7700 S. Saginaw

Chicago, IL 60649


Sale Price

Property Details

Price SummaryN/A
Number Of Units12
Close Date05/2023

Property Description

Kiser Group is pleased to exclusively present for purchase 7700 S. Saginaw, a unique and turnkey twelve (12) unit apartment building in Chicago's historic and booming South Shore neighborhood. Over the past year, South Shore has seen a resurgence in new developments due to its proximity to Lake Michigan, as well as Chicago’s downtown, most notably with the construction of the Obama Presidential Library. Furthermore, the building sits just two blocks away from the Metra Train Station and walking distance to South Shore’s Rainbow Beach.

7700 S. Saginaw is solely comprised of twelve (12) spacious 2Bd/1Ba units. All twelve (12) units have been renovated with newer hardwood floors, newer bathrooms and kitchens, and individual furnace/hot water tanks. Furthermore, each unit boasts nearly 1,200 square feet of living space and consists of, both, a formal living and dining room, as well as a sunroom adjacent to the living room creating an even larger open living space. Additional improvements to the building include, but are not limited to, an exterior porch system (2017), newly replaced window lintels (2018), new windows, tuckpointing, as well as an abundance masonry work.

7700 S. Saginaw presents an opportunity for an investor to acquire a stabilized, cash flowing asset. From day one, Saginaw's next owner will realize an in-place cap rate above 10% along with a 20.73% cash return. Given the sheer size and quality of the units coupled with its location, current rents are roughly 20% below market. Solely by stabilizing the buildings rent roll and bringing current rents to market rate, there is an opportunity to achieve north of an 11.6% cap rate.

Location Description

South Shore


  • Gut Renovated
  • Individual Furnaces & Hot Water Tanks
  • All 2Bd/1Ba Jumbo Units w/ Living and Dining Rooms
  • Significant Room to Increase Rents


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0.5 Miles 1 Miles 1.5 Miles
Total households 5,282 14,242 27,050
Total population 12,653 34,624 67,176
Population white 0.6% 1.5% 4.4%
Population black 97.3% 95.8% 90.3%
Population hispanic 1.0% 2.6% 7.4%
Population asian 0.1% 0.1% 0.1%
Population pacific islander 0.0% 0.1% 0.1%
Population american indian 0.5% 0.2% 0.2%
Population other 0.6% 1.4% 3.9%
Persons per household 2.4 2.4 2.5
Average household income $34,993 $40,750 $42,196
Average house value $206,938 $205,140 $198,742
Average age 33.6 36.5 35.8
Average age male 27.8 32.4 31.6
Average age female 35.2 38.4 38.4
* Demographic Data Derived From 2020 ACS - US Census