Essex Three-Twelve Lists 12-Unit Courtyard Building in South Shore
CHICAGO, ILLINOIS– Chicago-based multifamily brokerage firm Essex Three-Twelve, LLC has been exclusively engaged to market for sale 7150 S. Cornell, a 12-unit apartment building located in the heart of Chicago’s popular South Shore neighborhood.
The property is a well-maintained courtyard building that showcases true pride in ownership since acquiring. The property features six spacious studio apartments and six large one-bedroom units, providing a strong unit mix for both stability and rent growth.
7150 S Cornell has benefited from significant recent improvements including, but not limited to, a complete tear-off roof completed in 2022, the installation of a new 100- gallon hot water tank in 2022, and an upgraded 600-amp electrical service, all of which provide long-term durability and reduced capital expenditures. Each unit is equipped with gas-forced heating.
South Shore is bounded by 67th Street to the north, 79th Street to the south, Stony Island Avenue to the west and Lake Michigan to the east. The proximity to Lake Shore Drive and the South Shore Metra station make this area accessible for downtown commuters. Several highly anticipated projects, including the Obama Presidential Center, will provide a world-class museum and public gathering space for residents and tourists.
This listing presents a tremendous opportunity for a new owner to add laundry facilities, storage units, and two potential garden units, which would enhance both the property’s income and its overall value. With its strong existing operations, and clear value-add opportunities, this presents an excellent investment opportunity in one of Chicago’s most historic and accessible lakefront communities.
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About Essex Three-Twelve:
Essex Three-Twelve is Chicago’s first multi-family brokerage company focusing exclusively on servicing investors in the 3-to-12-unit market. Essex Three-Twelve brokers are highly trained, exceptionally focused, and extremely motivated. Whether clients are seasoned investors or new to the multi-family world, the team provides tailored service and market insights needed to help achieve real estate investment goals.