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0 Beds
6,000 sqft

$742,500

7926 S Luella Avenue, Chicago IL, 60617

Price per sqft$123.75
Built in1929
Property size6,000 sqft
Property typeMulti-family
Bought with Nina Gaspich with Century 21 Universal and Listed by Brittany Ramsey with Coldwell Banker Realty 313-303-2483

Overview

Sold

Closed

Listed Nov 29, 2024

Updated May 29

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.

Additional information

MLS® ID
12216017

Interior Features

Bedrooms
0
Basement
Yes

Exterior Features

Lot Size
0.14 Acres

Other Property Details

Taxes
$3,800
Tax Frequency
Annually
Maintenance Expense
$35,000
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Bought with Nina Gaspich with Century 21 Universal and Listed by Brittany Ramsey with Coldwell Banker Realty 313-303-2483

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Blue Door Dave Real Estate are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

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