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We're excited to present 7926 S Luella Ave. A six-unit building located in an understated geographical gem, Southshore. Southshore is situated in the center of the southern shores of Lake Michigan, within the second-best city in the world, Chicago, according to the 2022 Time Out index. 7926 S Luella offers ownership not only in 'the most beautiful great city left in the world,' according to renowned architect Frank Lloyd Wright. 7926 S Luella is surrounded by rich oversized Chicago bungalows showcasing architectural history and detailing only developed during the roaring 1920s in Chicago. Southshore and bordering neighborhoods boast good transportation options to downtown, excellent housing stock, and access to the city's most coveted asset, Lake Michigan. This rare blonde brick Southshore gem offers an exceptional location and an opportunity to cash in on an understated status, affordability, and upside mobility that only the 'up-next' southern beach areas of Chicago can. The introduction and development of the Obama Presidential Center, a half-billion-dollar investment in the bordering Woodlawn neighborhood, has sparked interest from investors around the world, ready to cash in on the most significant economic draw to Chicago in nearly a century. That, coupled with the proposal for a PGA qualified Golf Course in Southshore sponsored by Tiger Woods and boat harbors nearby, looks like money in the bank. 7926 S Luella is one of the few examples available in Chicago primed for a condo conversion with onsite laundry, a 5-car garage accessed from a front-facing driveway, with walking access to a hospital close to Lake Michigan. An intelligent investor will quickly see the emerging opportunities for capturing traveling nurses or planning for a condo conversion. 7926 S Luella Ave has (3) 3bd/1ba and (3) 2bd/1ba units, all showcasing hardwood flooring, individual HVAC systems, beautiful natural light, and a driveway connecting to a newly remodeled 5-car brick garage. 7926 S Luella Ave offers the wise investor an excellent opportunity to acquire a cash-flowing asset with a (9%) cap rate. And with good property management, an investor can achieve a cap rate of (11%) and an appreciation of equity and income yet to be seen. According to Crain's Chicago Business, the neighboring Woodlawn community, with more modest housing stock, experienced a 241% increase in median home price from 2020-2022. We cannot begin to predict the appreciation of Chicago's most architecturally robust housing stock located near the southern shores of Lake Michigan.

Property Details of 7926 South Luella Avenue

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Listed by Donald Robinson of Coldwell Banker Realty

Based on information submitted to MRED  as of December 8, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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