8548 S Exchange Ave Chicago, IL 60617
South Chicago NeighborhoodEstimated payment $1,971/month
About This Home
Buyer financing fell through! Welcome to this very well maintained brick 2-unit brick! This building is located in the heart of South Chicago and uniquely offers 4 bedrooms per floor! New hot water tank and furnace for Unit 2, new A/C for Unit 1. Tenants pay their own utilities and there is a 2 car brick garage. Unit 1 features 4 spacious bedrooms, 1 bathroom, a light-filled living room, and a functional kitchen with ample cabinet space. Unit 2 features 4 generous bedrooms, 1 bathroom, a large living area, and an updated kitchen perfect for entertaining. There is a full unfinished basement, ideal for additional storage or future development. One of the only properties on the block with a private driveway (that fits at least 4 cars) and good sized backyard, perfect for relaxing or entertaining. A few key updates are a newer roof (installed within the last 5 years), updated plumbing and electrical systems, renovated 2nd floor, well-maintained interiors in both units. Whether you're an investor seeking a high-performing rental property (.09 cap rate) or a homeowner looking for rental income, this property is a perfect fit! There is a long term tenant on the 1st floor and the 2nd floor is recently vacant but was rented for $1700! The current annual expenses are low! Only $3,100 with a previous income of 36,000 and projected income of $40,800! ($1700 per unit). Located less than a mile from the new ground-breaking 128 acre 'Quantum Shore' development. This property is minutes from Lake Michigan, parks, and local shops. Enjoy easy access to public transportation, major highways, and the developing South Shore and South Chicago area. The location offers great potential as the neighborhood continues to grow and attract smart homeowners and investors. Schedule your private showing today!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,532
Year Built
- Built in 1924
Parking
- 2 Car Garage
Home Design
- Brick Exterior Construction
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Potential Bedrooms
- 2 Bathrooms
Utilities
- Radiator
- Lake Michigan Water
Additional Features
- Basement Fills Entire Space Under The House
- 4,356 Sq Ft Lot
Community Details
Overview
- 2 Units
Building Details
- Electric Expense $220
- Trash Expense $1,440
- Water Sewer Expense $1,440
- Net Operating Income $32,900
Map
Home Values in the Area
Average Home Value in this Area
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 | $2,532 | $24,600 | $3,515 | $21,085 |
| 2024 | $2,532 | $24,600 | $3,515 | $21,085 |
| 2023 | $2,468 | $12,000 | $4,687 | $7,313 |
| 2022 | $2,468 | $12,000 | $4,687 | $7,313 |
| 2021 | $2,413 | $12,000 | $4,687 | $7,313 |
| 2020 | $2,233 | $10,023 | $4,687 | $5,336 |
| 2019 | $2,315 | $11,521 | $4,687 | $6,834 |
| 2018 | $2,276 | $11,521 | $4,687 | $6,834 |
| 2017 | $3,949 | $18,343 | $4,218 | $14,125 |
| 2016 | $3,674 | $18,343 | $4,218 | $14,125 |
| 2015 | $3,361 | $18,343 | $4,218 | $14,125 |
| 2014 | $3,002 | $16,181 | $3,280 | $12,901 |
| 2013 | $2,943 | $16,181 | $3,280 | $12,901 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/07/2026 01/07/26 | Pending | -- | -- | -- | |
| 01/06/2026 01/06/26 | For Sale | $340,000 | 0.0% | -- | |
| 01/02/2026 01/02/26 | Pending | -- | -- | -- | |
| 12/29/2025 12/29/25 | For Sale | $340,000 | +23.6% | -- | |
| 08/13/2021 08/13/21 | Sold | $275,000 | +6.6% | -- | View Prior Sale |
| 05/25/2021 05/25/21 | For Sale | -- | -- | -- | |
| 05/24/2021 05/24/21 | Pending | -- | -- | -- | |
| 05/20/2021 05/20/21 | For Sale | $258,000 | +467.0% | -- | |
| 10/31/2016 10/31/16 | Sold | $45,500 | +30.0% | -- | View Prior Sale |
| 10/04/2016 10/04/16 | Pending | -- | -- | -- | |
| 09/13/2016 09/13/16 | For Sale | $35,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12537956
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