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$ 950,000
Est. payment | /mo
0.25 Acres Lot
$ 950,000
Est. payment | /mo
0.25 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12555384
Maintenance Fees $1,321
Year Built 1927
Annual Tax Amount $17,619
Tax Year 2024
Lot Size 10,890 Sqft
Lot Dimensions 140x80
Property Sub-Type Multi Family 5+
Property Description
Rare opportunity to acquire a large multifamily apartment building in Chicago's Auburn Park neighborhood. This three-story, 12-bedroom property offers approximately 16,152 square feet of living area on an oversized 11,200 SF lot, zoned RT-4, providing strong density and long-term redevelopment or value-add potential 500 W 78TH ST CHICAGO IL 60620. The building has been owned by the same owner for over 30 years and is currently vacant, allowing a new owner full flexibility to reposition, renovate, or re-tenant based on their strategy. With its scale and layout, the property is well-suited for investors seeking a full renovation project, long-term hold, or portfolio expansion in a neighborhood with continued demand for rental housing. Public records reflect solid underlying land and improvement value, significant equity, and a location outside of high-risk flood zones. The property sits on a quiet residential block while remaining accessible to major streets, public transportation, and nearby amenities.
Location
State IL
County Cook
Area Chi - Greater Grand Crossing
Zoning MULTI
Rooms
Basement Unfinished
Interior
Cooling None
Fireplace N
Building
Dwelling Type Multi Family 5+
Structure Type Brick
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Sims of Sims Commercial Real Estate Inc
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