Seller's Agent in 2025
Phillip Dixon
Compass
(312) 879-9293
4 in this area
44 Total Sales
6729 S Chappel Ave Chicago, IL 60649
South Shore Neighborhood
--
Bed
--
Bath
--
Sq Ft
6,970
Sq Ft Lot
About This Home
As of May 2025Welcome to 6729 - 6731 South Chappel Avenue, an exceptional investment opportunity in the heart of Chicago, IL. This impressive 8-unit building boasts a total of 22 bedrooms and 8 bathrooms across a generous single PIN 7,056 square feet lot. The property offers a lucrative current cap rate of over 7.7% and is fully leased with reliable, all performing tenants, historically maintaining a low vacancy rate. This property is a savvy investor's dream, featuring 6 three-bedroom, one-bathroom units, and 2 two-bedroom, one-bathroom units. The building is equipped with essential amenities including 2 coin operated washers and dryers, and a hard-wired security system for added peace of mind. With 8 new parking spots, tenants enjoy the convenience of ample parking. Strategically located in an opportunity zone, this property benefits from low taxes. Its close proximity to public transportation, particularly the CTA Jeffery Jump route, enhances its appeal to tenants seeking convenience. Additionally, the building's low expenses are attributed to tenants covering their own heat, electric, and gas, resulting in a desirable financial profile for investors. Situated just 1 mile from Jackson Park and the future Obama Presidential Library, this property holds promise for future appreciation. The pro forma DSCR of 1.83 and a cash-on-cash return of 18% further underscore the financial attractiveness of this investment. Moreover, with below-market rents, there's immediate potential to realize a cap rate of over 10% and a GRM of 7, presenting an enticing investment opportunity. For discerning investors seeking a prime income-generating asset, the offering memorandum is available upon request. Don't miss out on this rare chance to secure a solid investment in a thriving location that is driving the future of Chicago's South Side Multi-Family Investments.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,200
Year Built
- Built in 1916
Lot Details
- 7,056 Sq Ft Lot
- Lot Dimensions are 56 x 125
Parking
- 6 to 12 Parking Spaces
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Reflective Roof
Interior Spaces
- 3-Story Property
- Carbon Monoxide Detectors
- Laundry Room
- Finished Basement
Utilities
- No Cooling
- Central Heating
- Floor Furnace
- Heating System Uses Gas
- Separate Meters
Listing and Financial Details
- Tenant pays for electricity, heat, hot water
Community Details
Overview
- 8 Units
Building Details
- Electric Expense $600
- Fuel Expense $720
- Insurance Expense $6,651
- Maintenance Expense $602
- Manager Expense $4,692
- Other Expense $2,000
- Trash Expense $2,568
- Water Sewer Expense $7,200
- Operating Expense $34,833
- Gross Income $117,300
- Net Operating Income $87,266
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/21/2025 05/21/25 | Sold | $1,050,000 | -4.5% | -- | |
| 03/25/2025 03/25/25 | Pending | -- | -- | -- | |
| 02/20/2025 02/20/25 | Price Changed | $1,100,000 | -2.2% | -- | |
| 07/08/2024 07/08/24 | For Sale | $1,125,000 | +71.8% | -- | |
| 12/22/2020 12/22/20 | Sold | $655,000 | -6.4% | -- | View Prior Sale |
| 12/18/2020 12/18/20 | For Sale | $699,900 | +6.9% | -- | |
| 11/30/2020 11/30/20 | Off Market | $655,000 | -- | -- | |
| 10/23/2020 10/23/20 | Pending | -- | -- | -- | |
| 06/09/2020 06/09/20 | For Sale | $699,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $9,200 | $63,700 | $10,937 | $52,763 |
| 2024 | $9,200 | $63,700 | $10,937 | $52,763 |
| 2023 | $8,936 | $43,447 | $6,350 | $37,097 |
| 2022 | $8,936 | $43,447 | $6,350 | $37,097 |
| 2021 | $8,737 | $43,447 | $6,350 | $37,097 |
| 2020 | $9,794 | $43,967 | $6,350 | $37,617 |
| 2019 | $8,834 | $43,967 | $6,350 | $37,617 |
| 2018 | $6,820 | $34,525 | $6,350 | $28,175 |
| 2017 | $8,890 | $41,296 | $5,292 | $36,004 |
| 2016 | $8,271 | $41,296 | $5,292 | $36,004 |
| 2015 | $2,289 | $12,492 | $5,292 | $7,200 |
| 2014 | $2,318 | $12,492 | $5,292 | $7,200 |
| 2013 | $2,272 | $12,492 | $5,292 | $7,200 |
Source: Public Records
Agents Affiliated with this Home
-
Phillip Dixon
-
Kasey Taylor
Seller Co-Listing Agent in 2025
Kasey Taylor
Compass
(312) 319-1168
3 in this area
16 Total Sales
-
Elijah Reese
Buyer's Agent in 2025
Elijah Reese
Serene Realty, Inc.
(312) 848-2947
6 in this area
156 Total Sales
-
D
Seller's Agent in 2020
David Evans
Keller Williams ONEChicago
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12103693
APN: 20244010060000
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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 IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
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