6555 S King Dr Chicago, IL 60637
West Woodlawn NeighborhoodEstimated payment $14,897/month
About This Home
Take this opportunity to own a solid brick, 24 unit walk-up apartment building with a very desirable unit mix of all 2bed/1bath units. This property is located in the W. Woodlawn area, and was gutted down to the bricks and completely renovated just a few years ago. In addition to a new roof, new copper plumbing, new electrical, and new gas lines for the building, every unit was rehabbed with hardwood floors, new walls, new kitchens and bathrooms, new windows, in- unit circuit breakers, and individual gas forced air furnaces. There are four separate entrances - one on S. King Drive and the other three on 66th St. - and each one has exposed brick walls and a skylight that floods each entrance and stairway with an abundance of natural light. There are four separate basement entrances accessible through the rear courtyard, and one of these basements has a laundry area with 2 washers and 2 dryers available for tenant use. The Woodlawn area has seen tremendous change over the past few years, with the soon to be completed Obama Presidential Library (2 miles east of this property) driving change in E. Woodlawn, and other developments bringing change to the rest of the community. Just across 66th street from the 3 entrances to this property, the Rev. Corey Brooks and his Project H.O.O.D. are building the new 85,000 sq. ft. Robert R. McCormick Leadership and Economic Opportunity Center. This new community center will teach trades, entrepreneurship, music, and arts. It will also house a swimming pool and have other athletic facilities. There is easily accessible public transportation serving this area, with the CTA green line (light rail line) stop located 2 blocks north of the property and the CTA #3 bus line running north and south down King Drive - with a stop just outside the 6553 entrance to the building.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $37,718
Year Built
- Built in 1908
Lot Details
- Lot Dimensions are 92x122
Interior Spaces
- 3-Story Property
- Fire Sprinkler System
Utilities
- Window Unit Cooling System
- Forced Air Heating System
Community Details
Overview
- 24 Units
Building Details
- Electric Expense $10,408
- Fuel Expense $4,203
- Insurance Expense $11,982
- Maintenance Expense $7,500
- Manager Expense $10,429
- Other Expense $27,928
- Trash Expense $7,534
- Water Sewer Expense $14,242
- Operating Expense $165,853
- Gross Income $305,844
- Net Operating Income $119,578
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/25/2025 07/25/25 | For Sale | $2,250,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12429687
APN: 20222160170000
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