$339,900
$10K PRICE DROP

7318 W Archer Ave Summit, IL 60501

Estimated payment $2,465/month

Total Views 26,217
4 Beds
2 Baths
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Landscaped Professionally
  • Corner Lot
  • Forced Air Heating System
  • Argo Community High School Rated A-
  • Den
  • Baseboard Heating

About This Home

Well-maintained all-brick two-flat in a prime Summit location just off Archer Avenue, priced to move and full of upside. Zoned R-4 with B-2 overlay potential, this is a rare opportunity to own a flexible property in a high-demand pocket-ideal for investors or live-in owners. Each unit offers 2 bedrooms, 1 bathroom, a four-season front room, updated kitchens with stainless steel appliances and dishwashers, and separate private laundry. The building has been thoughtfully upgraded with copper plumbing, separate forced-air heating with central air, and tenants pay all utilities except water. The upper unit is leased through 2026, but the tenant is open to early move-out for an owner-occupant buyer. The lower unit is vacant and ready to go, perfect for immediate occupancy or rental. Off-street parking available through the Village of Summit with permit. Whether you're looking to generate immediate income, house hack, or convert to a hybrid commercial use-this one checks all the boxes. Property is being sold AS-IS. Bring your vision, and act quickly-opportunities like this don't last.

Listing Agent

Hisham Bedeir

Compass License #471020212 Listed on: 07/06/2025

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,256

Year Built

  • Built in 1923 | Remodeled in 2024

Lot Details

  • Lot Dimensions are 29.9x125.5x29.9x125.6
  • Chain Link Fence
  • Landscaped Professionally
  • Corner Lot
  • Paved or Partially Paved Lot

Home Design

  • Brick Exterior Construction

Interior Spaces

  • Den

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Potential Bedrooms
  • 2 Bathrooms
  • Separate Shower

Parking

  • 8 Parking Spaces
  • Off-Street Parking

Schools

  • Argo Community High School

Utilities

  • Forced Air Heating System
  • Baseboard Heating
  • Heating System Uses Natural Gas
  • Lake Michigan Water
  • Cable TV Available

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,256

Year Built

Built in 1923 | Remodeled in 2024

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1923
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Commuter Bus,Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2024
  • Actual Status: Active
  • SomePhotosVirtuallyStaged: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2024

Interior Features

  • Basement: None
  • Total Bathrooms: 2
  • Total Bedrooms: 4
  • Room Type: Den
  • Bathroom Amenities: Separate Shower
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Central Air Conditioner
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Central Air Conditioner,Walk-In Closet

Exterior Features

  • Construction Materials: Vinyl Siding, Brick
  • ExteriorFeatures: Lighting
  • Fencing: Fenced, Chain Link
  • Lot Features: Corner Lot, Landscaped
  • Waterfront: No

Garage/Parking

  • Parking Features: Off Street, Yes, Other
  • ParkingTotal: 8

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Forced Air, Baseboard
  • Utilities: Cable Available
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights, Street Paved

Schools

  • High School: Argo Community High School

Lot Info

  • Lot Dimensions: 29.9X125.5X29.9X125.6
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: No

Tax Info

  • Tax Annual Amount: 8256
  • Tax Year: 2023

Multi Family

  • Units in Building: 2
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Flat

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

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 $8,256 $23,565 $2,719 $20,846
2024 $8,256 $23,565 $2,719 $20,846
2023 $8,030 $23,565 $2,719 $20,846
2022 $8,030 $18,614 $2,344 $16,270
2021 $8,252 $19,654 $2,343 $17,311
2020 $2,136 $19,654 $2,343 $17,311
2019 $2,526 $18,940 $2,156 $16,784
2018 $2,447 $18,940 $2,156 $16,784
2017 $2,401 $18,940 $2,156 $16,784
2016 $3,710 $13,594 $1,875 $11,719
2015 $3,777 $13,594 $1,875 $11,719
2014 $3,295 $13,594 $1,875 $11,719
2013 $3,327 $15,912 $1,875 $14,037
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/27/2025 12/27/25 Price Changed $339,900 -2.9% --
11/03/2025 11/03/25 For Sale $349,880 0.0% --
10/07/2025 10/07/25 Pending -- -- --
08/04/2025 08/04/25 For Sale $349,880 0.0% --
07/24/2025 07/24/25 Pending -- -- --
07/06/2025 07/06/25 For Sale $349,880 +74.9% --
12/23/2020 12/23/20 Sold $200,000 -16.6% -- View Prior Sale
12/08/2020 12/08/20 Pending -- -- --
11/07/2020 11/07/20 For Sale $239,900 -- --
Source: Midwest Real Estate Data (MRED)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12398404

Midwest Real Estate Data (MRED)