7408 W 58th St Summit, IL 60501
Summit AreaEstimated payment $5,604/month
About This Home
An exceptional turn-key cash flow opportunity awaits at 7408 W 58th St, a fully tenant-occupied, well-maintained 6-unit brick building designed for high-yield portfolio growth. Offering immediate, stabilized income from long-term tenants, this property features a highly desirable unit mix of four spacious 2-bedroom, 1-bathroom units and two efficient 1-bedroom, 1-bathroom units. Capital improvements include a roof replaced roughly six years ago, while value-add amenities like 5 exterior parking spaces, private tenant storage lockers, and an on-site coin-operated laundry facility drive extra passive revenue. Superbly managed and ideally situated near I-55 for effortless commutes into Chicago and surrounding suburbs, this rock-solid investment is a seamless plug-and-play addition to any portfolio.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,335
Year Built
- Built in 1966
Lot Details
- Lot Dimensions are 43x125
Home Design
- Brick Exterior Construction
- Pitched Roof
- Composition Roof
- Concrete Perimeter Foundation
Interior Spaces
- 2-Story Property
- Exterior Basement Entry
Utilities
- Window Unit Cooling System
- Baseboard Heating
- Separate Meters
Listing and Financial Details
- The owner pays for water, gas, heat
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $570
- Fuel Expense $4,990
- Insurance Expense $3,700
- Trash Expense $865
- Water Sewer Expense $3,980
- Operating Expense $27,926
- Gross Income $63,360
- Net Operating Income $35,434
Map
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 |
|---|---|---|---|---|
| 09/08/2026 09/08/26 | For Sale | $799,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12750215
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Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
- 7424 W 57th Place
- 7320 W 58th St
- 6061 S 74th Ct
- 7226 W 60th Place
- 7610 W 60th Place
- 5441 S 74th Ave
- 6004 S Archer Rd
- 5441 S Hunt Ave
- 5436 S 73rd Ct
- 5445 S 73rd Ave
- 6140 S 75th Ave
- 5724 S Sayre Ave
- 5615 S Nordica Ave
- 5404 S 72nd Ct
- 7426 W 62nd Place
- 5347 S 73rd Ave
- 5601 S Sayre Ave
- 5317 S Hunt Ave
- 5814 S New England Ave
- 5320 S 73rd Ave
- 6028 S Archer Rd Unit 6
- 6745 W 59th St
- 5304 S New England Ave
- 6319 S Oak Park Ave Unit 1A
- 5224 S Rutherford Ave
- 6104 S Nashville Ave
- 5632 S Narragansett Ave Unit 204
- 5353 S Natchez Ave Unit 1F
- 5819 S Narragansett Ave
- 6511 W 63rd Place
- 6219 S Nagle Ave Unit 6219
- 6214 S Narragansett Ave Unit 1S
- 6238 W 63rd St
- 6250 W 64th Place Unit 101
- 4444 Wisconsin Ave Unit SI ID1366956P
- 4341 Wisconsin Ave
- 6101 W 64th Place Unit 4
- 4337 Prescott Ave Unit 2C
- 7241 Beloit Ave
- 7300 S 78th Ave Unit 6
Ask me questions while you tour the home.