Portfolio of 2 Multifamily Properties For Sale

Presented by Tony Magnone with the Weinberg Choi Residential Team at Keller Williams ONEChicago

Keller Williams ONEChicago is pleased to present the opportunity to acquire a 12-unit multifamily portfolio located at 7831–7835 S. Kingston Avenue and 7839–7841 S. Kingston Avenue, in the heart of Chicago’s historic South Shore neighborhood. This offering features two adjacent 6-unit brick walk-up buildings situated on quiet, tree-lined residential blocks just minutes from Lake Michigan. The portfolio is offered at a purchase price of $1,365,000, representing an attractive basis for stabilized multifamily assets with strong value-add potential.

Property Overview

The Kingston Avenue Portfolio consists of (12) total units, including (4) three-bedroom / one-bathroom units averaging $1,463 per month and (8) two-bedroom / one-bathroom units averaging $1,278 per month. The buildings are well maintained, with a classic Chicago brick exterior, individual unit utilities, and spacious floorplans featuring hardwood floors, formal dining rooms, and abundant natural light.

The properties have a current average rent of $1.82 per square foot, generating a net operating income (NOI) of $94,318, and a gross rent multiplier (GRM) of 7.08. Both properties are professionally managed and have benefited from consistent occupancy, providing investors with stable in-place income and low turnover.

Location Overview

Located in Chicago’s South Shore neighborhood, the Kingston Avenue Portfolio is positioned within one of the city’s most active corridors for reinvestment and redevelopment. The neighborhood offers convenient access to Lake Michigan, Rainbow Beach Park, the South Shore Cultural Center, and the Jackson Park Highlands Historic District.

The properties are less than 10 minutes from the future Obama Presidential Center, which is expected to serve as a major economic catalyst for the South Side, creating thousands of jobs and attracting new residents and retail investment to the surrounding area. Nearby public transportation options include the Metra Electric Line and multiple CTA bus routes, providing direct access to Downtown Chicago.

This location benefits from proximity to major institutions such as the University of Chicago, Jackson Park Hospital, and South Shore Hospital, further supporting tenant demand and long-term rental stability.