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About the Listing 87977 - 847374
Beautiful All-Brick 3-Unit Building in West Woodlawn This well-maintained all-brick 3-unit building in West Woodlawn offers spacious layouts, strong cash flow, and long-term upside in one of Chicago's fastest-growing areas. The first-floor unit features 3 bedrooms and 2 bathrooms, including a primary suite with an en-suite bath. The second and third floors each offer 4 bedrooms and 2 full bathrooms. All units feature hardwood floors, fireplaces, stainless steel appliances, newer hot water tanks, and newer furnaces. The entire building underwent a full gut rehab in 2019, including a complete tear-off roof and a new water service line, providing copper piping from the street into the basement. The first-floor unit is currently operated as a successful Airbnb but can easily be owner-occupied or rented long-term for an estimated $1,800-$2,200 per month, adding immediate cash flow flexibility. The second and third floor tenants have been in place for years and are responsible, long-term occupants. The second-floor unit includes use of the 2-car garage and is currently on a month-to-month lease. While current rents are near market, there is clear potential for rent increases to maximize value. The third-floor unit has help from an organization and receives a subsidy, providing guaranteed rent as an added benefit. The basement is unfinished but exceptionally clean and well-maintained. The property is truly turnkey and well positioned for appreciation with the upcoming Obama Presidential Center nearby. Conveniently located near the University of Chicago, Downtown Chicago, Lake Shore Drive, and the future Obama Center, this is a strong investment opportunity in a rapidly developing neighborhood. Schedule your showing today. First floor and basement are easy to show; second and third floor showings available with serious interest.
Listing Highlights
Status
Active
Days on Site
20
Property Type
Multi-Family
MLS ®
12562523
Year Built
1909
Total Square Footage
0
Lot/Acreage
3750
Interior Details
- Bedrooms: 11
- Bathrooms: 6 Full
- Appliances: TV-Cable,Ceiling Fan(s),Multiple Water Heaters,Water Heater-Electric
- Air Cond:
- Heating: Natural Gas,Forced Air,Indv Controls
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished,Full
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Garage Capacity: 2 car
- Parking Spaces: 2
- Lot Dimensions: 3750
- Zoning: MULTI
- Roof: Rubber,Flat
- Others:
- Sewer: Public Sewer
- Parking Features: Garage Door Opener,Yes,Garage Owned,Detached,Garage
Financial Details
- Tax Amount: $6,852
- Taxes w/Assessments: N/A
- Tax/Property ID: 20154080140000
- Tax Year: 2024
Payment Calculator
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Questions About..
6112 S Vernon Ave Chicago, IL 60637
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