7801 S South Shore Drive, Chicago, IL

$2,895,000

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About 7801 S South Shore Drive

PRICE REDUCED for this attractive 1960's era, 32 unit brick building in great location in booming South Shore. Appealing unit mix of 4 studios, 10-1/1's, 15-2/1's and 3-3/1's. Roof, Porches, Masonry/Tuckpointing, and Electrical work done within last 5-8 yrs. Every unit updated with Bath and Kitchen reno during same period. Laundry in basement area and outdoor parking in rear for 16-20 cars. Located 1/2 block from Rainbow Beach Park and Rainbow Beach on the shore of beautiful Lake Michigan. The CTA 26, 6, 71, and N5 buses serve this location with both north and south bound stops at 78th and S. South Shore Dr, and it's just a short 2 block walk to the Metra Line (commuter rail) stop. Less than 3 miles to world renowned University of Chicago, the new Obama Presidential Library, the soon to be renovated Jackson Park Golf course, and just 9 blocks from the Campus of the soon to be built, 1 million s.f. Illinois Quantum and Microelectronics Park. Also, less than 11 miles to the center of downtown Chicago. New property management is in place and is working to stabilize rents. There is an ASSUMABLE loan in place at an attractive rate and it will not adjust until 12-1-28, at which time it will float off SOFR.

Features of 7801 S South Shore Drive

MLS® # 12579441
Price $2,895,000
Bathrooms 0.00
Year Built 1961
Type Commercial Sale
Sub-Type Multi Family 5+
Status Active

Community Information

Address 7801 S South Shore Drive
Area CHI - South Shore
City Chicago
County Cook
State IL
Zip Code 60649

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Window Unit(s)
Fireplace No
Has Basement Yes
Basement Finished

Exterior

Exterior Brick, Concrete

Additional Information

Days on Market 180
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficePearson Realty Group

Listing Map

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