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Listed by David Thomas • Blue Door Dave Inc
$ 399,000
Est. payment /mo
Active
6049 S Champlain Avenue Chicago, IL 60637
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12416166
Year Built 1903
Annual Tax Amount $2,473
Tax Year 2023
Lot Dimensions 3000
Property Sub-Type Multi Family 5+
Property Description
Turnkey SRO Investment Opportunity in Charming Greystone! Discover a long-established Single Room Occupancy (SRO) greystone property, thoughtfully managed by the current owner. Featuring 8 rooms across what appears to be a 2-unit structure with a finished basement, it has served senior tenants with distinction for years. Why this property stands out: High demand: SROs offer affordable housing for community members on tight budgets. Income flexibility: Continue with the existing 8 tenants, or increase revenue by adding a 9th tenant in the basement. Value-adding refresh: Convert legally to a 3-4 unit building, potentially elevating market value to approximately $900K. Spacious lot: The wide parcel provides potential for enhancements, expansion, or additional amenities. Investor, owner-operator, or developer? This greystone offers multiple paths: Keep it as is and sustain immediate rental income. Expand to maximize rental revenue. Reconfigure zoning to residential to appeal to traditional multi-unit buyers. Bottom line: This property delivers income stability, long-term value creation, and structural flexibility-all wrapped in the enduring charm of a classic greystone. Schedule your showing today and explore the possibilities!
Location
State IL
County Cook
Zoning MULTI
Rooms
Basement Finished
Interior
Fireplace N
Exterior
View Y/N true
Roof Type Rubber
Building
Foundation Concrete Perimeter
Structure Type Brick,Concrete,Stone,Limestone
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