Seller's Agent in 2026
Michael Sims
Sims Commercial Real Estate Inc
(615) 961-4040
1 in this area
47 Total Sales
500 W 78th St Chicago, IL 60620
Auburn Gresham Neighborhood
--
Bed
--
Bath
--
Sq Ft
0.26
Acres Lot
Highlights
- 0.25 Acre Lot
- Central Heating
- 4-minute walk to Auburn Park
About This Home
As of May 2026Rare opportunity to acquire a large multifamily apartment building in Chicago's Auburn Park neighborhood. This three-story, 12-bedroom property offers approximately 16,152 square feet of living area on an oversized 11,200 SF lot, zoned RT-4, providing strong density and long-term redevelopment or value-add potential 500 W 78TH ST CHICAGO IL 60620. The building has been owned by the same owner for over 30 years and is currently vacant, allowing a new owner full flexibility to reposition, renovate, or re-tenant based on their strategy. With its scale and layout, the property is well-suited for investors seeking a full renovation project, long-term hold, or portfolio expansion in a neighborhood with continued demand for rental housing. Public records reflect solid underlying land and improvement value, significant equity, and a location outside of high-risk flood zones. The property sits on a quiet residential block while remaining accessible to major streets, public transportation, and nearby amenities.
Last Agent to Sell the Property
Sims Commercial Real Estate Inc Brokerage Phone: (847) 708-5663 License #471008215 Listed on: 04/08/2026
Co-Listed By
Keller Williams Experience Brokerage Phone: (847) 708-5663 License #475193682
Last Buyer's Agent
Sims Commercial Real Estate Inc Brokerage Phone: (847) 708-5663 License #471008215 Listed on: 04/08/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $17,619
Year Built
- Built in 1927
Lot Details
- 11,200 Sq Ft Lot
- Lot Dimensions are 140x80
Home Design
- Cluster Home
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
- Unfinished Basement
Utilities
- No Cooling
- Central Heating
Listing and Financial Details
- Tenant pays for air conditioning, electricity
Community Details
Overview
- 18 Units
Building Details
- Electric Expense $2,700
- Fuel Expense $4,500
- Insurance Expense $3,600
- Maintenance Expense $1,321
- Trash Expense $3,600
- Water Sewer Expense $8,000
- Operating Expense $34,506
- Gross Income $162,000
- Net Operating Income $127,494
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Home Values in the Area
Average Home Value in this Area
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/27/2026 05/27/26 | Sold | $500,000 | -47.4% | -- |
| 04/09/2026 04/09/26 | Pending | -- | -- | -- |
| 04/08/2026 04/08/26 | For Sale | $950,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $15,891 | $87,700 | $10,640 | $77,060 |
| 2024 | $15,891 | $87,700 | $10,640 | $77,060 |
| 2023 | $15,491 | $75,318 | $7,000 | $68,318 |
| 2022 | $15,491 | $75,318 | $7,000 | $68,318 |
| 2021 | $15,146 | $75,317 | $7,000 | $68,317 |
| 2020 | $14,185 | $63,677 | $7,000 | $56,677 |
| 2019 | $12,793 | $63,677 | $7,000 | $56,677 |
| 2018 | $12,578 | $63,677 | $7,000 | $56,677 |
| 2017 | $12,289 | $57,088 | $6,440 | $50,648 |
| 2016 | $11,434 | $57,088 | $6,440 | $50,648 |
| 2015 | $10,461 | $57,088 | $6,440 | $50,648 |
| 2014 | $10,262 | $55,309 | $6,440 | $48,869 |
| 2013 | $10,059 | $55,309 | $6,440 | $48,869 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Sims
-
Jose Hernandez
Seller Co-Listing Agent in 2026
Jose Hernandez
Keller Williams Experience
(847) 708-5663
1 in this area
39 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12555384
APN: 20283180410000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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