Receivership Sale | 50-Unit Multifamily on South Shore Drive

 Tours are available, by appointment only, on Friday, May 22nd from 9:00 AM – 11:00 AM. Please reach out to one of the listing brokers to schedule. Please do not arrive unannounced or disturb tenants.

• 50-Unit Vacant Building, Full Upside: Zero percent occupied — clean slate for renovation, lease-up, and operational repositioning.
• Studio-Heavy Mix Targets Renter Demand: 42 studios and eight 1-bed/1-bath units align with deep South Side demand for affordable formats.
• 33,776 SF on a ±0.46-Acre R4 Parcel: Four-story vintage mid-rise with on-site laundry and R4 zoning supporting multifamily density.
• Blocks from Cheltenham/79th St Metra: Direct Metra commuter rail access connects residents to downtown Chicago, roughly 10 miles north.
• Rainbow Beach and Lakefront Adjacent: Rainbow Beach and Rainbow Beach Park are within walking distance, adding tenant lifestyle appeal.
• Renewed South Shore Investment Activity: Public and private investment along 79th Street and Cottage Grove Avenue drives submarket growth.

Offering Summary

RealINSIGHT Marketplace, in partnership with Frontline Real Estate Partners, is pleased to present 7827 S South Shore Drive, known as the South Beach Apartments, a 50-unit vintage mid-rise apartment building offered through receivership sale in Chicago's South Shore neighborhood. The four-story, 33,776 SF property sits on a ±0.46-acre parcel zoned R4 and features a studio-heavy unit mix of 42 studios and eight 1-bed/1-bath units with on-site laundry facilities. Currently fully vacant, the building presents a compelling value-add opportunity through unit renovations, complete lease-up, and operational efficiencies targeting the neighborhood's deep demand for affordable smaller-format rentals. Located directly off South Shore Drive, approximately 10 miles south of downtown Chicago, the property is just blocks from the Cheltenham/79th Street Metra station and within walking distance of Rainbow Beach Park. With over 139,000 residents within three miles, strong transit infrastructure, and renewed public and private investment along 79th Street and Cottage Grove Avenue, the South Shore submarket continues to attract value-add multifamily capital seeking cash-flow potential on Chicago's South Side.

Auctioneer: Scott Bowers c/o Fisher Auction Company Inc. License: 040000273. Starting Bid: $600,000.