
6049 S Champlain Ave Chicago, IL 60637
Washington Park NeighborhoodEstimated payment $2,380/month
About This Home
Turnkey SRO Investment Opportunity in Charming Greystone! Discover a long-established Single Room Occupancy (SRO) greystone property, thoughtfully managed by the current owner. Featuring 8 rooms across what appears to be a 2-unit structure with a finished basement, it has served senior tenants with distinction for years. Why this property stands out: High demand: SROs offer affordable housing for community members on tight budgets. Income flexibility: Continue with the existing 8 tenants, or increase revenue by adding a 9th tenant in the basement. Value-adding refresh: Convert legally to a 3-4 unit building, potentially elevating market value to approximately $900K. Spacious lot: The wide parcel provides potential for enhancements, expansion, or additional amenities. Investor, owner-operator, or developer? This greystone offers multiple paths: Keep it as is and sustain immediate rental income. Expand to maximize rental revenue. Reconfigure zoning to residential to appeal to traditional multi-unit buyers. Bottom line: This property delivers income stability, long-term value creation, and structural flexibility-all wrapped in the enduring charm of a classic greystone. Schedule your showing today and explore the possibilities!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,473
Year Built
- Built in 1903
Home Design
- Rooming House
- Flat Roof Shape
- Brick Exterior Construction
- Rubber Roof
- Stone Siding
- Concrete Block And Stucco Construction
- Concrete Perimeter Foundation
Interior Spaces
- 2-Story Property
Utilities
- Central Heating
- Radiator
- Radiant Heating System
Community Details
Overview
- 5 Units
Building Details
- Electric Expense $3,000
- Fuel Expense $3,600
- Insurance Expense $6,000
- Trash Expense $2,000
- Water Sewer Expense $2,400
- Gross Income $64,000
Map
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
07/10/2025 07/10/25 | For Sale | $399,000 | -- | -- |
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Source: Midwest Real Estate Data (MRED)
MLS Number: 12416166

APN: 20154060080000
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