Chicago, IL 60608 3222-3224 S Morgan Street
$1,475,000



6 more






Presented By: Avenue 1 Realty Group
Home Details
Turnkey 9-unit mixed-use property in one of Chicago's strongest rental markets of Bridgeport!. Excellent unit mix: three (3) 2BD/1BA, four (4) 1BD/1BA, and two (2) retail storefronts. The 3222 storefront and 1R unit are currently combined and leased to one tenant, easily converted back to separate spaces if desired. Each unit separately metered for gas and electric. Heating includes a mix of furnaces and Williams heaters; commercial units and 2F have furnaces with A/C condensers. Major capital improvements include full gut rehab of Unit 2F with all new plumbing, electrical, and HVAC, storefront cosmetic updates (2024), two new furnaces (2024), new water heaters, copper plumbing in select areas, electrical upgrades, and new basement coin laundry (2 washers/2 dryers). Located just off I-55 & I-90/94, minutes from Downtown, and walking distance to Guaranteed Rate Field and public transit. Strong rental history, updated systems, and minimal deferred maintenance make this an ideal turnkey addition to any investment portfolio.**Investor Upside: Add a concrete parking pad in the rear (gate already in place) and generate additional parking income, install furnaces and A/C in remaining units, add a doorbell/buzzer system for convenience and security, and raise all rents to market levels-current rents are below market.
Presented By: Avenue 1 Realty Group
General for 3222-3224 S Morgan Street
Additional Parcels Y/NYes
Cap Rate7.1
CityChicago
Construction MaterialsBrick
CoolingCentral Individual
CountyCook
Current UseOther
Directions31st St or 35th St to Morgan.
ElectricCircuit Breakers, Service - 201 to 600 Amps
Electric Expense784
Fuel Expense784
Gross Income12370
Insurance Expense7725
Lot Size Square Feet5269
MLS AreaCHI - Bridgeport
ModificationTimestamp2025-11-05T16:45:01.911Z
Net Operating Income105390
Number Of Units Total9
Operating Expense43049
PossessionClosing
Possible UseOther
Property SubtypeMixed Use
Property TypeCommercial Sale
Property TypeMixed Use
Standard StatusActive
StatusNew
Stories Count2
Tax Annual Amount15613
Tax Year2023
TownshipSouth Chicago
Trash Expense779
Water Sewer Expense779
Year Built1891
ZoningOTHER
Exterior for 3222-3224 S Morgan Street
Building Area Total6660
Foundation DetailsConcrete Perimeter
Frontage TypeCity Street
Lot Dimensions50x107
Additional Details
Price History

SQFT • 6,660