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$ 345,000
Est. payment | /mo
5 Beds
2 Baths
$ 345,000
Est. payment | /mo
5 Beds
2 Baths
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12666296
Bedrooms 5
Year Built 1899
Annual Tax Amount $4,030
Tax Year 2024
Lot Dimensions 25X125
Property Sub-Type Two to Four Units
Property Description
Positioned in the heart of Chicago's historic Woodlawn neighborhood, this classic two flat presents an attractive opportunity for investors, owner occupants, and buyers seeking long-term value in an evolving South Side market. The property combines the enduring appeal of a traditional Chicago multifamily with multiple avenues to enhance income, improve value, and build equity. The building features two residential units: a 2 bed /1 bath first floor unit and a 3 bed /1 bath second floor unit. Both apartments offer generous living areas, abundant natural light, high ceilings, and the architectural character associated with Chicago's classic two flats. A full basement provides valuable storage and potential for future expansion or additional usable space, while on site parking adds convenience and enhances tenant appeal. From an investment perspective, the property offers several compelling strategies, including buy and hold, value add renovation, rental income optimization, and owner occupant house hacking. Investors have the opportunity to capitalize on the property's existing two units while exploring improvements that could increase rents, strengthen tenant demand, and enhance long term asset value. The property is situated near the University of Chicago, Jackson Park, and the Obama Presidential Center, as well as the ongoing redevelopment and investment throughout the Woodlawn corridor. Continued neighborhood revitalization, proximity to major institutions, transportation, parks, and cultural amenities provide a strong foundation for future demand and potential appreciation. For investors looking to acquire a multifamily asset in a neighborhood undergoing significant transformation, this Woodlawn two flat offers a compelling combination of income potential, value add upside, and long term appreciation prospects. Tenant on 1st floor pays $1650/month for rent plus utilities.
Location
State IL
County Cook
Area Chi - Woodlawn
Zoning MULTI
Rooms
Basement Unfinished, Full
Interior
Heating Natural Gas
Fireplace N
Building
Dwelling Type Two to Four Units
Building Description Brick,Stone, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick,Stone
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Emily Connolly of EXIT Strategy Realty
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