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Three-Flat Brick Multifamily Building
For Sale
$299,900

1609 S Central Park Avenue, Chicago, IL 60623

Brick multifamily property with separate utilities and an as-is sale condition.

Property SizeContact for details
Days on Market8

Property Features for 1609 S Central Park Avenue

General Information

Standard status Active
Property subtype MULTI_FAMILY

Property Condition

Severity Repairs Needed
Evidence The property needs work

Units

Unit Mix 5 BR/2 BA, 4 BR/1 BA, 3 BR/1 BA
Multifamily Units 3

Taxes and HOA fees

Annual Taxes $5,080

Amenities

Separate Utilities

Building Details

Year Built 1896
Buildings 1
Construction All-Brick
Listing Agency: New Avenue Realty LLC
Listed By: Jorge Vega
Source: Dawnmckennagroup
Added: Sep 15 Changed: Sep 18 Last Checked: Sep 21 at 6:37AM

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New Avenue Realty LLC

Investment Insights

Based on property information with market context.

This all-brick three-flat multifamily property, built in 1896, contains 12 bedrooms and 4 full bathrooms. The unit configuration includes a duplex with 5 bedrooms and 2 bathrooms, a second residence with 4 bedrooms and 1 bathroom, and a third residence with 3 bedrooms and 1 bathroom. Utilities are separately metered. The property needs work and is offered as-is, with no warranties or repairs. A recent roof is also noted.

The building is across from Dvorak Elementary School and near the Pink Line and a bus stop. The surrounding area provides access to the Medical District, Douglass Park, and shopping.

Key Highlights

  • Three‑flat brick multifamily property built in 1896
  • 12 bedrooms and 4 full bathrooms across three units
  • Unit mix includes 5/2, 4/1, and 3/1 configurations

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Real Estate Agency Law Firm Skin Care Clinic HVAC Service (Bike/Boat/Book/etc) Store Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3
Residential units

Location Intelligence

Trade Area within ½ mile

1,331
Businesses Nearby

Demographics for 60623, IL

87,649
Population
31,300
Households
2.8
Avg Household Size
32
Median Age
14%
College-Educated
69%
High-School Grad
5.4 sq mi
ZIP Area
16,231
Density / Sq Mi
$44,040
Median Household Income
$32,642
Median Earnings
$1,054
Median Rent
$221,400
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Multifamily property - Brick multifamily property with separate utilities and an as-is sale condition.
Where is this multifamily property located?
The property is located at 1609 S Central Park Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑flat brick multifamily property built in 1896; 12 bedrooms and 4 full bathrooms across three units; Unit mix includes 5/2, 4/1, and 3/1 configurations
More about this property
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