IL > Chicago
Chicago, IL 60649,7200 S Stony Island AVE
Chicago, IL 60649,7200 S Stony Island AVE
Chicago, IL 60649,7200 S Stony Island AVE
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$3,300,000
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0.28 Acres Lot
Active

7200 S Stony Island AVE Chicago, IL 60649

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Dennis & Karen

Dennis & Karen

+1(219) 213-3346

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12525661

Maintenance Fees $12,000

Year Built 1898

Annual Tax Amount $52,726

Tax Year 2024

Lot Size 0.280 Acres

Lot Dimensions 75x175

Property Sub-Type Multi Family 5+

Property Description

Presenting 7200-02 S. Stony Island Avenue, a 24-unit multifamily investment opportunity located in the rapidly appreciating South Shore neighborhood of Chicago. This stately brick walk-up offers a highly desirable unit mix of twelve (12) spacious 2 bed / 1 bath and twelve (12) 1 bed / 1 bath apartments. The property has been meticulously maintained with significant capital improvements, blending modern upgrades with timeless vintage character. Each unit features expansive floor plans, large living rooms, generous bedroom sizes, and abundant natural light. Interior renovations include condo-quality finishes such as stainless steel appliances, in-unit laundry, updated kitchens and baths, and beautifully refinished hardwood flooring. All apartments are equipped with individual HVAC and hot water tanks, reducing owner operating costs. Building-level improvements include updated electrical and plumbing systems, a newer steel rear porch, extensive masonry and tuckpointing work, freshly painted exterior, keyless entry and intercom system installed, new wrought iron gate, security cameras, new doors throughout, and freshly updated interior hallways. South Shore continues to benefit from transformative public and private investment, including the nearby Obama Presidential Center and major infrastructure upgrades. Since ownership acquired the property, beyond the capital improvements, they have increased the current rents significantly. 7200-02 S. Stony Island offers investors the opportunity to acquire a stabilized, cash-flowing asset in its current condition. A new owner can realize modest rent increases and achieve a 7.42 cap rate, providing strong cash-on-cash returns for years to come.

Location

State IL

County Cook

Area Chi - South Shore

Zoning MULTI

Interior

Cooling Window Unit(s)

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Midwest Real Estate Data (MRED) IDX
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Harrison Cohen of  Triton Realty Group LLC 

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Dennis & Karen

Dennis & Karen

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+1(219) 213-3346

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7200 S Stony Island AVE

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