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Listing provided courtesy of Pearson Realty GroupMREDas Distributed by MLSGrid- MLS# 12579441MLS Provider

7801 S South Shore DriveChicago, IL 60649

Commercial · 6 Beds
$2,895,000 Active

7801 S South Shore Drive Overview

Time on Site:
122 days
Visits:
1

PRICE REDUCED for this attractive 1960's era, 32 unit brick building in great location in booming South Shore. Appealing unit mix of 4 studios, 10-1/1's, 15-2/1's and 3-3/1's. Roof, Porches, Masonry/Tuckpointing, and Electrical work done within last 5-8 yrs. Every unit updated with Bath and Kitchen reno during same period. Laundry in basement area and outdoor parking in rear for 16-20 cars. Located 1/2 block from Rainbow Beach Park and Rainbow Beach on the shore of beautiful Lake Michigan. The CTA 26, 6, 71, and N5 buses serve this location with both north and south bound stops at 78th and S. South Shore Dr, and it's just a short 2 block walk to the Metra Line (commuter rail) stop. Less than 3 miles to world renowned University of Chicago, the new Obama Presidential Library, the soon to be renovated Jackson Park Golf course, and just 9 blocks from the Campus of the soon to be built, 1 million s.f. Illinois Quantum and Microelectronics Park. Also, less than 11 miles to the center of downtown Chicago. New property management is in place and is working to stabilize rents. There is an ASSUMABLE loan in place at an attractive rate and it will not adjust until 12-1-28, at which time it will float off SOFR.

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7801 S South Shore Drive Facts & Features

  • Type Commercial

Details

General

Income/Expenses

  • Other Expense: 14825
  • Electric Expense: 7150
  • Fuel Expense: 17221
  • Gross Income: 428184
  • Gross Scheduled Income: 428184
  • Insurance Expense: 14398
  • Maintenance Expense: 3948
  • Net Operating Income: 214817
  • Operating Expense: 191673
  • Trash Expense: 3510
  • Water Sewer Expense: 15096

Building Information

  • Year Built: 1961

Business Information

  • Current Use: Multi-Family

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - South Shore

Rent/Lease Information

  • Tenant Pays: Electricity

Tax Information

  • Tax Annual Amount: $39,110.00
  • Tax Year: 2023

General Information

  • Parcel Number: 21304150280000
  • Possible Use: Condominium
  • Property Type: Commercial Sale

Interior

General Information

  • Basement: Finished
  • Cooling: Window Unit(s)
  • Electric: Circuit Breakers
  • Stories: 4

Exterior

Lot Information

  • Additional Parcels: No
  • Frontage Type: City Street
  • Lot Size Dimensions: 135X125
  • Lot Size Square Feet: 16875

Building Exterior/Construction

  • Construction Materials: Brick, Concrete

General Information

  • Number Of Units Total: 32

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Beds Total: 0
  • Baths Total: 1
  • Units Total: 4

Unit 2 Details

  • Unit Type: Unit 2
  • Beds Total: 1
  • Baths Total: 1
  • Units Total: 10

Unit 3 Details

  • Unit Type: Unit 3
  • Beds Total: 2
  • Baths Total: 1
  • Units Total: 15

Unit 4 Details

  • Unit Type: Unit 4
  • Beds Total: 3
  • Baths Total: 1
  • Units Total: 3

Unit 5 Details

  • Unit Type: Unit 5
  • Beds Total: 0
  • Units Total: 0

Unit 6 Details

  • Unit Type: Unit 6
  • Beds Total: 0
  • Units Total: 0

Unit 7 Details

  • Unit Type: Unit 7
  • Beds Total: 0
  • Units Total: 0

7801 S South Shore Drive Neighborhood

Community

60649 (Chicago) Demographics

38
Median Age
11,999
Population Density (per sq. mile)
35%
College Educated
$36,130
Estimated Median Income
5,387
Estimated Total Home Owners
16,947
Estimated Total Renters
24% / 76%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

7801 S South Shore Drive Monthly Cost

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Randall Fowlkes
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

7801 S South Shore Drive Market Data

Based on the last 30 days in this zip code

$194,506
Average List Price
$134
Average Price per Square Foot
12
Properties Sold
66
Average Days on Market
134
Properties for Sale
Calculations provided by Reliance Network

7801 S South Shore Drive History

Date Event Value Agent
3/4/2026Source: MRED Status Change
Active
2/27/2026Source: MRED Added to Database
February 27, 2026