Renovated Woodlawn Two-Unit
6542 S Champlain Avenue, Chicago, IL 60637
New
MULTI_FAMILY - Chicago, IL
Property size:
2,000 SFLot size:
0.06 AcresPrice / SF:
$295/SF- Added:
- May 30, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 2 at 7:06 pm
Property Features for 6542 S Champlain Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Basement, Bedroom 6, Bedroom 1, Bathroom 2
- Parking
- 2
- Parking features
- Garage
- Basement
- Finished, Full
- Standard status
- Active
- APN
- 20222200360000
- Size
- 2,000 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8867
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1913
- Building materials
- Brick
Listing agent Shanell Bowden (312) 216-2422
Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL (312) 216-2422
Listing date May 30, 2026
MLS# 12663166
Listing URL
Copyright © 2026 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.
HighLights
- Fully occupied 2‑unit investment property providing immediate and consistent rental income.
- Both units renovated in 2021 with modern finishes.
- Unit 1 features a spacious 3‑bedroom, 2‑bathroom layout with 2000+ sqft and access to a finished basement.
- Unit 2 is leased until May 2027, ensuring long‑term rental income.
- Detached 2‑car garage with a Level 2 EV Charger.
- Convenient location near the University of Chicago, Medical Center, parks, transportation, and shopping.
Overview
This fully occupied two-unit property is located in Chicago's Woodlawn area. The property was fully renovated in 2021. Unit 1 features over 2000 square feet of living space. Located on the first floor, it provides access to a finished basement and includes a 3-bedroom, 2-bathroom layout with a primary suite and modern open-concept living. Unit 2 offers 1700 square feet of living space and includes a 3-bedroom, 1-bathroom layout. This unit is currently leased until May 2027, providing immediate rental income. Both units feature hardwood floors, custom cabinetry, stainless-steel appliances, in-unit laundry, and central A/C. A detached 2-car garage is located on-site and includes a Level 2 EV Charger. The property is conveniently located near the University of Chicago campus and Medical Center, parks, transportation, and shopping. It is approximately 10 minutes from Washington Park and the lakefront. The lot size is 0.06 acres.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.4k | $25.20 |
| − Vacancy | −$2.8k | −$1.39 |
| EGI | $47.6k | $23.81 |
| − OpEx | −$14.3k | −$7.14 |
| NOI | $33.3k | $16.67 |
2,000 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$476.3K
$416.8K – $555.7K
NOI $33,340 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$438.0K
$383.2K – $511.0K
NOI $30,658 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$943.0K
$825.1K – $1.10M
NOI $66,010 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.609814
- Latitude
- 41.775461
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Fully renovated, fully occupied two-unit property in Chicago's Woodlawn area.
Where is this duplex located?
The property is located at 6542 S Champlain Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Fully occupied 2‑unit investment property providing immediate and consistent rental income.; Both units renovated in 2021 with modern finishes.; Unit 1 features a spacious 3‑bedroom, 2‑bathroom layout with 2000+ sqft and access to a finished basement.
