Stabilized 8-Unit Apartment
For Sale
$825,000
Pending
5849 S Michigan Avenue, Chicago, IL 60637
Well-maintained eight-unit building with six 3-bedroom units and two garden-level units, plus recent repairs and updates.
Property SizeContact for details
Days on Market98
Property Features for 5849 S Michigan Avenue
General Information
Standard status
Pending
Property subtype
MULTI_FAMILY
Additional Details
Business Included
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$13,305
Building Details
Year Built
1908
Listing Agency:
Keller Williams Preferred Rlty
Listed By:
James Mattz · License #471014052
(708) 473-7508
Source:
Harkinsandassociates
Added: Jun 17
Changed: Sep 10
Last Checked: Sep 21 at 8:20AM
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 Keller Williams Preferred Rlty
Investment Insights
Based on property information with market context.
This stabilized eight-unit multifamily property offers a unit mix of six spacious 3-bedroom units and two garden-level units. The building has benefited from numerous recent repairs and improvements, including plumbing repairs, unit updates, concrete and patio work, door replacements, and ongoing maintenance.
The property is described as ideally located near Washington Park, public transportation, major expressways, the Green Line, and the newly opened Obama Presidential Center, positioned within Chicago’s evolving growth corridor.
For buyers seeking a well-kept residential income asset, the combination of larger unit layouts and continued maintenance supports the building’s day-to-day operational stability and long-term tenant retention, as presented in the property remarks.
The property is described as ideally located near Washington Park, public transportation, major expressways, the Green Line, and the newly opened Obama Presidential Center, positioned within Chicago’s evolving growth corridor.
For buyers seeking a well-kept residential income asset, the combination of larger unit layouts and continued maintenance supports the building’s day-to-day operational stability and long-term tenant retention, as presented in the property remarks.
Key Highlights
- Built in 1908, an 8‑unit multifamily building in Chicago’s Washington Park neighborhood
- Unit mix includes six 3‑bedroom units plus two garden‑level units
- Recent repairs and improvements include plumbing repairs, unit updates, concrete and patio work, and door replacements
Property Analytics
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Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained eight-unit building with six 3-bedroom units and two garden-level units, plus recent repairs and updates.
Where is this apartment building located?
The property is located at 5849 S Michigan Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Built in 1908, an 8‑unit multifamily building in Chicago’s Washington Park neighborhood; Unit mix includes six 3‑bedroom units plus two garden‑level units; Recent repairs and improvements include plumbing repairs, unit updates, concrete and patio work, and door replacements
