619 E Groveland Park Chicago, IL $ 1,200,000
619 E Groveland Park
$ 1,200,000
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619 E Groveland Park

Chicago, IL, 60653
$ 1,200,000
Bedrooms3 Baths0.0

Monthly Estimate*

$ 7,389

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Multi-Family Home for sale in Chicago, IL

for $1,200,000 with 3 bedrooms. This home was built in 1904.

Pleased to present 619 E. Groveland Park, a 7-unit multifamily investment located within the gated, landmarked Groveland Park community in Chicago's Bronzeville neighborhood. Offered at a list price of $1,200,000, the property provides an opportunity to acquire an apartment asset in one of Chicago's most architecturally significant and supply-constrained submarkets, with a light value-add plan supported by a $50,000 renovation budget. Originally constructed in the early 1900s and thoughtfully revitalized, the property encompasses approximately 5,697 square feet across a unit mix of (3) 2-bedroom + den / 1-bath units and (4) 1-bedroom / 1-bath units, plus a garden unit. Unit sizes generally range from approximately 525-950 SF (with the garden at ~650 SF), featuring efficient layouts and individual unit appeal that support operational stability and long-term tenant retention. In-place financial performance is strong and stabilized. The asset is currently generating $127,800 in gross annual rental income ($10,650/month). With a 4% vacancy assumption (-$5,152) and $1,008 in annual laundry income, effective gross income totals approximately $123,656. Operating expenses are efficiently managed at approximately $30,171 (a 24% expense ratio), resulting in a current NOI of $93,484. Value-add upside is clear and executable via a light renovation program. A $50,000 renovation budget (light interior enhancements and unit turns) supports mark-to-market rent growth from $10,650/month to $13,200/month (gross annual rent from $127,800 to $158,400). Under the pro forma scenario (still assuming 4% vacancy and $1,008 in laundry income), effective gross income increases to approximately $153,032, with total expenses of approximately $31,377 (a 21% expense ratio), producing a pro forma NOI of $121,655. On a total cost basis of $1,250,000 (purchase price + $50,000 renovation), this equates to an estimated 9.73% pro forma cap rate and a 7.89 GRM on total basis. At the offered price, the asset is positioned at approximately $211/SF and $171,429/unit, aligning well with boutique multifamily pricing in Bronzeville and the broader South Lakefront. A sample financing scenario utilizing 80% LTV ($960,000 loan), 6.00% interest, and 30-year amortization results in an estimated annual debt service of approximately $69,068 and a 1.35x DSCR under the pro forma. This structure generates projected net cash flow of $24,416 in-place (10.17% cash-on-cash on $240,000 equity) and $52,587 post-renovation (18.13% cash-on-cash on $290,000 total equity, inclusive of the $50,000 renovation budget). Beyond the numbers, 619 E. Groveland Park benefits from its irreplaceable setting within a gated historic park environment-offering residents a quiet, residential atmosphere rarely found this close to Downtown Chicago-while still providing convenient access to Lake Shore Drive, major employment centers, public transit, and continued investment activity throughout Bronzeville. This offering is ideally suited for investors seeking durable in-place income with measured value-add upside, minimal operational disruption, and strong long-term appreciation fundamentals. With a modest $50,000 light-renovation plan to capture rent premiums, 619 E. Groveland Park delivers stabilized cash flow today and a clear path to enhanced returns tomorrow-within one of Chicago's most iconic and supply-restricted residential enclaves.

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Multi-Family Active

Price

$ 1,200,000

Bedrooms

3

Property Type

Multi-Family

Taxes

$ 13,510

Style

Year Built

1904

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12573303

Features
General
Zoning MULTI
Construction Materials Brick
Year Built 1904
Electric Circuit Breakers
Tenant Pays Electricity Heat
Stories Count 3
Township Hyde Park
Tax Year 2024
Gross Income 0
County Cook
Net Operating Income 0
Operating Expense 0
Insurance Expense 0
Property Type Commercial Sale Multi Family 5+
MaintenanceExpense 0
Status New
Directions Turn right onto W 35th St Turn right onto E Groveland Park
City Chicago
Number Of Units Total 7
MLS Area CHI - Douglas
Tax Annual Amount 13510
Electric Expense 0
Fuel Expense 0
Trash Expense 0
Water Sewer Expense 0
Additional Parcels Y/N N
Standard Status Active
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Exterior
Foundation Details Concrete Perimeter
Lot Dimensions 25 X 125
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* Excluded Features
List By
Keller Williams Onechicago

Broker

tonyhardy@kw.com;Investment@kwcomercial.com

Email

Affordability Calculator

$8,514
Per Month
87%
13%
0%
Monthly Principal & Interest
$7,389
Monthly Property Taxes
$1,126
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
2/20/2026$1,200,000 Listed Price

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619 E Groveland Park, Chicago, IL, 60653 is a Multi-Family Home for sale at $1,200,000. 619 E Groveland Park has 3 bedrooms, 0.0 baths, and was built in 1904. The property's zip code is 60653 which is in Chicago, IL