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$ 705,000

Est. payment -/mo

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7301 S Michigan AVE Chicago, IL 60619

UPDATED:

10/19/2024 09:15 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12192590

Maintenance Fees $2,500

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. All sales must be approved through the court. 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

Area Chi - Greater Grand Crossing

Zoning MULTI

Interior

Cooling None

Fireplace N

Exterior

Utilities Available Sanitary Sewer, Water-Municipal

Roof Type Rubber

Building

Dwelling Type Multi Family 5+

Level or Stories 2

Structure Type Brick

Listed by Joyce Gibson • J.A. Gibson & Associates, Ltd.

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