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$ 489,800
Est. payment | /mo
8 Beds
4 Baths
$ 489,800
Est. payment | /mo
8 Beds
4 Baths
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12734871
Bedrooms 8
Year Built 1898
Annual Tax Amount $1,092
Tax Year 2025
Lot Dimensions 25x125
Property Sub-Type Two to Four Units
Property Description
Calling all HOUSE HACKERS, OWNER-OCCUPANTS & INVESTORS! This legal 3-unit in South Chicago has been completely gut rehabbed, offering the opportunity to step into a finished multifamily property without taking on a renovation project. Live in one unit while generating income from the others or lease all three and add a turnkey property to your rental portfolio. The property features (2) 2-bedroom/1-bath units and (1) spacious 4-bedroom/2-bath unit, totaling 8 bedrooms and 4 bathrooms. Based on projected rents of approximately $1,700/month for each 2-bedroom unit and $2,900/month for the 4-bedroom unit, the property has the potential to generate approximately $6,300/month or $75,600 annually in rental income when fully leased. Immediate equity in the property. Appraised over asking. Projected rents are estimates and should be independently verified by the buyer. The extensive gut renovation includes new electrical, new plumbing, a new HVAC system with central air conditioning, new kitchens and bathrooms, updated flooring and a new rear porch. Kitchens feature a modern two-tone design with white upper cabinetry, black lower cabinetry, granite countertops and stainless-steel appliances. The property is a legal 3-unit with separately metered units. There is also potential to generate income beyond the three residential units. The basement includes three separate storage spaces that could potentially be rented, along with a laundry hookup allowing the next owner to add coin-operated laundry for tenant use. The rear parking pad provides off-street parking and another potential source of income. Beyond the property, South Chicago is in the midst of significant reinvestment and transformation, with major residential, commercial, healthcare and technology projects moving forward throughout the area. Thrive Exchange represents approximately $100 million in community investment around the 79th and Exchange corridor, bringing new housing, homeownership opportunities, retail, healthcare and other neighborhood improvements. The SACRED development at 92nd and Burley is adding 81 apartments, approximately 6,000 square feet of commercial space and additional parking. One of the largest transformations is underway along the South Chicago lakefront at the former U.S. Steel South Works site. The 440-acre Quantum Shore master plan includes the 128-acre Illinois Quantum & Microelectronics Park, with major public and private investment aimed at creating a new technology and innovation district along the lakefront. Adding to that investment, Advocate Health Care has broken ground on a new $300 million state-of-the-art hospital at the former South Works site as part of its broader $1 billion investment in healthcare across Chicago's South Side. The new hospital is planned to provide inpatient, emergency and specialty care and is expected to open in 2029. Together with the quantum campus, new housing, commercial development and other neighborhood investments, these projects represent a substantial long-term commitment to the continued redevelopment of South Chicago. Residents also have convenient access to Rainbow Beach, the lakefront, Metra, public transportation, neighborhood amenities and major roadways. For a house hacker, this is an opportunity to live in one unit while income from the remaining units helps reduce housing costs. For an investor, the property offers three residential income streams plus additional revenue potential through storage, laundry and parking-all within a completely renovated legal 3-unit in a neighborhood experiencing significant ongoing investment.
Location
State IL
County Cook
Area Chi - South Chicago
Zoning MULTI
Rooms
Basement Unfinished, Full
Interior
Heating Gas, Electric
Fireplace N
Building
Dwelling Type Two to Four Units
Building Description Aluminum Siding,Vinyl Siding, No
Sewer Public Sewer
Water Public
Structure Type Aluminum Siding,Vinyl Siding
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Shuatequa Johnson of Realty of America, LLC
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