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$539,900
Est. payment /mo
10,980 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 10,980 sqft
Price per Sqft $49
MLS Listing ID 12475012
Year Built 1967
Annual Tax Amount $9,481
Tax Year 2023
Lot Size 10,890 Sqft
Lot Dimensions 122X90
Property Sub-Type Multi Family 5+
Property Description
Located in the South Chicago area, this impressive 13-unit California-style building presents a rare opportunity to build significant equity. Each unit offers 1/BED 1 BATH, a separate living and dining room, and a spacious kitchen. While all units require a FULL renovation, upgrading the units with stainless steel appliances, in-unit laundry, and modern fixtures could greatly enhance rental potential to $1200 per unit. Once fully stabilized, the property offers forecasted rental income of $15,600 per month ($187,200 annually). The property features a BRAND-NEW steel porch approved by the City of Chicago in July 2025. There's Additional parking alongside the building. Currently, only 4 of the 13 units are rented. This is a prime opportunity for an investor looking to unlock long-term income in a rapidly evolving location. The building is close to grocery stores, U.S. 41, and public transportation making it highly attractive for future tenants. Property is being sold AS-IS.
Location
State IL
County Cook
Area Chi - South Chicago
Zoning COMMR
Rooms
Basement Walk-Up Access
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Roof Type Rubber
Building
Dwelling Type Multi Family 5+
Structure Type Brick
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Listed by Janina Farr of Coldwell Banker Realty