8548 S Exchange Ave Chicago, IL 60617
South Chicago NeighborhoodEstimated payment $2,022/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 offers a spacious 4 bedrooms per floor! 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! 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. There is a side driveway 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. 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). 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
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/21/2025 08/21/25 | Pending | -- | -- | -- |
| 08/04/2025 08/04/25 | For Sale | $340,000 | 0.0% | -- |
| 06/27/2025 06/27/25 | Off Market | $340,000 | -- | -- |
| 06/19/2025 06/19/25 | Pending | -- | -- | -- |
| 05/23/2025 05/23/25 | For Sale | $340,000 | +23.6% | -- |
| 08/13/2021 08/13/21 | Sold | $275,000 | +6.6% | -- |
| 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% | -- |
| 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: 12373801
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