7900 South Drexel Avenue

Chicago, IL 60619

$799,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This newly remodeled mixed-use building presents a unique investment opportunity with 14 income-producing units, comprising 6 residential apartments and 8 retail/office storefronts. Residential Units: Total: 6 units Configuration: (5) 1 bed/1 bath units and (1) 2 bed/1 bath unit Retail/Office Storefronts: Total: 8 units Features: Gas, forced heat, and central air Location & Accessibility The property is conveniently located close to Metra 79th St Station Interstate highway Investment Potential Opportunity...This newly remodeled mixed-use building presents a unique investment opportunity with 14 income-producing units, comprising 6 residential apartments and 8 retail/office storefronts. Residential Units: Total: 6 units Configuration: (5) 1 bed/1 bath units and (1) 2 bed/1 bath unit Retail/Office Storefronts: Total: 8 units Features: Gas, forced heat, and central air Location & Accessibility The property is conveniently located close to Metra 79th St Station Interstate highway Investment Potential Opportunity Zone: Situated in an Opportunity Zone, this property qualifies for various city grants, providing additional financial incentives for investors. Community and Amenities: With its prime location, ample amenities, and a strong sense of community, this property is poised for consistent occupancy and income generation. Building Condition: The building violations with the City of Chicago have been mostly cleared, with the exception of four violations that the owner is actively working on resolving. 7900 S Drexel Ave is a strategically located, newly remodeled mixed-use asset offering significant income potential and long-term growth. Its residential and commercial units, combined with the benefits of being in an Opportunity Zone, make it an excellent investment for those seeking robust returns in the Chicago real estate market. Don't miss the chance to capitalize on this prime investment opportunity.
  1. Listed by Anthony Hardy • Keller Williams ONEChicago
  2. Listed by Travis Montgomery • Keller Williams ONEChicago

Property Details for 7900 South Drexel Avenue

Area
CHI - Chatham
Township
Hyde Park
Zoning
OTHER
LISTING UPDATED: 10/27/2024 12:25 AM

Property Details for 7900 South Drexel Avenue

StatusActive
MLS #12152196
Days on Market127
Taxes$21,901 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1925
Lot Size0.18 AC / 7,841 SF
CountyCook County

Building Information for 7900 South Drexel Avenue

Stories2Residences15Year Built1925Lot Size0.18 AC / 7,841 SF

Property Information for 7900 South Drexel Avenue

General Information
Location and General Information
  • Geographic Locale: Chicago South
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air, Central Individual
  • Electric: Circuit Breakers
  • Heat/Ventilation: Forced Air,Gas
  • # Of Refrigerators: 6
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 6
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 56 X 125
  • Lot Size Square Feet: 7841.0
  • Stories: 2
  • Exterior Building Type: Brick, Glass
  • Construction: Brick, Steel Siding
  • Roof Type: Rubber
  • Fire Protection: Fire Extinguisher/s
  • Roof Structure: Flat
  • Building Area Total: 9952
  • # Of Offices: 0
  • # Of Ranges: 6
  • # Of Stores: 9
  • Property Sub Type: Apts/Stores
Property and Assessments
  • Possible Use: Commercial, Office and Research, Multi-Family, Retail, Special Use
  • Public Document Count: 0
  • Photos Count: 18
Miscellaneous
  • Current Use: Special Use
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 15
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Electric Expense Source: Owner Projection
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 0
  • Water Expense Source: Owner Projection
  • Net Operating Income: $97,966.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00

Property History for 7900 South Drexel Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 7900 South Drexel Avenue

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 6 to 12
Charter - K to 8
Rating
School
Distance
Ashe Elementary School
PublicPK to 8

Hirsch Metropolitan High School
Public9 to 12

Gary Comer College Prep
Charter6 to 12

CICS Avalon
CharterK to 8

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.

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7900 South Drexel Avenue is a mixed use property for sale in Chicago, IL 60619. This property was listed for sale on August 30, 2024 by Keller Williams ONEChicago, it's currently listed at $799,000. It has been on the market for a total of 127 days and was last sold on September 12, 2022. This listing's school district is Chicago Public Schools. Nearby schools include Ashe Elementary School, Hirsch Metropolitan High School and Gary Comer College Prep. 7900 South Drexel Avenue is a 0-bed, 0-bath, mixed use property built in 1925.

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 Keller Williams ONEChicago

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 10/27/2024 12:25 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.