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    1501 S Kolin Ave Chicago, IL 60623

    Under Contract
    For Sale
    $799,000

    Commercial Sale - Chicago, IL

    Lot size:
    0.08 Acres
    Days on Market:
    144
    Last Refresh:
    Dec 13 at 7:06 am

    Property Features for 1501 S Kolin Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    MULTI
    APN
    16222240010000
    Lot size
    0.08 Acres

    Building Details

    Year built
    1924
    Number of units
    7
    Architectural style
    Other

    Berkshire Hathaway HomeServices American Heritage Real Estate (847) 806-8336 [email protected]

    Listing agent Victor Jimenez (847) 806-8336 License #475157367

    Listing date Jul 23, 2025

    MLS# 12418665 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 Multifamily Investment Opportunity

    This fully occupied 7-unit brick building in Chicago presents an exceptional investment opportunity with immediate income potential. The well-maintained property features individual in-unit furnaces and new, separate water heaters. Updates throughout the building include modernized kitchens and bathrooms, along with new copper plumbing. Recent improvements feature professional roof maintenance with silver coating and newer vinyl windows installed in 2023, enhancing energy efficiency. The property includes 3 three-bedroom, one-bathroom units and 4 two-bedroom, one-bathroom units, all with generous living areas and large bedrooms. Constructed of solid brick, the building offers durability and timeless appeal while maintaining excellent occupancy rates. This turnkey investment requires no immediate property improvements, making it suitable for investors seeking steady cash flow. The building has a proven track record of high occupancy rates and premium rents, reflecting its desirable location and quality management potential. The lot size is 0.08 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -87.7347084
    Latitude
    41.9078211

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    FAQs

    What type of property is this?
    Apartment building - Fully occupied 7-unit building with immediate income potential.
    Where is this apartment building located?
    The property is located at 1501 S Kolin Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: - Fully occupied 7-unit building providing immediate income potential.; - Individual in-unit furnaces and brand new separate water heaters.; - Modernized kitchens and bathrooms.
    (847) 806-8336
    Request Owner's contact information
    1501 S Kolin Ave Chicago, IL 60623
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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
    1501 S Kolin Ave Chicago, IL 60623
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