7437 South Chappel , CHICAGO, IL 60649
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Stately, vintage 6-unit multi-family building in Chicago's historic South Shore neighborhood. Located just blocks from Lake Michigan, Jackson Park (recently announced site for the Obama Presidential Library and development of the Tiger Woods Golf course), South Shore Country Club and the Museum of Science and Industry. This property historically offers high occupancy rates and long-term tenants. Each unit features a spacious 3 bed/2 bath floorplan, hardwood floors t/o, updated kitchen & bath, butler's pantry, walk-in alcove, decorative fireplace, original stained glass, formal dining room, tons of closet space, enclosed back porches, full walk-out basement and 1 garage parking spot/apartment. The building is served by a central boiler system and central hot water tanks. Tenants utilities are separately metered for electric and cooking gas, which they pay for. Solid investment!! At list price an investor would realize a 10.94% cap rate and 23.51% cash-on-cash return!