7801 South South Shore Drive

Chicago, IL 60649

$3,099,000
Price
48
Beds
32
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Attractive 1960's era, 32 unit brick building in great location in booming South Shore. Appealing unit mix of 5 studios, 9-1/1's, 15-2/1's and 3-3/1's. Roof, Porches, Masonry/Tuckpointing, and Electrical work done within last 5-8 yrs. Every unit updated with Bath and Kitchen reno during same period. Laundry in basement area and outdoor parking in rear for 16-20 cars. Located 1/2 block from Rainbow Beach Park and Rainbow Beach on the shore of beautiful Lake Michigan. The CTA 26, 6, 71, and N5 buses...Attractive 1960's era, 32 unit brick building in great location in booming South Shore. Appealing unit mix of 5 studios, 9-1/1's, 15-2/1's and 3-3/1's. Roof, Porches, Masonry/Tuckpointing, and Electrical work done within last 5-8 yrs. Every unit updated with Bath and Kitchen reno during same period. Laundry in basement area and outdoor parking in rear for 16-20 cars. Located 1/2 block from Rainbow Beach Park and Rainbow Beach on the shore of beautiful Lake Michigan. The CTA 26, 6, 71, and N5 buses serve this location with both north and south bound stops at 78th and S. South Shore Dr, and the Metra Line (commuter rail) stop is just a short 2 block walk away. Less than 3 miles to world renowned University of Chicago, the new Obama Presidential Library, and the soon to be renovated Jackson Park Golf course, and less than 11 miles to the center of downtown Chicago. This property was in need of new management to stabilize rents, and they have just hired a new, top notch, management company.
  1. Listed by David McLennan • Pearson Realty Group

Property Details for 7801 South South Shore Drive

Area
CHI - South Shore
LISTING UPDATED: 11/19/2024 01:02 AM

Property Details for 7801 South South Shore Drive

StatusActive
MLS #12209474
Days on Market44
Taxes$37,142 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1961
Lot Size0.39 AC / 16,875 SF
CountyCook County

Building Information for 7801 South South Shore Drive

Stories4Residences32Year Built1961Building Size-Lot Size0.39 AC / 16,875 SF

Property Information for 7801 South South Shore Drive

General Information
Addtl Parking Information
  • Outdoor Parking: 13-18 Spaces,Common Parking,Open,Private Lot,Parking On-Site
Location and General Information
  • Frontage Type: City Street
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers
  • # Of Washers: 3
  • Basement Description: Finished
  • Heat/Ventilation: Central Bldg Heat
  • # Of Refrigerators: 32
  • # Of Dryers: 3
  • Num of Baths: 32.0
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Other
  • Lot Dimensions: 135X125
  • Lot Size Square Feet: 16875.0
  • Stories: 4
  • Exterior Building Type: Brick
  • Construction: Brick, Concrete
  • Fire Protection: Alarm Monitored,Sprinklers
  • # Of Ranges: 32
  • Conversion: N
Property and Assessments
  • Possible Use: Condominium
  • Public Document Count: 0
  • Photos Count: 39
  • Deconversion: N
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 32
Income & Expenses
  • Electric Expense: $7,150.00
  • Fuel Expense: $17,221.00
  • Gross Income: $417,816.00
  • Gross Scheduled Income: $417,816.00
  • Insurance Expense: $14,398.00
  • Maintenance Expense: $3,948.00
  • Manager Expense: $19,010.00
  • Electric Expense Source: Actual
  • Expense Year: 2023
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 12625
  • Manager Expense Source: AC
  • Other Expense Source: Actual
  • Repairs-Decor Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 34818
  • Water Expense Source: Actual
  • Net Operating Income: $228,014.00
  • Operating Expense: $179,246.00
  • Other Expense: $14,825.00
  • Trash Expense: $3,510.00
  • Water Sewer Expense: $15,096.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 5
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 9
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 15
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 3
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 7801 South South Shore Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7801 South South Shore Drive

Taxable ValueLand$15,187Additions$169,515Total$184,702
Tax Record2022$37,990 ($3,166 / month)
Home Facts
Stories4Lot Size16,875 SqFtStyleMulti-Family Res (5+ Units)Year Built1961CountyCOOKAPN21-30-415-028

Schools near 7801 South South Shore Drive

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 6 to 12
Public - 9 to 12
Rating
School
Distance
Powell Elementary Paideia Community Academy
PublicPK to 8

CAMELOT SAFE ACADEMY SCHOOL
Public6 to 12

Excel Academy - Woodlawn HS
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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7801 South South Shore Drive is a multi-family home for sale in Chicago, IL 60649. This property was listed for sale on November 13, 2024 by Pearson Realty Group, it's currently listed at $3,099,000. It has been on the market for a total of 44 days and was last sold on May 2, 2023. This listing's school district is Chicago Public Schools. Nearby schools include Powell Elementary Paideia Community Academy, Chicago Vocational Career Academy High School and CAMELOT SAFE ACADEMY SCHOOL. 7801 South South Shore Drive is a 48-bed, 32-bath, multi-family home built in 1961.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Pearson Realty Group

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 11/19/2024 01:02 AM. 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.