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Property Description

Excellent opportunity to acquire a stabilized 8-unit multifamily property in the rapidly evolving Washington Park neighborhood. The building features a desirable unit mix of six spacious 3-bedroom units and two garden-level units, offering strong rental demand and long-term investment potential. The property has benefited from numerous recent repairs and improvements, including plumbing repairs, unit updates, concrete and patio work, door replacements, and ongoing maintenance. Large unit layouts appeal to families and long-term tenants, helping support occupancy and tenant retention. Ideally located near Washington Park, public transportation, major expressways, the Green Line, and the newly opened Obama Presidential Center, the property is positioned to benefit from continued investment and redevelopment throughout the surrounding area. Whether you're expanding your portfolio or seeking a well-maintained multifamily asset in one of Chicago's emerging growth corridors, this building offers an attractive combination of stability, location, and future upside.

Features & Information

Key Details

List Price $949,000
Property Taxes $13,305
Price/ Sq. Ft. Unavailable
Year Built 1908
Status Active

Building Information

Age of Building Older
Exterior Construction Brick
Heating & Cooling Radiators

Location

County Cook
Directions to Property Northeast Corner Of S Michigan Ave & E 59th St.

Property Taxes
Tax 13305
Parcel Identification Number 20151210140000

Listed by: Realty of America, LLC | Phone: 708.788.1900
Source: MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 6/24/2026 7:32 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 Washington Park

For now Chicago's Washington Park neighborhood may be a predominantly residential south side community with a sprawling public park and rich culture of African-American heritage, however, as the potential site of the Olympic Stadium for the 2016 Summer Games, this modest neighborhood could really make its mark in the near future. Remnants of the last century's architectural movement are found throughout the area, with a wave of new designs and gut rehabs dusting the streets as well. As Olympic talk heightens, developers and city officials are anticipating the impact such a huge event would have on Washington Park. Temporary athlete lodgings and the massive 80,000-seat arena would only be around for a short period, but the hope is that a surge of new businesses would ride in on the coattails of this once-in-a-lifetime opportunity to bolster the Washington Park neighborhood for decades to come. The current commercial base is slight, with a few soul food mainstays and Chinese takeout, but the annual cultural festivals and fun Park District programs keep things on the up as Washington Park awaits an impending transformation of Olympic proportions.

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