2
See all 2 photos
$425,000
Est. payment /mo
9 Beds
3 Baths
3,484 Sqft Lot
Active
7544 S Essex AVE Chicago, IL 60649
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Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12724446
Bedrooms 9
Year Built 1927
Annual Tax Amount $6,469
Tax Year 2024
Lot Size 3,484 Sqft
Lot Dimensions 3720 SQ FT
Property Sub-Type Two to Four Units
Property Description
OWNER-OCCUPANT & INVESTOR VALUE-ADD OPPORTUNITY IN SOUTH SHORE! Not turnkey. Not overdone. Full of potential. This solid all-brick 3-flat offers approximately 3,200 sq ft, 9 bedrooms, 3 baths, separate utilities and a full basement-with an opportunity to create value through cosmetic renovation. Owner-occupants: Live in one unit while renting the other two, with anticipated rental potential of approximately $4,600/month from the two rented units, subject to market conditions and tenant demand. Investors: Three units create multiple income streams with anticipated rents of approximately $2,300 per unit, or $6,900/month when fully rented. The strategy is simple: BUY RENOVATE RENT BUILD EQUITY Financing options may include FHA 203(k), Conventional Rehab, Cash, or Hard Money, subject to lender/investor approval, property eligibility, borrower qualifications and applicable loan terms. Located in South Shore amid significant public and private investment, including INVEST South/West, the Obama Presidential Center, THRIVE Exchange and 71st Street corridor investment. Future impact is not guaranteed, but the level of investment makes this an opportunity worth a closer look. This is where the opportunity begins: bring your vision, improve the property and create the value. Short sale. Sold AS-IS. Subject to lender approval. If you're looking for a property where the upside comes from what YOU do with it, don't let this one pass without running the numbers. Anticipated rents are estimates for illustrative purposes only. Actual rents, expenses, renovation costs and values may vary. Financing is subject to lender approval, borrower qualification, property eligibility and applicable terms. Buyer to independently verify all information and projections.
Location
State IL
County Cook
Area Chi - South Shore
Zoning MULTI
Rooms
Basement Partially Finished, Full
Interior
Heating Natural Gas
Fireplace N
Exterior
Garage Spaces 3.0
Community Features Gated, Sidewalks, Street Lights, Street Paved
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition Short Sale
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Yolanda Martin of Century 21 IMPACT
NEARBY SCHOOL & BUSINESS
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