REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Pamela Raver

pam.raverteam@gmail.com +1(630) 277-7805

$ 750,250

Est. payment | -/mo

8 Beds

6 Baths

Save

$ 750,250

Est. payment | -/mo

Save

8 Beds

6 Baths

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12676628

Bedrooms 8

Year Built 1894

Annual Tax Amount $7,053

Tax Year 2024

Lot Dimensions 3,225 square feet

Property Sub-Type Two to Four Units

Property Description

Exceptional investment opportunity in the heart of Woodlawn! This fully occupied, income-producing 3-unit building offers a rare combination of strong cash flow, modern amenities, and significant future upside. Currently generating $5,931 per month in rental income with below-market rents (3rd floor tenant vacating in July), the property presents an excellent opportunity for increased revenue through future rent adjustments. Renovated in 2018, the building features an attractive unit mix of two spacious 2-bedroom, 2-bathroom units (2nd floor includes bonus room) and one oversized 3-bedroom, 2-bathroom unit. Each apartment is equipped with central air conditioning, in-unit washer and dryer, and separately metered utilities; tenants pay all utilities except water which minimizes operating expenses for ownership. Additional features include a detached 2-car garage, security camera system, and a private backyard entertainment area ideal for gatherings and outdoor enjoyment. The full unfinished basement offers exceptional value-add potential and may be suitable for a duplex-down conversion or additional dwelling unit (ADU), subject to zoning and city approval. Ideally situated within walking distance of the transformative Obama Presidential Center development, the property is positioned to benefit from continued neighborhood investment, rising property values, and growing rental demand. Convenient access to public transportation, parks, shopping, restaurants, and the University of Chicago further enhances its appeal. Whether you're seeking a turnkey investment with immediate income or a value-add asset with future expansion potential, this property delivers both stability and opportunity in one of Chicago's most rapidly evolving neighborhoods. ***Property is Agent Owned

Location

State IL

County Cook

Area Chi - Woodlawn

Rooms

Basement Unfinished, Full

Interior

Heating Natural Gas

Fireplace N

Exterior

Exterior Feature Fire Pit

Garage Spaces 2.0

View Water

Building

Dwelling Type Two to Four Units

Building Description Brick,Stone, No

Sewer Public Sewer

Water Public

Structure Type Brick,Stone

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Brandon Williams of L. Upshaw Realty

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(630) 277-7805

pam.raverteam@gmail.com

6504 S Maryland AVE Chicago, IL 60637