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    1242 S Tripp Ave Chicago, IL 60623

    For Sale
    $249,000

    Residential Income - Chicago, IL

    Days on Market:
    13
    Last Refresh:
    Dec 13 at 11:06 pm

    Property Features for 1242 S Tripp Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    APN
    16222020380000

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1903
    Architectural style
    Other

    Real Estate Growth Partners (312) 656-9999 [email protected]

    Listing agent Lori Wyatt (312) 545-1030 License #471010153

    Listing date Dec 2, 2025

    MLS# 12517295 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Chicago Two-Flat Residential Income

    This brick two-flat building is located on a quiet street. The roof was replaced last year, and tuck pointing has been completed. Both furnaces have been replaced, and new water tanks have been installed in both units. The property features updated tiles and kitchen cabinets. The top floor unit is currently rented for $1,600 per month and features an open layout and appliances. The property also includes a large backyard. One unit is currently vacant and easy to show.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7316107
    Latitude
    41.864798

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    FAQs

    What type of property is this?
    Duplex - Two-unit residential building with recent updates and rental income.
    Where is this duplex located?
    The property is located at 1242 S Tripp Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: - Income-generating property: Top floor unit rented for $1,600/month.; - Recent major renovations: Featuring a new roof, tuck pointing, new furnaces, and new water tanks.; - Updated interiors: Enjoy updated tiles and kitchen cabinets.
    (312) 545-1030
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    Chicago, IL 60623
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1242 S Tripp Ave Chicago, IL 60623
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