Discover a unique investment opportunity in Chicago's South Shore! Are you searching for a prime investment opportunity in one of Chicago's vibrant neighborhoods? Look no further than this jumbo-sized, 3-unit building located in the heart of South Shore. This property is not just a place to live; it is a strategic investment with features that cater to both owner-occupiers and savvy investors. Spacious units: Each unit boasts generous bedroom sizes, perfect for comfortable living. Modern amenities: Enjoy the convenience of central heat and air conditioning, with 2020 AC units ensuring efficiency and comfort. Recent upgrades: The building features a newer roof installed in 2019, garage roof in 2019, along with tuckpointing, gutters, and downspouts completed in 2019, ensuring durability and reduced maintenance costs. Hardwood floors and fresh paint: All units are adorned with beautiful hardwood floors and have been recently painted, offering a fresh and modern aesthetic. Bonus room: An enclosed back porch provides additional space, perfect for a home office or relaxation area. Tenant-paid utilities: Each unit is equipped with washer/dryer hookups, and tenants are responsible for their own utilities, maximizing your investment return. Ample parking: A detached 3 car garage offers secure parking and additional storage space. Investment potential: This property is ideal for investors looking to capitalize on the rental market, or for those seeking a home with income potential. With tenants paying utilities and the property's strategic location, you can expect a steady cash flow and potential appreciation over time. Location benefits: South Shore is a dynamic community known for its cultural diversity and proximity to Lake Michigan. Residents enjoy easy access to public transportation, parks, and local amenities, making it a desirable location for renters and homeowners alike. Do not miss out on this exceptional opportunity to own a piece of Chicago's thriving real estate market. Whether you are looking to expand your investment portfolio or find a home that pays for itself, this property is a must-see.
Property Details
Property Features
Property Information:
Architectural Style: American 4-Sq.
Year Built: 1926
Listing Office:
Office Name: Century 21 S.G.R., Inc.
Office Phone: (312) 455-1322
Listing Agent: Carl Johnson
Interior Features
Interior Information:
Basement: Yes
Bedroom and Bathroom Information:
Total Bedroom Count: 9
Exterior Features
Exterior Information:
Waterfront: Fencing
Parking Information:
Garage Space: 3 spaces
Attached Garage: No
Lot Features
Lot Information:
Lot: Fencing
Lot Size: 0.11 Acres
Utilities
Utilities Information:
Heating: Natural Gas, Forced Air
School Info
Assigned Schools Information:
Chicago Vocational Career Academy High School, Public District Grades 9-11
Bradwell Communications Arts and Sciences Elementary School, Public District Grades KG-8
Other
Directions Information:
Directions: east/west on 75th St to Phillips, 1-way south to property.
Price Information
Listing Price Info
Price Summary:
List Price: $435,000
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Housing Market Comparison
See how this home compares to others in Chicago, IL.
This property is $76.1K more than the Median Sold Price in Chicago, IL.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: MRED
MLS Number: #12196509
Listing Office:
Office Name: Century 21 S.G.R., Inc.
Office Phone: (312) 455-1322
Listing Agent: Carl Johnson
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
3
/10
Bradwell Communications Arts and Sciences Elementary School
7736 S Burnham Ave
Distance between this listing and this school0.40 miles
Public District Grades KG-8
High School
1
/10
Chicago Vocational Career Academy High School
2100 E 87th St
Distance between this listing and this school1.26 miles
Public District Grades 9-11
Assigned Schools
3
/10
Bradwell Communications Arts and Sciences Elementary School
7736 S Burnham Ave
Distance between this listing and this school0.40 miles
Public District Grades KG-8
Nearby Schools
3
/10
Powell Paideia Community Academy Elementary School
7511 S South Shore Dr
Distance between this listing and this school0.52 miles
Public District Grades KG-8
4
/10
Bouchet Math and Science Academy Elementary School
7355 S Jeffery Blvd
Distance between this listing and this school0.66 miles
Public District Grades KG-8
Nearby Schools
6
/10
South Shore Fine Arts Elementary School
1415 E 70th St
Distance between this listing and this school1.50 miles
Public District Grades PK-8
8
/10
Black Magnet Elementary School
9101 S Euclid Ave
Distance between this listing and this school1.93 miles
Public Magnet Grades KG-8
7
/10
Burnside Elementary Scholastic Academy
650 E 91st Pl
Distance between this listing and this school2.87 miles
Public Magnet Grades PK-8
Assigned Schools
1
/10
Chicago Vocational Career Academy High School
2100 E 87th St
Distance between this listing and this school1.26 miles
Public District Grades 9-11
Nearby Schools
5
/10
South Shore International College Prep High School
1955 E 75th St
Distance between this listing and this school0.61 miles
Public District Grades 12-12
1
/10
Epic Academy High School
8255 S Houston Ave
Distance between this listing and this school1.11 miles
The neighbors living near this home have an average income of $42,286. Typical income of Chicago, IL residents is between $35k-100k annually. Typical family type is single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 7640 S Phillips Ave
What is the listing price of this property?
The listing price of 7640 S Phillips Ave property is $435,000.
What type of property is this?
The property 7640 S Phillips Ave is a house located in Chicago, Illinois, 60649.
Is this property for sale now?
Active Listing: 7640 S Phillips Ave is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 7640 S Phillips Ave are: Bradwell Communications Arts and Sciences Elementary School: GreatSchools Rating 3/10Chicago Vocational Career Academy High School: GreatSchools Rating 1/10
How many bedrooms and bathrooms does this property have?
The property at 7640 S Phillips Ave has 9 bedrooms and 5 bathrooms.
Which year was this property built?
The year of construction for 7640 S Phillips Ave is 1926.
This home is located at 7640 S Phillips Ave in Chicago, IL and zip code 60649 in the South Shore neighborhood. This home, which was built in 1926, sits on a 0.11 acre lot. Features: 9 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since October 25, 2024 and is currently priced at $435,000.
In September 2024 more than 575 listings in Chicago, IL were sold above the asking price. During the same period more than 308 listings were sold at asking price, while more than 826 were sold below. The inventory of homes for sale in Chicago, IL between August 2024 and September 2024 increased by 12.6%. While the average time on the market in September 2024 was 30 days, the median list price was $358,841.
From Rocket Homes Real Estate and based on county public records data.