7322 S. Kingston, a legal 5-unit located in Chicago's South Shore neighborhood. The subject property comprises five spacious 1 bedroom 1 bath units. The units offer predominantly hardwood floors and standard finishes in the kitchen and bathrooms. The second-floor units have individual furnaces, while the first-floor units have baseboard hot water with individual boilers, resulting in all tenants paying for their separate heat. The property has been maintained on a need-by-need basis, and the porches were replaced in 2018. The rent has not been raised since the property was purchased in 2016. 7322 S. Kingston presents a value-add opportunity to a qualified investor by updating the units with modern finishes and bringing the rents up to market. This has the potential to increase the existing CAP Rate to over 8.5% and a CoC return of 11%. *Note* The pictures show a vacant unit renovated in early 2024. It has remained vacant for showing purposes. This is to give the buyer a vision of what the other units can look like. The other units have not been renovated to this caliber. The Offering Memorandum is available upon request. Please email or call listing agent.
Property Map
Please use the print button to include maps when printing.
Property Details
Utilities
Heating
Cooling Window Unit(s)
Water
Sewer
Additional Information
Payment Calculator
Listing History
03-29-2024
Listed at $380,000
04-17-2024
Status changed to Under Contract
Last Modified 4/17/24 4:36 PM
Nearby Transportation
Bus 71
0.1 mi
Bus 75
0.2 mi
Bus 5
0.2 mi
Bus 95
0.2 mi
Bus 26
0.2 mi
Bus 6
0.2 mi
Bus 15
0.6 mi
Bus J14
0.6 mi
Bus 79
0.7 mi
Bus 67
0.8 mi
Bus 28
1.1 mi
Metra Electric
0.2 mi
I 90 East
1.2 mi
I 90 West
2.4 mi
I 94 West
3.1 mi
I 94 East
3.2 mi
Hwy 57
4.5 mi
I 90 East
4.6 mi
For More Information
(312) 528-9200
For more information about 7322 S Kingston, Chicago, IL 60649 contact Corcoran Urban Real Estate.
Broker Reciprocity
Listing provided by Jameson Commercial
All information provided is deemed reliable but is not guaranteed and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Urban Real Estate are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.