One of a kind Lakefront apartment building on Historic South Shore Drive. Steps from the beach. This 27 unit apartment building offers: parking, elevator, in-house laundry, enclosed staircases and many other amenities. Located within walking distance of Jackson Park Golf Course and just minutes from Hyde Park and University of Chicago.

Value-add opportunity! Property needs new roof ($19K), elevators ($77K), and top floor renovated. Entire top floor is currently vacant

Location Description:

Corner Brick and Mortar 4+1 building directly on Chicago's Lake front! Property comes with 18 parking spaces.

Highlights:

>> Great Unit Mix: (4) 2 Bed / 2 Bath, (5) 2 Bed / 1.5 Bath, (9) 2 Bed / 1 Bath, (5) 1 Bed / 1 Bath, & (4) Studios

>> Building needs new roof (~$30-35K) and elevator ($77K) - voucher eligible afterwards

>> Value add opportunity through upgrading units, increasing rents, and aesthetic upgrades

>> 9.9% Cap with top floor vacancy (six units)!

>> 15%+ Cap after renovation/stabilization ($300K renovation allowance)

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