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7238 S South Shore Drive

Chicago, IL 60649
  • $549,900
  • STATUS: Active Under Contract
  • ON SITE: 161 Days
  • MLS #: 11451725
Under Contract
UPDATED: 207 min ago
$549,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1921
County:

School Ratings & Info

Description

We heard you were looking for inventory in the South Shore Area? Stop the Car and take a look at this Multi-Family Legacy Builder! Conveniently located in the epicenter of the Historic South Shore Community, walking distance to the South Shore Golf Course, the Lake/Beach and a quick bike ride to The Obama Presidential Center. This is the one you have been waiting for all year! The interior includes (3) Four Bedroom/3 Bath Units at Approximately 2,500 sq. ft. each. (1) Two Bedroom /1 Bath Unit with a 2 Bedroom/1 Bath Coach House over Brick 3 Car Garage. Did we mention the 5 additional outdoor parking spaces to maximize additional monthly rental income. Great Building for a future Condo Conversion if the new Buyer is willing to put in the necessary effort. One great asset: All Living rooms are facing Lake Michigan with an elegant east view and in the upper unit there is no obstruction to the Lake. Whether you are interested in Renting out all units (at market Rent) or staying onsite this is surely not a building that you want to pass up. The building has so many possibilities and with your time, creativity and proper consultation (which we can provide) it can truly be your Legacy Builder. FYI: Initial showing will be for one unit (minimum) and upon an accepted offer a full tour will be provided! NOTE: Tenants are all M2M and the building has ONLY one vacant unit (4bed/3bath) and the Coach House is also occupied.

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Rossi and Taylor Realty Group. Based on information submitted to the MRED as of 2022-12-08T23:57:57.51 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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7238 S South Shore Drive Chicago, IL 60649

  • Price: $549,900
  • Status: Active Under Contract
  • On Site: 161 Days
  • Updated: 207 min ago
  • MLS #: 11451725
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1921
Built
Neighborhood:
Chi - South Shore
County:
Cook
Area:
Chi - South Shore
Property Description
We heard you were looking for inventory in the South Shore Area? Stop the Car and take a look at this Multi-Family Legacy Builder! Conveniently located in the epicenter of the Historic South Shore Community, walking distance to the South Shore Golf Course, the Lake/Beach and a quick bike ride to The Obama Presidential Center. This is the one you have been waiting for all year! The interior includes (3) Four Bedroom/3 Bath Units at Approximately 2,500 sq. ft. each. (1) Two Bedroom /1 Bath Unit with a 2 Bedroom/1 Bath Coach House over Brick 3 Car Garage. Did we mention the 5 additional outdoor parking spaces to maximize additional monthly rental income. Great Building for a future Condo Conversion if the new Buyer is willing to put in the necessary effort. One great asset: All Living rooms are facing Lake Michigan with an elegant east view and in the upper unit there is no obstruction to the Lake. Whether you are interested in Renting out all units (at market Rent) or staying onsite this is surely not a building that you want to pass up. The building has so many possibilities and with your time, creativity and proper consultation (which we can provide) it can truly be your Legacy Builder. FYI: Initial showing will be for one unit (minimum) and upon an accepted offer a full tour will be provided! NOTE: Tenants are all M2M and the building has ONLY one vacant unit (4bed/3bath) and the Coach House is also occupied.
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type City Street Outdoor Parking 1-5 Spaces Parking Total 8 Roof Rubber Roof Structure Flat

Interior Features

Cooling Window Unit(S) Heat Ventilation Forced AirGas

Property Features

Additional Parcels YN No Approximate Age Older Building Area Total 7134 Built Before1978 YN Yes Contingency Attorney/Inspection Continue To Show Yes Current Use Multi-Family Electric Circuit BreakersService - 201 To 600 Amps Fire Protection None Gross Income 3190 Gross Scheduled Income 38280 Insurance Expense 2500 Maintenance Expense 8500 Mls Actual Status Contingent Net Operating Income 9780 Operating Expense 28500 Ownership Types Land Trust Possible Use CondominiumMulti-Family Tax Annual Amount 6042 Tax Year 2020 Tenant Pays Air ConditioningElectricityHeat Total Monthly Income 3190 Township Hyde Park Type Multi Family 5+ Utilities Sanitary SewerWater-Municipal Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Exit Strategy Realty / Ema Management: 312-767-0572.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Rossi and Taylor Realty Group. Based on information submitted to the MRED as of 2022-12-08T23:57:57.51 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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