Luella Heights

Located in Chicago's established South Shore neighborhood, 7450 S. Luella Ave offers convenient access to neighborhood shopping, public transportation, and Lake Michigan. The property is just minutes from the South Shore Cultural Center, Rainbow Beach, and Jackson Park, while providing easy connectivity to Downtown Chicago via the Metra Electric District, CTA bus routes, and nearby Lake Shore Drive. The area continues to attract investment due to its strong rental demand, historic housing stock, and proximity to the University of Chicago and the Obama Presidential Center.Real Realty is pleased to present the exclusive offering of Leulla Heights, a mixed-use investment opportunity located along the busy 75th Street retail corridor and surrounded by a strong residential neighborhood near Luella Avenue. The property consists of 13 studio apartments and four commercial storefronts, with two retail spaces currently leased. Apartments are achieving premium rents of $1,000–$1,500 per month, while commercial spaces range from $700–$1,500 per month, depending on size. Leulla Heights offers investors an attractive 10%+ cap rate and a projected 16%+ cash-on-cash return, providing strong in-place cash flow with additional upside potential. The property is supported by solid mechanicals, including a Smith cast-iron boiler installed in 2014 and two 73-gallon hot water tanks installed in 2023. This is a rare opportunity to acquire a true cash-flowing asset with value-add potential.