PENDING
$100K PRICE DROP
7956 S Rhodes Ave Chicago, IL 60619
Chatham NeighborhoodEstimated payment $2,599/month
Total Views
850
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Bed
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Bath
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Sq Ft
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Price per Sq Ft
About This Home
Rare Investment Opportunity in Chatham - 9-Unit Multifamily Building Discover a unique investment in one of the most desirable neighborhoods of Chatham with this 3-story multifamily building featuring a mix of occupied units. This property includes five 1-bedroom and four 2-bedroom units, combining comfort with potential high returns. Property Highlights: Total Units: 9 Unit Mix: 5 one-bedroom units, 4 two-bedroom units Occupancy: almost fully occupied with a combination of lease and month-to-month arrangements. Building Condition: Requires renovations; an excellent opportunity to add value. Investment Potential: Situated in the highly sought-after Chatham area, known for its strong rental demand. Potential to increase rental income through property enhancements and lease adjustments. Located in a vibrant community with easy access to local amenities, parks, and public transportation. Close proximity to shopping, dining, and entertainment options. This property is ideal for: Investors looking to expand their portfolio with a property that offers both immediate cash flow and significant upside potential through renovations. Take advantage of this opportunity to own a multifamily building in Chatham with solid bones and great potential. Whether you're looking to refurbish and revitalize or hold as a steady income source, this property promises to be a worthwhile addition to any real estate investment portfolio. Property is sold AS-IS
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,042
Year Built
- Built in 1926
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Concrete Perimeter Foundation
Interior Spaces
- 3-Story Property
Utilities
- No Cooling
- Radiant Heating System
Community Details
Overview
- 9 Units
Building Details
- Electric Expense $632
- Fuel Expense $11,900
- Insurance Expense $6,801
- Maintenance Expense $540
- Other Expense $1,200
- Trash Expense $3,614
- Water Sewer Expense $3,105
- Operating Expense $23,394
- Gross Income $71,700
- Net Operating Income $43,263
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/12/2025 06/12/25 | Pending | -- | -- | -- |
| 04/28/2025 04/28/25 | Price Changed | $400,000 | -20.0% | -- |
| 03/31/2025 03/31/25 | For Sale | $500,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Similar Homes in Chicago, IL
Source: Midwest Real Estate Data (MRED)
MLS Number: 12321646
APN: 20342020280000
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