54
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Listed by Phillip Dixonof Compass
$699,500
Est. payment /mo
9 Beds
4,791 Sqft Lot
Active Under Contract
5169 S Michigan AVE Chicago, IL 60615
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Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12547040
Style Brownstone
Bedrooms 9
Year Built 1898
Annual Tax Amount $6,393
Tax Year 2024
Lot Size 4,791 Sqft
Lot Dimensions 30 X 160
Property Sub-Type Two to Four Units
Property Description
A LEGAL 3 UNIT! Get up to potentially net a profit over of $1,400 per month After paying PITI and PMI! The annual gross rental income is $77,712. This is the best deal in town. The lot adjacent to this listing will now be two new 3 unit buildings for over $1 million each. There are two other new developments that have recently been built or in the process of being built as well near the property. Get in now before prices sky rocket as the neighborhood is experiencing a rapid revitalization. Zoning Certificate in Agent document folder. Seller needs to sale to close on another property. 5169 S Michigan Ave is a well-maintained 3-unit rehabbed building in vibrant Washington Park. Each of the three spacious units have been updated with modern kitchens featuring quartz countertops and stainless steel appliances, plus larger back decks perfect for everyday use or entertaining. Individualized Central AC and heat was added in 2024, bringing extra comfort for tenants. Roof was replaced by the prior owner in 2022. Permitted Tuckpointing on Front of building in 2023. This unit is close to actual park of Washington Park, University of Chicago/ Hospital, upcoming data Center, Schools, Shopping, and walking distance from the XS Tennis facility. You will be close to public transportation; CTA bus, CTA Green Line stop on 51st, Metra lines, 90/94expressway, and Lake Shore Drive. Only 9 minutes to Hyde Park and a 15 minute drive to downtown Chicago. With public transit steps away, parks nearby, and downtown just a short ride, this property combines convenience, strong rental appeal, and long-term value.
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Finished, Exterior Entry, Egress Window, Full
Interior
Heating Natural Gas, Forced Air, Indv Controls
Fireplace N
Exterior
Exterior Feature Balcony
Garage Spaces 2.0
View Y/N true
Building
Foundation Stone
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Brick
New Construction false
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition List Broker Must Accompany
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