Essex Realty Group, Inc. is happy to announce the sale of 7400 S. Chappel Ave, an 18 unit corner lot building in the heart of Chicago’s South Shore neighborhood. The close proximity to all of South Shore’s attractions made this location very desirable. The sold properties unit mix is three (3) studio apartments, twelve (12) one-bedroom apartments, and three (3) two-bedroom apartments. Options to expand studios & one-bedrooms into larger units will be beneficial to increase rents.

The property is situated on the corner of S. Chappel Ave and E. 74th St in Chicago’s historic South Shore neighborhood. The property is just 1.1 miles from the South Shore Golf Course. Rainbow Beach sits just 1.2 miles from the subject property. Chicago’s Museum of Science and Industry, The University of Chicago and Jackson Park are all located within 3 miles from the subject
property.

• Prime South Shore Location
• Value-add Opportunity
• 18 Units
• Good unit mix with option to expand
• $50,000 per unit
• Stabilized Cap Rate - 12.64%
• Current GRM - 6.2