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Sara Latta-Young

saralattayoung@gmail.com +1(815) 685-5090

$ 375,000

Est. payment | -/mo

3 Beds

2 Baths

Save

$ 375,000

Est. payment | -/mo

Save

3 Beds

2 Baths

OPEN HOUSE

Sun Dec 15, 12:00pm - 1:30pm

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12223081

Bedrooms 3

Year Built 1926

Annual Tax Amount $3,615

Tax Year 2023

Lot Dimensions 30X127

Property Description

Step into a rare opportunity at 7712 S. Jeffery Blvd., where potential and promise come together in one of Chicago's most sought-after neighborhoods-South Shore! This untraditionally large, golden brick three-unit building is a dream for both investors and owner-occupants, offering an unbeatable combination of space, income potential, and prime location. With over 4,000 square feet of living space, each unit features more than 1,300 square feet, including three spacious bedrooms, original hardwood floors throughout, separate living room and dining room area, and a master suite in every unit! This property comes with a solid foundation of improvements already in place, including two new furnaces (2024), brand-new copper water lines throughout (2024), five newly installed bathtubs, and a four-year-old roof. Approximately 80% of the electrical system was updated three to four years ago, and two attic condensers offer the potential for central air installation. While these updates provide a head start, additional renovations will be necessary to restore the property to its full potential and transform it into a thriving income-producing asset. Bring your vision to breathe new life into this incredible building! The full basement is bursting with potential, featuring seven-foot ceilings, front and rear exits, and plumbing already in place-perfect for converting into a legal two-bedroom, one-bath garden unit. Imagine the possibilities of creating an additional dwelling unit to maximize the property's income potential! The three-car garage and laundry area-ready for coin-operated machines-add even more revenue-generating opportunities, making this property a future cash cow. Thoughtfully priced with an end buyer in mind; the financial and equity upside is truly undeniable. After-repair values in the area average $525,000, with high-end renovations exceeding $700,000. Comparable four-unit properties average $565,000. Rental comps show impressive income potential, with $2,000 per month for three-bedroom units and $1,700 per month for two-bedroom units. A converted garden unit would bring the potential total gross monthly income potential to $7,700, making this an investment opportunity that's hard to beat. Convert the dining room into a fourth bedroom for even more rental income potential! Located just minutes from Lake Michigan, Jackson Park Golf Course, the new Obama Presidential Library, bike paths, Lakeshore Drive, major highways, public transportation, shopping, and dining, this property offers unmatched convenience and lifestyle benefits for tenants. Completely vacant and sold as-is, this South Shore gem is brimming with potential and priced to sell quickly. Don't miss the chance to own a standout multifamily property with exceptional equity and income possibilities-schedule your showing today!

Location

State IL

County Cook

Area Chi - South Shore

Zoning MULTI

Rooms

Basement Full

Interior

Heating Natural Gas

Fireplace N

Exterior

Parking Features Detached

Garage Spaces 3.0

Roof Type Rubber

Building

Dwelling Type Two to Four Units

Sewer Public Sewer

Water Public

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by D'Andre Daye • Straight-A Realty, LLC

+1(815) 685-5090

saralattayoung@gmail.com

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7712 S Jeffery BLVD Chicago, IL 60649