7628 S Phillips Ave Chicago, IL 60649

7628 S. Phillips is a six (6) unit center entrance walk-up building in Chicago's historic South Shore neighborhood. Over the past year, South Shore has seen a resurgence in new developments due to its proximity to Lake Michigan, as well as Chicago's downtown, most notably with the construction of the Obama Presidential Library. Conveniently located blocks away from the CTA bus line at Windsor Park, the property sits on a quiet tree-lined street composed of community outreach programs and single-family homes. 7628 S. Phillips has a desirable unit mix consisting solely of six (6) 3Bd/1Ba units. All of the units are equipped with spacious floorplans and hardwood flooring. Recent improvements to the building include, but are not limited to, a newer roof, updated electric, and individual furnaces & hot water tanks 7628 S. Phillips offers an investor the opportunity to acquire a positive, cash-flowing asset. From day one, the asset's next owner will realize a cap rate over 10% and a cash return of nearly 18.5%. Furthermore, through cosmetic updates and raising rents to levels already being achieved, an investor could achieve a cap rate of 12.23% and a cash return of over 27%.