3229 Commercial Ave South Chicago Heights, IL 60411
Estimated payment $4,910/month
About This Home
Don't miss this incredible fully leased investment opportunity! This hard to find 7 unit building is over an 8 cap at the list price. No deferred maintenance and below market rents combine to create tremendous value add potential. With seven total units rent increases to market value and further increases over time will have an exponential effect on value. All of the apartments are desirable 2 bedroom units with a spacious family room. Coin op laundry and storage are available in the basement. One apartment has just been updated with quartz counter tops, new appliances and bathroom fixtures (rented immediately!). Other updates include new windows, new appliances, new exterior lighting and the fire safety system has been updated. New 10 year smoke and CO detectors were just installed. Low to no vacancy history. Restaurants, national retailers and the Jewel grocery store are all within walking distance make renting apartments a breeze. There are 7 onsite parking spaces and unrestricted on street parking. Don't wait, opportunities like this don't come often!
Listing Agent
Coldwell Banker Real Estate Group License #475142955 Listed on: 11/09/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,910
Year Built
- Built in 1969
Home Design
- Brick Exterior Construction
Additional Features
- 3-Story Property
- Lot Dimensions are 50x125
- Hot Water Heating System
Community Details
Overview
- 7 Units
Building Details
- Electric Expense $684
- Fuel Expense $3,446
- Insurance Expense $5,193
- Other Expense $19,498
- Trash Expense $2,914
- Water Sewer Expense $5,457
- Operating Expense $29,407
- Gross Income $94,500
- Net Operating Income $65,093
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 |
|---|---|---|---|---|---|
| 11/09/2025 11/09/25 | For Sale | $775,000 | +96.7% | -- | |
| 03/06/2020 03/06/20 | Sold | $394,000 | +1.3% | -- | View Prior Sale |
| 01/16/2020 01/16/20 | Pending | -- | -- | -- | |
| 01/09/2020 01/09/20 | For Sale | $389,000 | +16.1% | -- | |
| 02/07/2018 02/07/18 | Sold | $335,000 | -4.0% | -- | View Prior Sale |
| 01/02/2018 01/02/18 | Pending | -- | -- | -- | |
| 10/02/2017 10/02/17 | Price Changed | $349,000 | -4.4% | -- | |
| 09/25/2017 09/25/17 | Price Changed | $365,000 | -6.2% | -- | |
| 09/12/2017 09/12/17 | Price Changed | $389,000 | -5.1% | -- | |
| 08/17/2017 08/17/17 | Price Changed | $410,000 | -3.5% | -- | |
| 08/04/2017 08/04/17 | For Sale | $425,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12513857
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