7200 South Stony Island AvenueChicago, IL 60649Sale Price: $2,025,000

  • Sale Price: $2,025,000
  • 96 Days Since Sale
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Federal 30-year interest rate: 7.22% last updated on Nov 30, 2023
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 1898Year Built

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Triton Realty Group, LLC presents for purchase 7200-02 S. Stony Island Avenue, a 24 unit multifamily building located in Chicago's booming South Shore neighborhood. This elegant brick walk-up contains an excellent unit mix featuring twelve (12) 2 bed/1 bath and twelve (12) 1 bed/1 bath apartments. This property has received great care, maintenance, and updates to the units all while preserving its classic historic Chicago architecture. Every apartment showcases desirable open floor plans with massive square footage, large living areas, ample bedroom space, a beautiful kitchen and plenty of natural light. Other updates include condo quality finishes: stainless-steel appliances, in-unit laundry, refinished hardwood flooring, and updated bathrooms. In addition to its cosmetic updates, the building has individual and separate utilities in-unit, minimizing owner expenses. Further building improvements include, but are not limited to, updated electric, plumbing, a steel porch system, and an abundance of masonry & tuckpointing work. 7200-02 S. Stony Island Avenue presents an incredible investment opportunity to acquire a renovated building in one of Chicago's most developing and desirable neighborhoods, South Shore. From a risk-adjusted perspective, a new investor has the prospect of adding value without the significant cost of a construction renovation. By raising rents to levels already being achieved in the building, new ownership may further improve the building's income. A buyer has the rare opportunity to acquire a stabilized investment with upside potential in an appreciating location providing a solid cash-on-cash return for many years to come.

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Listed by Harrison Cohen and James Thompson of Triton Realty Group LLC

Listing Sold by Triton Realty Group LLC

Based on information submitted to MRED  as of December 1, 2023 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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