NOT LISTED FOR SALE
25 Beds
25 Baths
-- Sq Ft
1926 Built

Last Sold May 03, 2021

Last sale price $1,425,000

121 Days on Market

About This Home

As of May 2021

- 9.05% In Place Cap Rate - Gross Income (w/ 5% Vacancy): $236,824 - NOI: $$129,007 Kiser Group is pleased to exclusively offer for purchase the sale of 7722 S. Jeffery, a twenty five (25) unit, center-entranced courtyard in Chicago's booming 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. Conveniently, the property shares a sidewalk with Chicago CTA's "Jeffery Jump" bus stop, which provides express, almost nonstop service to and from downtown Chicago. 7722 S. Jeffery is comprised solely of spacious 1Bd/1Ba units. All of which, however, feature an open style layout with both updated kitchens and baths. Furthermore, and over the years, the building has undergone several capital improvements. Improvements include, but are not limited to, new porches, newer hot water tanks, and a silver-coated roof. 7722 S. Jeffery presents an investor with an incredibly unique opportunity to acquire a stabilized, cash flowing asset in one of Chicago's most desirable neighborhoods. From day one, an investor will realize an in place cap rate over 9%, as well as a cash on cash return of over 20%. Furthermore, through improved leasing and raising rents to levels already being achieved, an investor could achieve a cap rate of 9.25% and a cash on cash return of nearly 21%.

Last Agent to Sell the Property

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 10/26/2020

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Davidson Zigah

Greensafe Real Estate & Consult License #471019559

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,998

Year Built

  • Built in 1926

Bedrooms and Bathrooms

  • 25 Bedrooms
  • 25 Bathrooms

Utilities

  • Central Heating
  • Radiator

Additional Features

  • 4-Story Property
  • Courtyard
  • Lot Dimensions are 90 x 125

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 25 Units

Building Details

  • Electric Expense $3,598
  • Fuel Expense $20,035
  • Insurance Expense $8,750
  • Maintenance Expense $8,000
  • Manager Expense $11,841
  • Other Expense $3,500
  • Trash Expense $4,019
  • Water Sewer Expense $21,075
  • Operating Expense $107,817
  • Gross Income $249,288
  • Net Operating Income $129,007

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,998

Year Built

Built in 1926

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Courtyard
  • Stories: 4
  • Year Built: 1926
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 25
  • Total Bedrooms: 25
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 1425000

Utilities

  • Heat/Ventilation: Central Bldg Heat,Radiators

Condo/Co-op/Association

  • Manager Expense: 11841

Fee Information

  • Trash Expense: 4019
  • Water Sewer Expenses: 21075
  • Janitor Expense: 7000

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 90 X 125

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 129007
  • Fuel Expense: 20035
  • Insurance Expense: 8750
  • ElectricExpense: 3598
  • GrossIncome: 249288
  • Maintenance Expense: 8000
  • NumberOfUnitsTotal: 25
  • OperatingExpense: 107817
  • Type Multi-Family: Courtyard

Tax Info

  • Tax Annual Amount: 19998
  • Tax Year: 2019

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/03/2021 05/03/21 Sold $1,425,000 0.0% --
02/24/2021 02/24/21 Pending -- -- --
11/24/2020 11/24/20 Price Changed $1,425,000 -8.1% --
10/26/2020 10/26/20 For Sale $1,550,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10917966

Midwest Real Estate Data (MRED)