7931 South Manistee Avenue
7931 South Manistee Avenue
$635,000
21
7
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Description
7931 s. Manistee is a seven (7) unit building in Chicago's historic South Shore neighborhood. Nestled on a one-way, tree lined street, the building sits within walking distance to an abundance of public transportation options, Lake Michigan, and Rainbow Beach Park. Over the past few years, South Shore has seen a wealth of new developments due to its proximity to Lake Michigan, the upcoming and developing Obama Presidential Library, along with $100 million project located at 79th & Exchange, Thrive...7931 s. Manistee is a seven (7) unit building in Chicago's historic South Shore neighborhood. Nestled on a one-way, tree lined street, the building sits within walking distance to an abundance of public transportation options, Lake Michigan, and Rainbow Beach Park. Over the past few years, South Shore has seen a wealth of new developments due to its proximity to Lake Michigan, the upcoming and developing Obama Presidential Library, along with $100 million project located at 79th & Exchange, Thrive Exchange, located just two (2) blocks away from the subject property. 7931 S. Manistee has an incredibly desirable unit mix comprised of seven (7) 3bd/1ba units. Each unit features hardwood floors and spacious floor plans with separate living and dining rooms. Recent improvements to the building include, but are not limited to: copper plumbing, modern boiler with R&D control system, an abundance of masonry & tuckpointing work, along with newer windows. 7931 S. Manistee presents an investor with the opportunity to acquire a stabilized, cash flowing building with a significant value-add component. At list price, the building performs at a 9.2% cap rate. However, solely by raising rents to current market rate levels, an investor could achieve an 11.37% cap rate and cash return of nearly 22%.
- Listed by Aaron Sklar • Kiser Group Realty Inc
- Listed by Noah Birk • Kiser Group Realty Inc
Property Details for 7931 South Manistee Avenue
Area
CHI - South Chicago
Location
LISTING UPDATED: 03/19/2024 12:42 PM
Property Details for 7931 South Manistee Avenue
Status | Active |
---|---|
MLS # | 11962843 |
Days on Market | 131 |
Taxes | $8,342 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Multi Family 5+-Garden Complex |
Year Built | 1926 |
Lot Size | 0.14 AC / 6,200 SF |
County | Cook County |
Location
Building Information for 7931 South Manistee Avenue
Stories-Residences7Year Built1926Building Size-Lot Size0.14 AC / 6,200 SF
Payment Calculator
$4,161 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 7931 South Manistee Avenue
Property History for 7931 South Manistee Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 7931 South Manistee Avenue
Taxable ValueLand$5,580Additions$34,979Total$40,559
Tax Record2022$8,342 ($695 / month)
Home Facts
Baths6Total Finished SqFt9,330 SqFtAbove Grade Finished SqFt9,330 SqFtStories3Lot Size6,200 SqFtStyleMulti-Family Res (5+ Units)Year Built1926CountyCOOKAPN21-31-107-014
Schools near 7931 South Manistee Avenue
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | 4 to 12 | |||
Charter - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Bradwell Community Arts & Sci Elementary School PublicPK to 8 | ||
Chicago Vocational Career Academy High School Public9 to 12 | ||
CAMELOT SAFE ACADEMY SCHOOL Public4 to 12 | ||
Epic Academy High School Charter9 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.
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