7847 S Essex Avenue
Chicago, IL 60649

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Description

Seller financing available! Introducing 7847 S Essex Ave, a 28-unit mixed-used investment opportunity located in Chicago's South Shore neighborhood. This well-positioned corner building offers investors the chance to acquire a sizable asset with strong income potential for both residential and commercial use just minutes from Lake Michigan. The property has 1 commercial tenant and the rest of the building is completely vacant. Unit mix is 6 commercial, 14 one bedrooms, 8 studios. Extensive renovation is needed, this project is best for someone who has re-development experience. With consistent rental demand in the area, this asset presents an excellent opportunity for both seasoned investors and those looking to begin or expand their apartment portfolio. This investment is one that presents a significant opportunity for value add. Conveniently located with close proximity to public transportation, Obama Library, Museum of Science & Industry, Lake Shore Drive, the historic South Shore Cultural Center, a $9 billion dollar Quantum Computing Campus, and much more! Don't miss out on your opportunity to have a positive impact on the community by renovating this large multi-family property in one of Chicago's evolving Southside neighborhoods. Schedule your private tour today! Some exterior photos are virtually staged.

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60649
• Year Built: 1926
• Sq.Ft.: 20,500 sq ft
• Stories: 3
• Units: 28 units
• Zoning: COMMR
• Approximate Age: Older
• Building Area Total: 20500
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick
• Directions: NORTHWEST CORNER OF S ESSEX AND 79TH
• Foundation Details: Concrete Perimeter
• Heat/Ventilation: Radiators
• Information: List Broker Must Accompany
• Known Encumbrances: None Known
• Location: Corner
• Lot Size Square Feet: 10250
• Main Type: Commercial Sale
• Roof Structure: Flat
• Tax Annual Amount: 40134
• Tax Year: 2023