7548 W 61st Street Summit, IL ^$ 350,000

7548 W 61st Street

^$ 350,000

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7548 W 61st Street

Summit, IL, 60501

^$ 350,000

Bedrooms8 Baths5.0

Monthly Estimate*

^$ 2,184

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Multi-Family Home for sale in Summit, IL

for $350,000 with 8 bedrooms and 5 full baths. This home was built in 1915.

Great investment opportunity! This legal 4-unit frame building offers tremendous potential and is being sold as-is. The property includes two 2BD/1BA units in the front and two smaller rear units with more compact bedrooms. City violations are present, and the Village of Summit requires the buyer to post a $30,000 bond. Cash offers preferred. Don't miss this value-add opportunity with excellent upside for the right investor.

Multi-Family Active

Price

^$ 350,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 6,987

Style

Year Built

1915

Town/City

Summit

County/Region

Cook

MLS | Web ID

12519853

Features

General

Sewer Public Sewer

Heating Natural Gas Forced Air Steam

Possession Negotiable Tenant's Rights

Roof Asphalt

Garage Spaces 2

Construction Materials Frame

Year Built 1915

Township Lyons

Tax Year 2024

Ownership Fee Simple

Gross Income 52800

County Cook

New Construction N

Property Type Residential Income Two to Four Units

Total Rooms 15

Status Active

Directions Harlem to 61st Street west to the property address

High School Argo Community High School

City Summit

High School District 217

MLS Area Summit

Tax Annual Amount 6987

Standard Status Active

Middle/Junior School District 104

Elementary School District 104

Interior

Basement Partially Finished Full

Total Bedrooms 8

Total Baths 5

Bedrooms Possible 8

Full Baths Building 5

Half Baths Building 0

Total Number of Units 4

Exterior

Parking Features Yes Detached Garage

Water Source Public

Total Parking 2

Lot Dimensions 30x125

Waterfront Y/N N

* Excluded Features

List By

Coldwell Banker Realty

Broker

chicagoagent312@gmail.com;Jose.Hernandez@CBexchange.com

Affordability Calculator

$2,766

Per Month

Monthly Principal & Interest: $2,184
Monthly Property Taxes: $582
Monthly Home Insurance: --

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Down Payment

Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Summit, IL

Average List Price ^$432,813

Percent of Sale Price 24%

About Summit, IL

10,949 Population

3% Since 2002

^$47,359 Median Income

33.33 Median Age

45% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

564553 Elementary School

564996 Middle School

Argo Community High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/18/2025	$350,000		Listed Price

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7548 W 61st Street, Summit, IL, 60501 is a Multi-Family Home for sale at $350,000. 7548 W 61st Street has 8 bedrooms, 5.0 baths, and was built in 1915. The property's zip code is 60501 which is in Summit, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Weichert Realtors are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Data is updated as of 12/23/2025.

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7548 W 61st Street

Multi-Family Home for sale in Summit, IL

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