317 E 116th St Chicago, IL 60628
West Pullman NeighborhoodEstimated payment $1,096/month
About This Home
Amazing Cash Flow Opportunity in the Hot West Pullman Area! A rare investment opportunity. The parcel includes two buildings for the price of one, making it an ideal/cant miss opportunity for savvy investors or rehabbers. With owner financing available, this is a fantastic chance to secure a property with great potential. The front building has suffered fire damage and requires significant work, including a gut rehab of two of its four units and a new roof. Once completed, the property can generate up to $5300-$5800 in monthly rental income (Per seller, the property rent roll before the fire was $4300 with minimal rehab completed.) The second building on the property is in rentable condition with two units already available. The 2 units would ensure immediate cash flow while you work on completing the rehab of the front building. The owner is willing to consider a DP of $20,000 and will extend the loan balance for up to 12 months to allow the buyer ample time to finish the necessary work on the front building. The best estimates suggest that approximately $60,000 will be needed to complete the renovations, including the new roof and updating the units to a marketable standard. The owner is confident that once the renovations are completed and the apartments are rented, this property could easily sell for more than $300,000. This is a prime opportunity to invest in a property with enormous potential for appreciation. Whether you are looking for a long-term investment or a project to rehab and flip, this property offers great value. Great opportunity!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,832
Year Built
- Built in 1902
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Additional Features
- 2-Story Property
- Lot Dimensions are 25x178
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $480
- Insurance Expense $2,476
- Maintenance Expense $1,149
- Water Sewer Expense $1,883
- Operating Expense $8,835
- Gross Income $45,600
- Net Operating Income $36,765
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/03/2026 01/03/26 | Price Changed | $164,500 | 0.0% | -- | |
| 01/03/2026 01/03/26 | For Sale | $164,500 | -7.8% | -- | |
| 11/30/2025 11/30/25 | Off Market | $178,500 | -- | -- | |
| 07/15/2025 07/15/25 | For Sale | $178,500 | +87.9% | -- | |
| 07/02/2019 07/02/19 | Sold | $95,000 | -13.6% | -- | View Prior Sale |
| 05/08/2019 05/08/19 | Pending | -- | -- | -- | |
| 04/15/2019 04/15/19 | For Sale | $109,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12409483
APN: 25223120070000
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