A
Seller's Agent in 2023
Aaron Sklar
Kiser Group Realty Inc
7763 S Shore Dr Chicago, IL 60649
South Shore Neighborhood
39
Beds
22
Baths
--
Sq Ft
0.31
Acre Lot
Highlights
- 0.31 Acre Lot
- 5-minute walk to Cheltenham Station
- 4-minute walk to Rainbow Beach Park
- Central Heating
About This Home
As of May 20237763 S. South Shore Drive is an absolutely beautiful twenty-two (22) unit property located just off of Chicago's lake front on the historic South Shore Drive. Situated directly on Rainbow Beach Park, renters have access to all of the Parks amenities along with incredibly easy transportation to and from Chicago's downtown via CTA bus stop directly in front of the property. Additionally, the property also sits just north of Chicago's South Works Site - the 415 acre former US Steel site slated for development, and just south of the future Presidential Library, which has recently began construction. 7763 S. South Shore Drive has an incredibly desirable unit mix comprised of both one and two bedroom apartments. Currently, the building consists of seventeen (17) 2b/1ba units and five (5) 1b/1ba units. All of which, however, are incredibly spacious, boast hardwood flooring and an abundance of natural light, and also include both living and dining rooms. Additional improvements to the building consist of, but not limited to, a modern Smith central boiler serviced by Hollub, an updated and code compliant exterior porch, newer windows, along with a silver coated roof. Additionally, the building is equipped with a laundry facility in the basement, as well as a parking lot in the rear (which is currently not being capitalized on). Throughout the years, 7763 S. South Shore Drive has been extremely well maintained. This investment presents an investor with a unique and incredibly rare opportunity to acquire a stabilized and strong cash flowing asset along Chicago's lake front. Furthermore, simply by converting either the living or dining room into an additional bedroom presents a significant value add opportunity. Additionally, through improved leasing and management and stabilizing rents to market rate levels, an investor can realize a cap rate over 12%. ASSUMABLE FINANCING: Buyer has the option to assume the current loan, approximate terms are: - $1,100,000 - 5.08% - 6 Years Remaining
Last Agent to Sell the Property
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 03/08/2021
Co-Listed By
Noah Birk
Kiser Group Realty Inc License #475125864
Last Buyer's Agent
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 03/08/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $23,931
Year Built
- Built in 1917
Lot Details
- 13,504 Sq Ft Lot
- Lot Dimensions are 100' x 137'
Parking
- 6 to 12 Parking Spaces
Home Design
- Garden Apartment
Interior Spaces
- 3-Story Property
Bedrooms and Bathrooms
- 39 Bedrooms
- 22 Bathrooms
Utilities
- Central Heating
- Radiator
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 22 Units
Building Details
- Electric Expense $2,741
- Fuel Expense $6,521
- Insurance Expense $7,000
- Maintenance Expense $7,750
- Manager Expense $11,926
- Other Expense $5,000
- Trash Expense $4,185
- Water Sewer Expense $12,629
- Operating Expense $85,482
- Gross Income $251,064
- Net Operating Income $155,974
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Apr 10, 2026
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
0.063%
Mortgage Type
Construction
Purchase Details
Closed on
Jan 1, 2025
Sold by
Bought by
Purchase Details
Listed on
Mar 8, 2021
Closed on
May 16, 2023
Sold by
Bought by
Seller's Agent
Aaron Sklar
Kiser Group Realty Inc
Buyer's Agent
Aaron Sklar
Kiser Group Realty Inc
List Price
$1,650,000
Sold Price
$1,400,000
Premium/Discount to List
-$250,000
-15.15%
Views
3
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,812,000
Interest Rate
0.0667%
Mortgage Type
New Conventional
Purchase Details
Closed on
Nov 10, 2018
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,120,000
Interest Rate
0.047%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Apr 20, 2006
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,070,000
Interest Rate
0.0672%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 28, 2003
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$960,000
Interest Rate
0.0601%
Mortgage Type
Commercial
Purchase Details
Closed on
Aug 15, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$700,000
Interest Rate
0.0624%
Mortgage Type
Commercial
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,210,000 | Lakeview Title | ||
| -- | None Listed On Document | ||
| $2,700,000 | Old Republic Title | ||
| $1,400,000 | Attorney | ||
| $1,470,000 | Lawyers | ||
| $1,320,000 | Pntn | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $435,000 | ||
| Previous Owner | $2,000,000 | ||
| Previous Owner | $1,812,000 | ||
| Previous Owner | $1,812,000 | ||
| Previous Owner | $1,120,000 | ||
| Previous Owner | $1,500,000 | ||
| Previous Owner | $1,070,000 | ||
| Previous Owner | $960,000 | ||
| Previous Owner | $700,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/23/2023 05/23/23 | Sold | $1,400,000 | -9.7% | -- |
| 02/13/2023 02/13/23 | Pending | -- | -- | -- |
| 01/31/2023 01/31/23 | Price Changed | $1,550,000 | -3.1% | -- |
| 12/14/2022 12/14/22 | Price Changed | $1,600,000 | -3.0% | -- |
| 10/14/2022 10/14/22 | Price Changed | $1,650,000 | 0.0% | -- |
| 10/14/2022 10/14/22 | For Sale | $1,650,000 | -10.8% | -- |
| 07/12/2022 07/12/22 | Pending | -- | -- | -- |
| 05/16/2022 05/16/22 | Price Changed | $1,850,000 | 0.0% | -- |
| 05/16/2022 05/16/22 | For Sale | $1,850,000 | -3.9% | -- |
| 04/06/2022 04/06/22 | Pending | -- | -- | -- |
| 03/09/2022 03/09/22 | Price Changed | $1,925,000 | 0.0% | -- |
| 03/09/2022 03/09/22 | For Sale | $1,925,000 | +37.5% | -- |
| 08/04/2021 08/04/21 | Off Market | $1,400,000 | -- | -- |
| 08/02/2021 08/02/21 | Pending | -- | -- | -- |
| 06/23/2021 06/23/21 | Off Market | $1,400,000 | -- | -- |
| 03/08/2021 03/08/21 | For Sale | $1,750,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $25,199 | $141,905 | $17,125 | $124,780 |
| 2024 | $25,199 | $173,100 | $17,125 | $155,975 |
| 2023 | $24,478 | $119,008 | $12,330 | $106,678 |
| 2022 | $24,478 | $119,008 | $12,330 | $106,678 |
| 2021 | $23,931 | $119,007 | $12,330 | $106,677 |
| 2020 | $20,347 | $91,336 | $12,330 | $79,006 |
| 2019 | $18,351 | $91,336 | $12,330 | $79,006 |
| 2018 | $18,042 | $91,336 | $12,330 | $79,006 |
| 2017 | $20,709 | $96,201 | $10,275 | $85,926 |
| 2016 | $15,649 | $78,134 | $10,275 | $67,859 |
| 2015 | $14,318 | $78,134 | $10,275 | $67,859 |
| 2014 | $11,361 | $61,232 | $10,275 | $50,957 |
| 2013 | $11,137 | $61,232 | $10,275 | $50,957 |
Source: Public Records
Agents Affiliated with this Home
-
-
N
Seller Co-Listing Agent in 2023
Noah Birk
Kiser Group Realty Inc
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11013926
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
Nearby Homes
- 7801 S South Shore Dr
- 3017 E 78th St Unit 4B
- 7721 S Coles Ave Unit B
- 2821 E 77th Place
- 7829 S South Shore Dr Unit H
- 7829 S South Shore Dr Unit G
- 2922 E 78th Place
- 7855B S South Shore Dr Unit 3E
- 7800 S Exchange Ave
- 7749 S Muskegon Ave Unit MRD12521789
- 7829 S Escanaba Ave
- 7854 S South Shore Dr Unit 405
- 7854 S South Shore Dr Unit 502
- 7854 S South Shore Dr Unit 306
- 7854 S South Shore Dr Unit 313
- 7854 S South Shore Dr Unit 513
- 7828 S Escanaba Ave
- 2848 E 79th St
- 2907 E 79th St
- 3038-3040 E 79th Place
- 7755 S South Shore Dr Unit 1
- 7755 S South Shore Dr Unit 2E
- 7755 S South Shore Dr Unit 1W
- 7755 S South Shore Dr Unit Apartment 1W
- 7759 S South Shore Dr
- 3000 E 78th St
- 3012 E 78th St Unit 103
- 3012 E 78th St Unit 102
- 3012 E 78th St Unit 101
- 3012 E 78th St Unit 402
- 3012 E 78th St Unit 401
- 3012 E 78th St Unit 301
- 3012 E 78th St Unit 302
- 3012 E 78th St Unit 201
- 3012 E 78th St Unit 202
- 3012 E 78th St Unit 4F
- 3012 E 78th St Unit PENTHOUSE
- 3012 E 78th St Unit 4E
- 3012 E 78th St Unit 3D
- 3012 E 78th St Unit 3C
Your Personal Tour Guide
Ask me questions while you tour the home.