15
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$775,000
Est. payment /mo
6,000 SqFt
Active
7926 S Luella AVE Chicago, IL 60617
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UPDATED:
12/05/2024 06:06 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $129
MLS Listing ID 12216017
Maintenance Fees $35,000
Year Built 1929
Annual Tax Amount $3,800
Tax Year 2023
Lot Dimensions 50*125
Property Description
Excited to present 7926 S Luella Ave, a six-unit building in South Shore - one of Chicago's emerging lakefront neighborhoods experiencing a remarkable renaissance. South Shore's strategic location along Lake Michigan's southern shoreline places it at the epicenter of unprecedented development and investment opportunities. This blonde brick beauty stands proudly among South Shore's collection of historic Chicago bungalows, showcasing the magnificent architectural detailing of 1920s craftsmanship. The property's location offers seamless connectivity to downtown while providing residents the coveted advantage of lakefront living. The neighborhood's transformation is being catalyzed by several major developments: - The Obama Presidential Center, now under construction in neighboring Woodlawn, driving significant economic growth - The upcoming Tiger Woods-designed PGA-caliber golf course renovation of the Jackson Park/South Shore golf complex - Proposed enhancement of the nearby harbor facilities - The recently announced urban planning initiatives focusing on South Shore's commercial corridors 7926 S Luella Ave features: - (3) 3bd/1ba and (3) 2bd/1ba units - Original hardwood flooring throughout - Individual HVAC systems - Abundant natural light - Newly remodeled 5-car brick garage with front driveway access - On-site laundry facilities - Walking distance to hospital and lakefront The property presents multiple value-add opportunities: -Good Cap rate - Prime candidate for condo conversion - Ideal for healthcare professional housing, capturing the growing market of traveling medical staff - Strong potential for appreciation As South Shore continues its upward trajectory, bolstered by major infrastructure investments and its pristine housing stock, 7926 S Luella Ave represents an exceptional opportunity to invest in one of Chicago's most promising lakefront communities. The combination of stable cash flow, multiple value-add scenarios, and the neighborhood's evident momentum makes this an compelling investment opportunity.
Location
State IL
County Cook
Area Chi - South Chicago
Zoning MULTI
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Sanitary Sewer, Water-Municipal, Cable Available
Roof Type Membrane
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
Others
HOA Fee Include None
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Brittany Ramsey • Coldwell Banker Realty