Chicago, IL 60619 7301 S Michigan Avenue

Pending
Presented By: J.A. Gibson & Associates, Ltd.
  • MLS# 12192590
  • 10/19/2024
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  • Beds • 6
  • Garage • 4

Home Details

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.
Presented By: J.A. Gibson & Associates, Ltd.

Interior Features for 7301 S Michigan Avenue

Other Interior Features

BasementUnfinished

General for 7301 S Michigan Avenue

Additional Parcels Y/NNo
CityChicago
Construction MaterialsBrick
CoolingNone
CountyCook
Current UseMulti-Family
DirectionsTake State Street to 75st Go East 2 blocks to Michigan then turn north on Michigan to property.
ElectricCircuit Breakers, Service - 101 to 200 Amps
Electric Expense4320
Fuel Expense5700
Gross Income49200
Insurance Expense4230
MLS AreaCHI - Greater Grand Crossing
MaintenanceExpense2500
ModificationTimestamp2025-05-12T19:56:02.963Z
Net Operating Income23354
Number Of Units Total8
Operating Expense25846
PossessionClosing
Property TypeCommercial Sale
Property TypeMulti Family 5+
RoofRubber
Standard StatusPending
StatusPending
Stories2
Tax Annual Amount9327
Tax Year2023
TownshipHyde Park
Trash Expense3600
UtilitiesSewer Connected
Water Sewer Expense3600
Year Built1925
ZoningMULTI

Exterior for 7301 S Michigan Avenue

BuyerOfficeFax(773) 324-4226
Foundation DetailsConcrete Perimeter
Frontage TypeCity Street
Lot Dimensions60X125
Water SourceMunicipal Water

Additional Details

Price History

Client Care

Price $665,000
MLS#12192590
List Date 10/19/2024
Property Type Pending
Phone 847.485.2500
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