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    321 S Richmond St Chicago, IL 60612

    For Sale
    $699,999

    Residential Income - Chicago, IL

    Lot size:
    0.07 Acres
    Days on Market:
    9
    Last Refresh:
    Dec 11 at 10:06 pm

    Property Features for 321 S Richmond St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    6
    APN
    16131220120000
    Parking
    2
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1893
    Architectural style
    Other

    Dream Town Realty (312) 265-8000 [email protected]

    Listing agent Annette Shelton (312) 265-8000 License #475145995

    Listing date Dec 3, 2025

    MLS# 12526891 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

    Turnkey Two-Flat Investment Property

    This modernized two-flat in Chicago is ideal for investors, Airbnb hosts, or owner-occupants. The well-constructed building features a full masonry front. Each unit includes 2 bedrooms and 1 bathroom, with independent mechanicals and separately metered electric, heat, and cooking gas. Individual high-efficiency systems, tankless hot-water tanks, and in-unit washers and dryers are present. The property has new windows, electric, plumbing, and a roof, plus a 2-car garage. Inside, there are new hardwood floors, shaker cabinetry, quartz countertops, hand-selected backsplashes, and stainless steel appliances. A large quartz island adorns the kitchen space, providing ample cabinetry and space. The entire living space is illuminated by recessed lighting. Spacious bedrooms and baths feature a mix of polished and matte designer tile. The lower-level unit has low rents and is leased to family. The other units are Airbnb leased with an annual income of over $100,000. The property is a turnkey investment, perfect for live-in owners or investors looking for a fully updated building.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store 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
    -87.6995059
    Latitude
    41.8767371

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    FAQs

    What type of property is this?
    Apartment building - Modernized two-flat in Chicago, ideal for investors or owner-occupants.
    Where is this apartment building located?
    The property is located at 321 S Richmond St Chicago, IL.
    What is the asking price?
    The asking price for this property is $699,999.
    What are key features of this property?
    This property features: - High Income Potential: Currently AirBNB leased with an annual income of over $100,000.; - Total Gut Rehab: Completely renovated with new brick masonry, electric, plumbing, roof, and windows.; - Turnkey Property: Fully updated and ready for immediate occupancy or rental.
    (312) 265-8000
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    321 S Richmond St Chicago, IL 60612
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    Chicago, IL 60612
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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
    321 S Richmond St Chicago, IL 60612
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