7854 South South Shore Drive, Chicago, IL for sale

Investment Overview

33 Realty is pleased to present for sale, as a de-conversion opportunity, 7854 S South Shore Drive, a 60-unit elevator building located in Chicago's South Shore neighborhood. Built in 1974, the property consists of 13 studio/one-bathroom units, 31 one-bedroom/one-bathroom units, and 16 two-bedroom/two-bathroom units. Amenities include an elevator, on-site laundry, and individual electric metering. The property is situated near Rainbow Beach, offering residents convenient access to the lakefront. 7854 S South Shore Drive presents an excellent opportunity to add value by bringing the consistency and efficiency of a single ownership group to the property. With rents believed to be below market, a new owner has strong potential to push rents as units become available.

Investment Highlights

• 60-unit elevator building
• De-conversion opportunity
• 13 studios, 31 one-bedroom, and 16 two-bedroom units
• Individual electric metering
• On-site laundry
• Steps from Rainbow Beach and the lakefront
• South Shore neighborhood
• Rents below market with potential to push to market levels
• Single ownership opportunity to improve operational efficiency
• Paved Parking Lot