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$ 685,000
Est. payment /mo
Price Dropped by $20K
7301 S Michigan Avenue Chicago, IL 60619
UPDATED:
12/23/2024 06:07 AM
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12192590
Year Built 1925
Annual Tax Amount $9,327
Tax Year 2023
Lot Dimensions 60X125
Property Description
Everybody wants Chatham, but only a few properties come up for sale that are in the heart of Chatham between State and King Drive. This 8-unit gem has been owned by one family since 1956. Has spacious units with dining rooms and large kitchens. There are 4 - 2 bedroom units and 4- 1bdrm units. Most units have dining rooms. Not found in the average commercial buildings. This property was built for family living. Has 4 car garage and ample rear yard for those lazy summer outdoor activities. Let's talk... This is a great building for a family or for an investor looking to get maximum return on investment. Cause everybody want to live in a community that shows the pride of ownership. Let's be clear, the current rents do not reflect earning potential because of long term tenants. The heirs have decided to give another owner the experience and pleasure of Chatham ownership. A Quiet block, close to schools, shopping and transportation. This is the heart of Chatham. A great place to raise a family or spend your retirement. No problem getting good tenants in this area. Come and see why Chatham is the most desirable far southside community in Chicago. This is an area with long term tenants and owners where neighbors really know each other. Buyers must be pre-qualified. No offer accepted without lender approval . This is not your typical apartment building. This property has been lovingly cared for by one family for more than sixty years. Roof was recently re-coated as part of regular maintenance program. Got a big family? This building is the answer to a prayer. This could be your ticket to generational wealth building.
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling None
Fireplace N
Exterior
Utilities Available Sanitary Sewer, Water-Municipal
View Y/N true
Roof Type Rubber
Building
Foundation Concrete Perimeter
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Joyce Gibson • J.A. Gibson & Associates, Ltd.