7751 S Phillips Avenue, Chicago IL 60649
Property Description
Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.
Features & Information
Key Details
- List Price $400,000
- Property Taxes $3,388
- Year Built 1923
- Status Re-activated
- List Market Time 270
Units
-
Unit 1
- Floor 1
- Rooms 6
- Beds 2
- Baths 1.1
- Appliances Stove, Refrigerator, Dishwasher, Window Air Conditioner
- Rent $0/mo
- Tenant Pays Electric,Gas
- Lease Expires NA
-
Unit 2
- Floor 2
- Rooms 5
- Beds 2
- Baths 1
- Appliances Stove, Refrigerator, Dishwasher, Window Air Conditioner
- Rent $1,400/mo
- Tenant Pays Electric,Gas
- Lease Expires NA
-
Unit 3
- Floor 3
- Rooms 6
- Beds 3
- Baths 1
- Appliances Stove, Refrigerator, Dishwasher, Window Air Conditioner
- Rent $0/mo
- Tenant Pays Electric,Gas
- Lease Expires NA
Exterior Features
-
Parking
- # of Cars: 3
Building Information
- Number of Units 3
- Age of Building 100+ Years
Location
- County Cook
- Township Hyde Park
- Corporate Limits Chicago
- Directions to Property 79th Street To Yates Boulevard North To 77th East To Phillips Then South To The Property.
-
Schools
- Elementary School District 299
- Junior High District 299
- High School District: 299
-
Property Taxes
- Tax 3388
- Tax Year 2023
- Parcel Identification Number 21303190150000
Listed by Jason Marsing for Fulton Grace Realty | Source: MRED as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 11/7/2026 4:02 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Explore South Shore
Historic parks and extensive beaches meet down-to-earth, affordable living in this beautiful south side Chicago neighborhood. South Shore is a sprawling community that encompasses expansive public recreation space and ambitious civic organizations. The neighborhood cultural center acts as a hub for outdoor amusement with lengthy walking trails, a bird sanctuary, all-ages sports programs, and waterfront grounds that offer breathtaking views of downtown Chicago. When night falls in the summer, movies and live music take place at the center, bringing neighbors and families together. A healthy retail corridor along 71st Street gives the area a cosmopolitan touch and the selection of down-home cooking available at the restaurants in South Shore is enough to satisfy any comfort food craving.
Mortgage Calculator
- List Price${ formatCurrency(listPrice) }
- Taxes${ formatCurrency(propertyTaxes) }
- Assessments${ formatCurrency(assessments) }
- List Price
- Taxes
- Assessments
Estimated Monthly Payment
${ formatCurrency(monthlyTotal) } / month
- Principal & Interest${ formatCurrency(monthlyPrincipal) }
- Taxes${ formatCurrency(monthlyTaxes) }
- Assessments${ formatCurrency(monthlyAssessments) }
All calculations are estimates for informational purposes only. Actual amounts may vary.