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7251 S South Shore Dr, Chicago, IL 60649
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7251 S South Shore Dr, Chicago, IL 60649
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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LAURA CATHLINA
Senior Managing Director
laura.cathlina@berkadia.com
312.339.5343
RICHARD EVANS
Senior Director
richard.evans@berkadia.com
773.991.3321
License #: 475.127322
PETE EVANS
INVESTMENT SALES
MORTGAGE BANKING
Senior Managing Director
pete.evans@berkadia.com 847.226.0836
License #: 471.014084
CONTACT Us
PHOTO GALLERY
709 SF
239
169,560 SF
1.15 Acres
One High-Rise
22
204 Spaces
Average Unit Size:
Number of Units:
1969
Year Completed:
Total Rentable Area:
Site Size:
Building Type:
Stories:
Parking:
7251 S South Shore Drive Chicago, Illinois 60649
PROPERTY SUMMary
ABUNDANCE OF COMMON AREA SPACE
Secure Online Payments & Maintenance Requests
Fitness Center
On-Site Laundry Center
Walking Distance to Public Parks, Beaches, Golf Courses and More
Easy Access to Public Transportation
Pet Friendly Community with Private Dog Park
Controlled Entry & Security Desk
Secure Garage Parking with Private Access*
Community Room
Business Center
Elevators
Sweeping Views of Chicago Skyline & Lake Michigan
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RESIDENT AMENITIES
Upgraded Kitchen Appliances & Cabinetry*
Full-Size Kitchen Appliances
Built-In Microwave
Pass-Through Serving Bar
Open-Concept Floor Plans
Foyer
Dining Area
Walk-In Closets
Ceiling Fans
Radiant Floor Heating
Additional storage space*
* select units
LUXURIOUS INTERIORS
239-Unit Multifamily Tower Set on 1.15 Valuable Acres of Lake Michigan’s Shoreline
Perfect Location: Nestled Between Rainbow Beach’s Playful Dunes and the South Shore Golf Course and Nature Sanctuary
Unreplicable in Current + Future Market: Spacious Units in a 22-Story Reinforced Concrete High-Rise Building with Panoramic Views
Extraordinary Discount to Replacement Cost
Broad Unit Mix Will Attract All Renter Types: Studios to 3BD, including Desirable Penthouses
7251’s Resident Ratings are Strong: 4 Stars at Google and 4 Stars at Apartments.com
Walk Score®: 71“Very Walkable”
AN IRREPLACEABLE INVESTMENT
PROPERTY HIGHLIGHTS
#3 Highest Job Growth: 3.4%
#3 Highest White Collar Job Growth: 3.7%
White Collar Workers: 71%
3% Population Growth: Projected for 2023-2028 (within 1 mile of 7251)
Median Home Value: $225,999 (1 mile)
$3.4 Billion Consumer Spending (5 miles)
Flourishing Rent Growth: 2.6% (March 2024, YoY) (National: 0.8%)
Permanent Renters: #1 Highest Home Owning Wallet Share of All 25 Chicago Submarkets (77%)
UNDERSUPPLIED: Units Under Construction Down a Massive 44.7% (March 2024, YoY)
#1 Highest Growth in % of Population Living in Multifamily: 6.6%
15.7% Explosive Population Growth from 2020-2024 (within 1/4 mile)
ROBUST RENT PROFILE AND SRONG DEMOGRAPHICS
POWER METRICS @ SOUTH SHORE SUBMARKET
On The Water: The Value of 1.15 Acres on Lake Michigan in Urban Chicago = Immeasurable
7251 Offers Unobstructed Spectacular Shore and Skyline Views
Significant Undersupply of High Quality Apartments to Serve Strong Demand from Rooted Now-High-Income Earners
Vast Value-Add Upside: 125 Deluxe units at $220 average premium / 58 Slim units at $125 average premium
Walkable Prime Public Transportation: 2 Major Metra Stations + 2 Main Bus Lines
3.5 Miles from $500M Obama Foundation Center and Cutting-Edge University of Chicago Life Sciences Research Facility
Rapid Access to Downtown Chicago’s Core Employment Hubs and 31 Fortune 500 HQ Companies
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THE OPPORTUNITY
Visit Doc Center
Download Flyer
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
BACK TO TOP
LAURA CATHLINA
Senior Managing Director
laura.cathlina@berkadia.com
312.339.5343
RICHARD EVANS
Senior Director
richard.evans@berkadia.com
773.991.3321
PETE EVANS
INVESTMENT SALES
MORTGAGE BANKING
Senior Managing Director
pete.evans@berkadia.com
847.226.0836
CONTACT Us
PHOTO GALLERY
PROPERTY SUMMary
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ABUNDANT AMENITIES
LUXURIOUS INTERIORS
AN IRREPLACEABLE INVESTMENT
PROPERTY HIGHLIGHTS
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THE OPPORTUNITY
Opportunity
Highlights
Gallery
Document Center
Terms of Use
Privacy
Contact
QUALITY UNITS • PREMIUM VIEWS
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IN PLACE FINANCING
FAVORABLE ASSUMABLE IN-PLACE FANNIE MAE LOAN
Original Principal: $17,105,000
Closing Date: September 19, 2018
Maturity Date: October 1, 2028
Original Term: 10 years
Interest Rate: 4.76% fixed rate
Interest-Only: 24-Months
Assumption Fee: 1.0%
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