28-Unit Multifamily
For Sale
$499,000
7847 South Essex Avenue, Chicago, IL 60649
Vacant 28-unit multifamily property with commercial, one-bedroom, and studio units, requiring extensive renovation.
Property Size10,250 SF
Price / SF$48.68
Days on Market171
Property Features for 7847 South Essex Avenue
General Information
Standard status
Active
Size
10,250 SF
Property subtype
Multi Family 5+ / Multi Family 5+-Other
Zoning
COMMR
Additional Details
Multifamily Units
28
Taxes and HOA fees
Annual Taxes
$40,134
Building Details
Year Built
1926
Stories
3
Listing Agency:
Keller Williams ONEChicago
Listed By:
Rashauna Scott · License #475178242
(773) 885-6263
Source:
Compass
Added: Mar 19
Changed: Aug 8
Last Checked: Jul 20 at 5:13PM
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 ONEChicago
Investment Insights
Based on property information with market context.
7847 S Essex Ave is a vacant 28-unit multifamily property configured with 6 commercial units, 14 one-bedroom units, and 8 studios. The building is being offered as a redevelopment and value-add opportunity, with extensive renovation needed throughout.
The property is positioned in Chicago’s South Shore neighborhood with reported close proximity to public transportation, Lake Shore Drive, and nearby local attractions including the Obama Library, the Museum of Science & Industry, and the South Shore Cultural Center. The remarks also cite proximity to a Quantum Computing Campus development.
For a buyer seeking to reposition a larger residential income asset, the unit mix supports a blended approach across commercial and residential tenancies, with the current condition indicating a significant renovation scope required before re-occupancy.
The property is positioned in Chicago’s South Shore neighborhood with reported close proximity to public transportation, Lake Shore Drive, and nearby local attractions including the Obama Library, the Museum of Science & Industry, and the South Shore Cultural Center. The remarks also cite proximity to a Quantum Computing Campus development.
For a buyer seeking to reposition a larger residential income asset, the unit mix supports a blended approach across commercial and residential tenancies, with the current condition indicating a significant renovation scope required before re-occupancy.
Key Highlights
- 28‑unit multifamily building in Chicago's South Shore neighborhood (Year built: 1926).
- Unit mix includes 6 commercial units, 14 one‑bedroom units, and 8 studio units.
- Property is currently vacant and needs extensive renovation.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
962
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Vacant 28-unit multifamily property with commercial, one-bedroom, and studio units, requiring extensive renovation.
Where is this apartment building located?
The property is located at 7847 South Essex Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 28‑unit multifamily building in Chicago's South Shore neighborhood (Year built: 1926).; Unit mix includes 6 commercial units, 14 one‑bedroom units, and 8 studio units.; Property is currently vacant and needs extensive renovation.
