Building Details

Year Built 1925

Construction brick

Listing Agency: Wirtz Real Estate Group Inc Show Phone

Listed By: Shopping Casas Show Phone

Source: Shoppingcasaschicago

Added: Aug 21 Changed: Aug 31 Last Checked: Sep 1 at 6:10PM

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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 Wirtz Real Estate Group Inc

Investment Insights

Based on property information with market context.

This gated brick triplex contains three apartments, each with 3 bedrooms, a formal dining room, restored hardwood flooring, an updated kitchen with quartz countertops and stainless steel appliances, and refreshed bathrooms with new fixtures and tile. Separate heating systems, individual water heaters, central A/C, washer/dryer hookups, updated windows and flooring, and upgraded copper, waste, and electrical systems support each unit. The apartment building and garage have new roofs, while the rear porch has been rebuilt.

A full basement provides storage and additional income potential. The property is within an approved zoning area for adding a legal 4th unit, with the required ceiling height and both front and rear entrances already in place. One garage space is provided per unit. The property is near Rainbow Beach, the Obama Library, public transportation, schools, places of worship, restaurants, and shopping. Built in 1925, it is located at 7641 S Phillips Ave in Chicago’s South Shore area.

Key Highlights

• Three 3‑bedroom apartments with formal dining rooms and restored hardwood floors
• Approved zoning area for a legal 4th basement unit
• Full basement with required ceiling height and front and rear entrances

Property Analytics

Property Profile

Current Use

Triplexes

Suggested Use

Top Pick Law Firm Building Supply (Bike/Boat/Book/etc) Store HVAC Service Storage Facility Locksmith

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

1,068

Businesses Nearby

Explore this area Business Placement

Demographics for 60649, IL

48,171

Population

28,249

Households

1.7

Avg Household Size

39

Median Age

25%

College-Educated

89%

High-School Grad

3.6 sq mi

ZIP Area

13,381

Density / Sq Mi

$40,142

Median Household Income

$36,474

Median Earnings

$1,066

Median Rent

$199,500

Median Home Value

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?

Triplex - Three spacious apartments combine refreshed interiors, private laundry hookups, central A/C, and a full basement.

Where is this triplex located?

The property is located at 7641 S Phillips Ave Chicago, IL.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Three 3‑bedroom apartments with formal dining rooms and restored hardwood floors; Approved zoning area for a legal 4th basement unit; Full basement with required ceiling height and front and rear entrances