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Multi-Unit Property in Chicago

2904 S Wells Street, Chicago, IL 60616

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For Sale

$1,080,000

Well-maintained 7-unit property with value-add potential in Chicago.

Type:Commercial

HighLights

Multiple income streams from 7 residential units plus coach house and parking.
Value‑add opportunity through rent adjustments to market rates.
Six units with central heating and cooling.
Versatile unit mix appeals to a wide tenant base.
Desirable location near transportation, restaurants, and amenities.
Well‑maintained property in solid condition.

We can help!

Listing Contact

QIANKUN CHEN

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For Sale

$1,080,000

Well-maintained 7-unit property with value-add potential in Chicago.

Type:Commercial

Added:: Apr 9, 2026
Days on Market:: 63
Last Refresh:: Apr 9 at 8:13 pm

Property Features for 2904 S Wells Street

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1885

We can help!

Listing Contact

QIANKUN CHEN

Listing agent QIANKUN CHEN

Listing office KALE REALTY

Listing date Apr 9, 2026

Source Corcoran

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 KALE REALTY

HighLights

Multiple income streams from 7 residential units plus coach house and parking.
Value‑add opportunity through rent adjustments to market rates.
Six units with central heating and cooling.
Versatile unit mix appeals to a wide tenant base.
Desirable location near transportation, restaurants, and amenities.
Well‑maintained property in solid condition.

Overview

This multi-unit property features a total of 7 residential units, offering multiple streams of rental income. The front building includes a 3 bed/1 bath unit on the first floor, a 2 bed/1 bath unit on the second floor, and a 1 bed/1 bath unit on the third floor. The rear building consists of three 2 bed/1 bath units. Additional income is generated from the coach house unit and parking space. The property is in solid condition, with 6 units featuring central heating and cooling and 1 unit equipped with central heat and window AC. Current rents are below market and have not been increased in years, presenting a strong value-add opportunity for investors to enhance cash flow through future rent adjustments. The versatile unit mix appeals to a wide tenant base and helps minimize vacancy. Conveniently located near transportation, restaurants, and local amenities, this is an ideal asset for both seasoned investors and those seeking stable long-term income. It is located in a desirable neighborhood.

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Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6333121
Latitude: 41.8409503

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For sale
Apartment buildings
IL
Chicago
60616
2904 S Wells Street

What type of property is this?

Apartment building - Well-maintained 7-unit property with value-add potential in Chicago.

Where is this apartment building located?

The property is located at 2904 S Wells Street Chicago, IL.

What is the asking price?

The asking price for this property is $1,080,000.

What are key features of this property?

This property features: Multiple income streams from 7 residential units plus coach house and parking.; Value‑add opportunity through rent adjustments to market rates.; Six units with central heating and cooling.