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Large Multifamily Building in Chicago

500 W 78th Street, Chicago, IL 60620

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For Sale

$950,000

Three-story, 12-bedroom property in Auburn Park neighborhood.

Type:Commercial

Property size:

16,152 SF

Lot size:

0.26 Acres

Price / SF:

$58/SF

HighLights

Large 12‑bedroom multifamily building with 16,152 SF of living area.
Oversized 11,200 SF lot zoned RT‑4, offering redevelopment potential.
Vacant property allows for immediate renovation, re‑tenanting, or repositioning.
Significant equity and strong underlying land/improvement value.
Located outside of high‑risk flood zones.
Accessible to major streets, public transportation, and amenities.

We can help!

Listing Contact

MICHAEL SIMS

Learn more

For Sale

$950,000

Three-story, 12-bedroom property in Auburn Park neighborhood.

Type:Commercial

Property size:

16,152 SF

Lot size:

0.26 Acres

Price / SF:

$58/SF

Added:: Apr 9, 2026
Days on Market:: 63
Last Refresh:: Apr 9 at 8:23 pm

Property Features for 500 W 78th Street

General Information

Standard status: Active
Size: 16,152 SF
Lot size: 0.26 Acres
Property subtype: Commercial

Building Details

Year Built: 1927

We can help!

Listing Contact

MICHAEL SIMS

Listing agent MICHAEL SIMS License #339037

Listing office SIMS COMMERCIAL REAL ESTATE INC

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 SIMS COMMERCIAL REAL ESTATE INC

HighLights

Large 12‑bedroom multifamily building with 16,152 SF of living area.
Oversized 11,200 SF lot zoned RT‑4, offering redevelopment potential.
Vacant property allows for immediate renovation, re‑tenanting, or repositioning.
Significant equity and strong underlying land/improvement value.
Located outside of high‑risk flood zones.
Accessible to major streets, public transportation, and amenities.

Overview

Located in Chicago's Auburn Park neighborhood, this three-story multifamily apartment building offers a rare acquisition opportunity. The property features 12 bedrooms and approximately 16,152 square feet of living area, situated on an oversized 11,200 square foot lot. Zoned RT-4, the property provides strong density and long-term redevelopment or value-add potential. The building, vacant and under the same ownership for over 30 years, allows flexibility to reposition, renovate, or re-tenant. Suited for investors seeking a full renovation project, long-term hold, or portfolio expansion, the property is located in a neighborhood with continued demand for rental housing. Public records reflect solid underlying land and improvement value and significant equity. The location is outside of high-risk flood zones. The property sits on a quiet residential block while remaining accessible to major streets, public transportation, and nearby amenities.

Location Intelligence

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Apartment buildings

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Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6370634
Latitude: 41.7528555

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For sale
Apartment buildings
IL
Chicago
60620
500 W 78th Street

What type of property is this?

Apartment building - Three-story, 12-bedroom property in Auburn Park neighborhood.

Where is this apartment building located?

The property is located at 500 W 78th Street Chicago, IL.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: Large 12‑bedroom multifamily building with 16,152 SF of living area.; Oversized 11,200 SF lot zoned RT‑4, offering redevelopment potential.; Vacant property allows for immediate renovation, re‑tenanting, or repositioning.