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$ 340,000
Est. payment /mo
Open 5/29 5:30PM-6:30PM
8548 S Exchange AVE Chicago, IL 60617
8 Beds
2 Baths
4,356 Sqft Lot
OPEN HOUSE
Thu May 29, 5:30pm - 6:30pm
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12373801
Bedrooms 8
Year Built 1924
Annual Tax Amount $2,531
Tax Year 2023
Lot Size 4,356 Sqft
Lot Dimensions 4687
Property Sub-Type Two to Four Units
Property Description
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!
Location
State IL
County Cook
Area Chi - South Chicago
Zoning MULTI
Rooms
Basement Unfinished, Full
Interior
Heating Radiator(s)
Fireplace N
Exterior
Garage Spaces 2.0
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Rashauna Scott • Keller Williams ONEChicago
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