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7926 S Luella Avenue

Chicago, IL 60617
  • $760,000
  • STATUS: Active
  • ON SITE: 71 Days
  • MLS #: 12216017
Price Reduced
UPDATED: 227 min ago
$760,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1929
County:
Area:

School Ratings & Info

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. 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.

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© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-08T23:58:15.737 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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7926 S Luella Avenue Chicago, IL 60617

  • Price: $760,000
  • Status: Active
  • On Site: 71 Days
  • Updated: 227 min ago
  • MLS #: 12216017
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1929
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Property 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. 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.
Exterior Features

Exterior Building Type Brick Foundation Details Brick/MortarConcrete Perimeter Frontage Type City Street Land Amenities Curbs and GuttersLighting/ExteriorSidewalks Roof Membrane Roof Structure Flat

Interior Features

Basement Unfinished Cooling None Fireplaces Total 0 Heat Ventilation Forced AirIndividual Furnaces Miscellaneous Inside Laundry Room Number Of Dishwashers 0 Number Of Dryers 1 Number Of Ranges 6 Number Of Washers 1

Property Features

Additional Parcels YN No Approximate Age Older Association Fee Includes None Building Area Total 6000 Built Before1978 YN Yes Current Use Multi-Family Electric Circuit BreakersSeparate Meters Fire Protection Smoke or Fire ProtectorsCarbon Monoxide Detector(s) Gross Income 8470 Gross Scheduled Income 101640 Insurance Expense 4818 Maintenance Expense 35000 Mls Actual Status Price Change Net Operating Income 59893 Operating Expense 15265 Ownership Types Limited Partnership Possible Use Multi-Family Seller Needs Cash Tax Annual Amount 3800 Tax Year 2023 Tenant Pays ElectricityHeat Total Monthly Income 8470 Township Hyde Park Type Multi Family 5+ Utilities Sanitary SewerWater-MunicipalCable Available Zoning MULTI

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of Coldwell Banker Realty: 312-981-5500.


© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-08T23:58:15.737 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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