7854 S South Shore Dr
Condo Deconversion | South Shore | 60 Units
Marketing description
33 Realty is pleased to present for sale, as a de-conversion opportunity, 7854 S South Shore Drive, a 60-unit elevator building located in Chicago's South Shore neighborhood.
Built in 1974, the property consists of 13 studio/one-bathroom units, 31 one-bedroom/one-bathroom units, and 16 two-bedroom/two-bathroom units. Amenities include an elevator, on-site laundry, and individual electric metering. The property is situated near Rainbow Beach, offering residents convenient access to the lakefront.
7854 S South Shore Drive presents an excellent opportunity to add value by bringing the consistency and efficiency of a single ownership group to the property. With rents believed to be below market, a new owner has strong potential to push rents as units become available.
Investment highlights
- 60-unit elevator building
- De-conversion opportunity
- 13 studios, 31 one-bedroom, and 16 two-bedroom units
- Individual electric metering
- On-site laundry
- Steps from Rainbow Beach and the lakefront
- South Shore neighborhood
- Rents below market with potential to push to market levels
- Single ownership opportunity to improve operational efficiency
- Paved Parking Lot
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