7607 S Normal Ave Chicago, IL 60620

- 9.03% In-Place Cap Rate - Gross Income (w/ 5% vacancy): $72,162 - NOI: $42,916 Kiser Group is pleased to exclusively offer for purchase the sale of 7607 S. Normal, a completely gut renovated, over-sized six (6) unit walk-up building located in the Greater Grand Crossing neighborhood of Chicago's South Side. The building sits on an incredibly quiet, tree-lined street nestled between both Auburn Park's Winneconna Parkway to the South, which boasts Venetian style canals overlooking beautiful lagoons and stone bridges, and also Hamlin Park to the North - one of Chicago's premier parks featuring a swimming pool, baseball diamonds, basketball and tennis courts, and more. 7607 S. Normal has an incredibly desirable unit mix compromised of all three bedroom and four bedroom units. Currently, there are five (5) 3b/1ba units and one (1) 4b/1ba units. All of which, however, have been fully get renovated, incredibly spacious, and boast hardwood flooring throughout. In addition to updated kitchens and bathrooms, further improvements to the building consist of, but not limited to, a updated electrical service with in-unit breaker boxes, individual (in-unit) furnaces, an updated exterior porch, copper plumbing, along with significant masonry and tuckpointing. . 7607 S. Normal presents an investor a unique opportunity of acquiring a positive, cash flowing asset with an in place cap rate over 9% along with incredibly minimal expenses. Because the tenants are responsible for all utilities and features separate water tanks and furnaces, the building comes with no gas bill. Furthermore, at the current market levels, the asset yields an immediate cash return of just nearly 20%. Additionally, the deal also presents an incredible value add component. Currently, similar three and four bedroom units in the neighborhood are renting for roughly $1,300 and higher. Furthermore, a new owner has the option of increasing the bedroom count by converting the existing three bedroom units to four bedrooms simply by transfiguring either the living or dining room to a bedroom.