7550 South Kingston, Chicago IL 60649
Property Description
This Beautiful 17 units features (3) 3bed 2bath Units (9) 2bed 2bath Units (3) 2bed 1bath Units (1) 1bed 1bath (1) Studio with 1bath apartment. The first 12 units are abnormally large with living room, dining room, plenty of closet space and a separate kitchen. Based on completion numbers, the property should generate 26,850/mo after renovation. Thats 322,200 per year. If you put in individual furnaces & individual hot water tanks, conservatively, you would have a back end value of 2.8 million with a cap rate of roughly 10. Property needs full gut renovation with plans and permits to be city compliant. Numbers are ProForma. Court case present, plans and permits required.
Features & Information
Key Details
- List Price $550,000
- Property Taxes $21,599.
- Price/ Sq. Ft. Unavailable
- Year Built 1920
- Status New
Building Information
- Age of Building Older
- Exterior Construction Brick
- Heating & Cooling Steam
Location
- County Cook
- Directions to Property Take South Shore Drive To 75th Street. West To Kingston, South To Building.
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Property Taxes
- Tax $21,599.
- Parcel Identification Number 21303020160000
Listed by David Thomas for Blue Door Dave Inc | Source: MRED as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 2/22/2025 1:02 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Explore South Shore
Historic parks and extensive beaches meet down-to-earth, affordable living in this beautiful south side Chicago neighborhood. South Shore is a sprawling community that encompasses expansive public recreation space and ambitious civic organizations. The neighborhood cultural center acts as a hub for outdoor amusement with lengthy walking trails, a bird sanctuary, all-ages sports programs, and waterfront grounds that offer breathtaking views of downtown Chicago. When night falls in the summer, movies and live music take place at the center, bringing neighbors and families together. A healthy retail corridor along 71st Street gives the area a cosmopolitan touch and the selection of down-home cooking available at the restaurants in South Shore is enough to satisfy any comfort food craving.
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