately $300 higher per month. A new buyer may elect to continue that strategy or could push rent levels in the units’ current condition.
A new investor has the opportunity to acquire a high curb appeal multifamily asset in a Chicago submarket that has experienced strong appreciation and rent growth. The offering presents investors with a mix of stability and operational upside.
- High Curb Appeal Vintage Courtyard
- Desirable Jackson Park Highlands Location
- Attractive Unit Mix with Studio, 1, 2, and 3 Bedroom Layouts
- New 1200 AMP Electrical Service
- Operational Upside