7651 S Coles Ave Immeuble residentiel 6 lots 526 740 € (87 790 €/Lot) Taux de capitalisation 8,69 % Chicago, IL 60649

Kiser Group is pleased to exclusively offer for purchase 7651 S. Coles, a rarely available six (6) unit walkup located in Chicago’s South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago’s Lake Shore Drive which provides tenants easy access to Chicago’s downtown in roughly fifteen minutes.
7651 S. Coles is currently comprised of five (5) oversized 3b/1ba units & one (1) oversized 2Bd/1Ba unit. All units feature incredibly spacious layouts with separate living rooms, dining rooms, and an adjacent sun room. The building has undergone extensive renovations consisting of, but not limited to: updated kitchens & baths, updated copper plumbing, individual furnaces, new hot water tank (2024), on-site laundry facility, and a new roof (2021).
7651 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of 8.00% and a cash return of 9.35%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could increase the cap rate to over 10% and a cash return of over 18%.