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31234642
31234643

7220 S Yates Blvd, Chicago, IL 60649 For Sale

MN
IL 475.156088, KY 278736
Jameson Commercial Real Estate
Listed by Jameson Commercial Real Estate
$800,000
119 days on market
Updated 0 days ago
Opportunity zone

7220 S Yates

Details
Property Type Multifamily
Sub Type Apartment Building
Units 6
Cap Rate 7.69%
NOI $59,926
Occupancy 100%
Pro-Forma Cap Rate 9.43%
Broker Co-Op Yes
Class B
Year Built 1908
Year Renovated 2016
Buildings 1
Stories 3
Lot Size (SqFt) 6,100 - 6,400

8%+ Cap | South Shore 6-Unit

Marketing description

Jameson Sotheby's International Realty is pleased to exclusively present for sale 7220 S. Yates Boulevard, a fully gut-renovated, six-unit center-entrance walk-up in Chicago's South Shore neighborhood — one block from the South Shore Cultural Center, the Metra station, and minutes to Lake Michigan.

Completed in 2016, the renovation included new kitchens and bathrooms, updated plumbing and electrical systems, new windows, and a fully refreshed interior, significantly reducing near-term capital requirements. The oversized 2- and 3-bedroom layouts — approximately 1,200+ SF per unit — feature separate living and dining rooms, dual sunrooms, and a mix of exposed brick and drywall, creating a differentiated rental product.

7220 S. Yates sits in the center of one of Chicago's most catalyst-rich submarkets. Within minutes of the property: the Illinois Quantum & Microelectronics Park rising on the former U.S. Steel South Works site, the Obama Presidential Center under construction in Jackson Park, and Regal Mile Studios anchoring South Side film and media production.

This is a defensive, income-driven acquisition for a long-hold private investor seeking predictable cash flow, no near-term capital exposure, and a credible path to outsized yield as the surrounding submarket transforms.

Investment highlights

- 100% CHA Voucher Coverage — Government-backed rent across all six units; zero credit risk

- 8.12% Year 1 CAP Rate on $750,000 ($125,000/unit)

- Fully Gut-Renovated in 2016 — New electric, plumbing, kitchens, baths, windows; minimal near-term cap-ex

- Oversized Units — All ~1,200 SF with separate living/dining, dual sunrooms (4 × 2BR/1BA, 2 × 3BR/1BA)

- ~$7,000 Mark-to-Market Upside Available on Natural Turnover

- Cook County 2027 Reassessment Fully Underwritten — 5-Year Average CAP of 8.11%

- South Side Catalyst Pipeline — Illinois Quantum & Microelectronics Park, Obama Presidential Center, Regal Mile Studios

- One Block to South Shore Cultural Center, Metra & Lake Michigan

Listing Contacts

MN
IL 475.156088, KY 278736
Jameson Commercial Real Estate
Listed by Jameson Commercial Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$59,926.00
$4,993.83/mo

Valuation Metrics

0
DSCR
7.49%
Cap Rate
7.49%
ROI

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Additional Information

Name
Matthew Neistat
License
475.156088
Brokerage
Jameson Sotheby's
Brokerage Phone
847.714.2913
Title
Real Estate Consultant
Brokerage Address
425 West North Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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