Price Reduced Listing
$760,000
( $126.67Per Sq Foot )
 $4,080 est/mo Sourced by Back At You

7926 S Luella Avenue , Chicago, IL 60617

Chicago, IL 60617

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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.

Details

MLS#12216017
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1929
Days On Site77
Listing Provided ByColdwell Banker Realty | Brittany Ramsey

Features

SQ Feet6,000
Story(s)3
Units6
ZoningMULTI

Market Activity 60617

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Listings Checked: 6 minutes ago
StateIL
CountyCook
CityChicago
Zip Code60617
AreaCHI South Chicago
Listing VS Median (in 60617)
Price:
$760,000
low | high
Med:
$199,900
100% of Average
SqFt:
6,000
low | high
Med:
1,200
100% of Average
$ / SqFt:
$127
low | high
Med:
$167
18.486842105263% of Average
On Site:
77
low | high
Med:
35
100% of Average
Sourced by Back At You
Listing Updated: February 9, 2025 at 1:23:45 PM PST