Property Details

Property Description

Kiser Group has been exclusively engaged to market for sale 7600-02 N. Sheridan, a 33-unit brick walk-up building. The property is located in Chicago's Rogers Park neighborhood and is just 0.1 miles from Lake Michigan and Howard Beach. Situated in a highly walkable location with easy access to CTA Red, Yellow and Purple lines, equidistant to both Jarvis and Howard stops (0.4 miles), as well as several bus stops.

7600-02 N. Sheridan is comprised of nine (9) studios, twenty (20) 1 bed / 1 bath units, two (2) 2 bed / 1 bath units, and two (2) 2 bed / 1.5 bath units. Since 2018, ownership has renovated 28 of the 33 apartments and updated common area hallways with carpeting, modern gray paint, chair rail and on-trend light fixtures. The units now feature modern finishes in kitchens and bathrooms with stainless steel appliances, granite or quartz counter-tops, and vinyl or hardwood floors. Additionally, the boiler was replaced in 2021, hot water tanks were replaced in 2019 and ownership completed a major tuckpointing project in 2019.

This deal provides a new owner with the opportunity to acquire a transit-oriented asset with updated building systems, renovated units, and just the right amount of value-add. New ownership is guaranteed a property in a location that will always be sought after in a continuously changing market.

Location Description

Rogers Park is located 10 miles from downtown and is the furthest north side neighborhood in Chicago. With Lake Michigan to its east, Rogers Park spans from Devon Avenue to the south, Ridge Avenue to the west and Howard Street to the north. The area is home to Loyola University Chicago, multiple CTA Red Line stops, and is one of the most diverse neighborhoods in the city.

Loyola University Chicago is an economic driver for Rogers Park with 11,919 undergraduate students. For the past three years, Loyola’s incoming first-year class has continued to break the record for the school’s largest class. The large student body population is driving restaurant and local amenity developments. Multifamily development has increased in this neighborhood, including luxury apartments like The Morgan, 415 Premier Apartments, and Albion at Loyola Station.

Residents have ample assess to public transportation and recreation. The CTA Red Line stops include Howard, Jarvis, Morse, and Loyola. In 2013, the Loyola stop underwent a $17 million renovation that included a plaza. Bus Routes include the #22 (Clark) and #147 (Outer Drive Express). With over one mile of publicly accessible beaches, residents enjoy the natural amenity and beauty of Lake Michigan.

Highlights

• 33-unit walkup building with studio, one bedroom, and two bedroom apartments
• 28 out of 33 units have been updated with modern finishes since 2018
• Positioned 0.1 miles from Lake Michigan and Howard Beach
• 0.4 miles from the Howard Red, Yellow and Purple Lines and 0.4 miles from the Jarvis CTA Station

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