7926 South Luella Avenue

Chicago, IL 60617

$775,000
Price
15
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Excited to present 7926 S Luella Ave, a six-unit building in South Shore - one of Chicago's emerging lakefront neighborhoods experiencing a remarkable renaissance. South Shore's strategic location along Lake Michigan's southern shoreline places it at the epicenter of unprecedented development and investment opportunities. This blonde brick beauty stands proudly among South Shore's collection of historic Chicago bungalows, showcasing the magnificent architectural detailing of 1920s craftsmanship....Excited to present 7926 S Luella Ave, a six-unit building in South Shore - one of Chicago's emerging lakefront neighborhoods experiencing a remarkable renaissance. South Shore's strategic location along Lake Michigan's southern shoreline places it at the epicenter of unprecedented development and investment opportunities. This blonde brick beauty stands proudly among South Shore's collection of historic Chicago bungalows, showcasing the magnificent architectural detailing of 1920s craftsmanship. The property's location offers seamless connectivity to downtown while providing residents the coveted advantage of lakefront living. The neighborhood's transformation is being catalyzed by several major developments: - The Obama Presidential Center, now under construction in neighboring Woodlawn, driving significant economic growth - The upcoming Tiger Woods-designed PGA-caliber golf course renovation of the Jackson Park/South Shore golf complex - Proposed enhancement of the nearby harbor facilities - The recently announced urban planning initiatives focusing on South Shore's commercial corridors 7926 S Luella Ave features: - (3) 3bd/1ba and (3) 2bd/1ba units - Original hardwood flooring throughout - Individual HVAC systems - Abundant natural light - Newly remodeled 5-car brick garage with front driveway access - On-site laundry facilities - Walking distance to hospital and lakefront The property presents multiple value-add opportunities: -Good Cap rate - Prime candidate for condo conversion - Ideal for healthcare professional housing, capturing the growing market of traveling medical staff - Strong potential for appreciation As South Shore continues its upward trajectory, bolstered by major infrastructure investments and its pristine housing stock, 7926 S Luella Ave represents an exceptional opportunity to invest in one of Chicago's most promising lakefront communities. The combination of stable cash flow, multiple value-add scenarios, and the neighborhood's evident momentum makes this an compelling investment opportunity.
  1. Listed by Brittany Ramsey • Coldwell Banker Realty

Property Details for 7926 South Luella Avenue

Area
CHI - South Chicago
Township
Hyde Park
Num of Interior Fireplaces
0
Zoning
MULTI
LISTING UPDATED: 12/05/2024 12:06 AM

Property Details for 7926 South Luella Avenue

StatusActive
MLS #12216017
Days on Market23
Taxes$3,800 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance
Year Built1929
Lot Size0.14 AC / 6,250 SF
CountyCook County

Building Information for 7926 South Luella Avenue

Stories3Residences6Year Built1929Building Size-Lot Size0.14 AC / 6,250 SF

Property Information for 7926 South Luella Avenue

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
Location and General Information
  • Frontage Type: City Street
  • Information: Short Notice OK,No Sign on Property
Taxes and HOA Information
  • Association Fee Includes: None
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: None
  • Electric: Circuit Breakers, Separate Meters
  • # Of Washers: 1
  • Basement Description: Unfinished
  • Heat/Ventilation: Forced Air,Individual Furnaces
  • # Of Window/Ac: 0
  • # Of Refrigerators: 6
  • Washer/Dryer Lsd: Yes
  • Misc Inside: Laundry Room
  • # Of Dryers: 1
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 6.0
Exterior Features
  • Misc Outside: Enclosed Stairs,Security Lighting
Utilities / Equipment
  • Utilities: Sanitary Sewer, Water-Municipal, Cable Available
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Exterior Entrance
  • Lot Dimensions: 50*125
  • Lot Size Square Feet: 6250.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Type: Membrane
  • Fire Protection: Smoke or Fire Protectors,Carbon Monoxide Detector(s)
  • Roof Structure: Flat
  • Foundation Details: Brick/Mortar, Concrete Perimeter
  • Building Area Total: 6000
  • # Of Ranges: 6
  • Conversion: N
  • MRD_UNC: Yes
Property and Assessments
  • Possible Use: Multi-Family
  • Buyer Financing: Conventional
  • Public Document Count: 0
  • Photos Count: 15
  • Deconversion: N
  • OpenHouse Count: 1
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Curbs and Gutters,Lighting/Exterior,Sidewalks
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $380.00
  • Fuel Expense: $1,250.00
  • Gross Income: $8,470.00
  • Gross Scheduled Income: $101,640.00
  • Insurance Expense: $4,818.00
  • Maintenance Expense: $35,000.00
  • Electric Expense Source: Combination
  • Expense Year: 2021
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Combination
  • Insurance Expense Source: Combination
  • Janitor Expense: 840
  • Manager Expense Source: CO
  • Repairs-Decor Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 8470
  • Water Expense Source: Actual
  • Net Operating Income: $59,893.00
  • Operating Expense: $15,265.00
  • Other Expense: $.00
  • Trash Expense: $2,400.00
  • Water Sewer Expense: $4,800.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 3
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 3
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
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 7926 South Luella Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 7926 South Luella Avenue

Taxable ValueLand$7,812Additions$18,187Total$25,999
Tax Record2022$5,348 ($446 / month)
Home Facts
Baths6Total Finished SqFt5,988 SqFtAbove Grade Finished SqFt5,988 SqFtStories3Lot Size6,250 SqFtStyleMulti-Family Res (5+ Units)Year Built1929CountyCOOKAPN20-36-204-025Fireplace TypeHas Fireplace

Schools near 7926 South Luella Avenue

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

YCCS-Sullivan House Alt HS
Charter9 to 12

South Shore Intl Col Prep High School
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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7926 South Luella Avenue is a multi-family home for sale in Chicago, IL 60617. This property was listed for sale on November 29, 2024 by Coldwell Banker Realty, it's currently listed at $775,000. It has been on the market for a total of 23 days and was last sold on December 30, 2022. This listing's school district is Chicago Public Schools. Nearby schools include Mann Elementary School, Chicago Vocational Career Academy High School and YCCS-Sullivan House Alt HS. 7926 South Luella Avenue is a 15-bed, 6-bath, multi-family home built in 1929.

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 Coldwell Banker Realty

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 12/05/2024 12:06 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.