7150 S Cornell Ave Chicago, IL 60649
South Shore NeighborhoodEstimated payment $5,573/month
Highlights
- Courtyard
- 3-minute walk to Stony Island Station
- 3-minute walk to Hodes Park
About This Home
Essex has been exclusively engaged to market for sale a 12-unit multifamily building at 7150 S Cornell Ave. Located in the heart of South Shore, the property is a well maintained courtyard building that showcases true pride of ownership since acquiring. The property features six spacious studio apartments and six large one bedroom units, providing a strong unit mix for both stability and rent growth. 7150 S Cornell has benefited from significant recent improvements including but not limited to, a complete tear-off roof completed in 2022, the installation of a new 100-gallon hot water tank in 2022, and an upgraded 600-amp electrical service, all of which provide long-term durability and reduced capital expenditures. Each unit is equipped with gas-forced heating. Looking forward, there is additional upside for a new owner to add laundry facilities, storage units, and the potential to add two garden units, which would enhance both the property's income and its overall value. With its strong existing operations, and clear value-add opportunities, this presents an excellent investment opportunity in one of Chicago's most historic and accessible lakefront communities.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,000
Year Built
- Built in 1926
Home Design
- Flat Roof Shape
- Brick Exterior Construction
Utilities
- Window Unit Cooling System
- Separate Meters
- 200+ Amp Service
Additional Features
- 3-Story Property
- Courtyard
Community Details
Overview
- 12 Units
Building Details
- Electric Expense $3,216
- Fuel Expense $4,080
- Insurance Expense $6,923
- Maintenance Expense $6,000
- Other Expense $3,000
- Trash Expense $6,444
- Water Sewer Expense $2,208
- Operating Expense $56,357
- Gross Income $125,640
- Net Operating Income $61,744
Map
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 |
|---|---|---|---|---|---|
| 10/07/2025 10/07/25 | Pending | -- | -- | -- | |
| 10/07/2025 10/07/25 | Off Market | $825,000 | -- | -- | |
| 09/26/2025 09/26/25 | For Sale | $825,000 | +91.9% | -- | |
| 12/22/2016 12/22/16 | Sold | $430,000 | -21.8% | -- | View Prior Sale |
| 10/11/2016 10/11/16 | Pending | -- | -- | -- | |
| 07/05/2016 07/05/16 | For Sale | $550,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12479990
APN: 20-25-100-026-0000
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