7544 S Essex Avenue, Chicago IL 60649
$399,999

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Property Description

OWNER-OCCUPANT & INVESTOR VALUE-ADD OPPORTUNITY IN SOUTH SHORE! Not turnkey. Not overdone. Full of potential. This solid all-brick 3-flat offers approximately 3,200 sq ft, 9 bedrooms, 3 baths, separate utilities and a full basement-with an opportunity to create value through cosmetic renovation. Owner-occupants: Live in one unit while renting the other two, with anticipated rental potential of approximately $4,600/month from the two rented units, subject to market conditions and tenant demand. Investors: Three units create multiple income streams with anticipated rents of approximately $2,300 per unit, or $6,900/month when fully rented. The strategy is simple: BUY RENOVATE RENT BUILD EQUITY Financing options may include FHA 203(k), Conventional Rehab, Cash, or Hard Money, subject to lender/investor approval, property eligibility, borrower qualifications and applicable loan terms. Located in South Shore amid significant public and private investment, including INVEST South/West, the Obama Presidential Center, THRIVE Exchange and 71st Street corridor investment. Future impact is not guaranteed, but the level of investment makes this an opportunity worth a closer look. This is where the opportunity begins: bring your vision, improve the property and create the value. Short sale. Sold AS-IS. Subject to lender approval. If you're looking for a property where the upside comes from what YOU do with it, don't let this one pass without running the numbers. Anticipated rents are estimates for illustrative purposes only. Actual rents, expenses, renovation costs and values may vary. Financing is subject to lender approval, borrower qualification, property eligibility and applicable terms. Buyer to independently verify all information and projections.

Features & Information

Key Details

  • List Price $399,999
  • Property Taxes $6,469
  • Year Built 1927
  • Status Price Change
  • List Market Time 75

Units

  • Unit 1

  • Floor 1
  • Rooms 6
  • Beds 3
  • Baths 1
  • Appliances None
  • Rent $1,450/mo
  • Tenant Pays Electric,Gas,Heat
  • Lease Expires M/M
  • Unit 2

  • Floor 2
  • Rooms 6
  • Beds 3
  • Baths 1
  • Appliances None
  • Rent $1,450/mo
  • Tenant Pays Electric,Gas,Heat
  • Lease Expires M/M
  • Unit 3

  • Floor 0
  • Rooms 6
  • Beds 3
  • Baths 1
  • Appliances None
  • Rent $1,450/mo
  • Tenant Pays Electric,Gas,Heat
  • Lease Expires M/M

Exterior Features

  • Parking

  • # of Cars:  3

Building Information

  • Number of Units 3
  • Age of Building 91-100 Years

Location

  • County Cook
  • Township South Chicago
  • Corporate Limits Chicago
  • Directions to Property Take Stony Island Ave Or The Chicago Skyway/lake Shore Dr South To 75th Street, Head East On 75th St To S Yates Blvd, Turn South To 75th St/essex Intersection, Then Turn East Onto Essex Ave.
  • Schools

  • Elementary School District 299
  • Junior High District 299
  • High School District: 299
  • Property Taxes

  • Tax 6469.26
  • Tax Year 2024
  • Tax Exemptions None
  • Parcel Identification Number 21303010210000

Listed by Yolanda Martin for Century 21 IMPACT | Source: MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 10/20/2026 6:02 AM. 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.  

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