7270 S. South Shore Dr Chicago | 53-Unit Multifamily Asset at 8.31pc Cap Rate

7270 S. South Shore Dr Chicago | 53-Unit Multifamily Asset at 8.31pc Cap Rate is a multifamily for sale in Chicago, Illinois, listed at $7,000,000. Key details: year built 1970, building size 40,000 sqft, lot size 20,521 sqft, stories 5. Listed by Tony Hardy of Keller Williams ONEChicago on LoopingCloud and last updated August 31, 2026.

Key facts

Year Built

1970

Building Size

40,000 sqft

Lot Size

20,521 sqft

Stories

5

Parking Spaces

18

Total Units

52

Building Class

Class C

Occupied

Yes

Occupancy

90%

Property Status

Normal Sale

Building Status

Existing

Pricing details

Financing

Third Party Financing

Investment Property

Active investment property

Acquisition options

Property Other Use Types

• Property Type Multifamily
• Sub Type Apartment Building
• Zoning MULTI
• Investment Type Value Add

Property Features

• Penthouse & Rooftop Deck: A expansive $3,800\text{ sq ft}$ penthouse common area lounge and roof deck offering stunning views of Lake Michigan.
• Unit Mix & Modern Interiors: 53 total units (9 two-beds, 42 one-beds, 1 studio) equipped with stainless steel appliances, dishwashers, and updated bathrooms.
• On-Site Parking: 18 dedicated surface parking spaces with expansion capacity of up to 22 stalls.
• Elevator Infrastructure: Two upgraded elevators, including separate passenger and freight options.
• Laundry Amenities: Ten modern, credit-card-operable laundry machines generating supplemental income.
• On-Site Management: Dedicated professional on-site building management and dedicated maintenance space.

Highlights

• Strong In-Place Cash Flow: Delivers immediate financial performance with a current NOI of $\$582,033$ and an attractive $8.31\%$ cap rate.
• Pro Forma Upside Potential: Significant value-add opportunity with a projected Pro Forma NOI of $\$765,551$, pushing the cap rate to $10.94\%$.
• Low Operational Costs: Features all-electric tenant-paid baseboard heating, minimizing owner utility expenses and simplifying management.
• Prime Chicago Location: Situated in the vibrant South Shore neighborhood, just one block from the Lakefront and 15 minutes from the Loop.
• Complete 2018 Renovation: Fully gut-renovated with brand-new electrical, plumbing, roofs, and mechanical systems for low ongoing maintenance.

About this area - Chicago

Population

54,823

Housing units

26,432

Land area

3.0 sq mi

County

Cook

Listing ID

CL-Illinois-28377

Published

Aug 31, 2026

Last updated

Aug 31, 2026

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