7544 S Essex Avenue
Chicago, IL, 60649 $ 425,000
Bedrooms9 Baths3.0 Sq 4,500 Monthly Estimate*
$ 2,935
for $425,000 with 9 bedrooms and 3 full baths. This 4,500 square foot home was built in 1927 on a lot size of 0.08.
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.
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FeaturesGeneralSewer Public Sewer
Heating Natural Gas
Possession Immediate
Zoning MULTI
Garage Spaces 3
Construction Materials Brick
Year Built 1927
Township South Chicago
Tax Year 2024
Ownership Fee Simple
Community Features Gated Sidewalks Street Lights Street Paved
County Cook
New Construction N
Property Type Residential Income Two to Four Units
Total Rooms 18
Status Active
Directions 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.
City Chicago
High School District 299
MLS Area CHI - South Shore
Tax Annual Amount 6469.26
Additional Parcels Y/N N
Standard Status Active
Middle/Junior School District 299
Elementary School District 299
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InteriorBasement Partially Finished Full
Total Bedrooms 9
Total Baths 3
Bedrooms Possible 9
Full Baths Building 3
Half Baths Building 0
Total Number of Units 3
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ExteriorParking Features Yes Detached Garage
Water Source Lake Michigan
Total Parking 3
Lot Dimensions 3720 SQ FT
Lot Size Acres 0.08
Waterfront Y/N N
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* Excluded FeaturesList Bymuchtudure@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $2,935
- Monthly Property Taxes
- $539
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% 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.
Learn more about how to save NearbyMulti-family listings in Chicago, IL
Average List Price $639,246
Percent of Sale Price 50%
About Chicago, IL 2,755,380 Population
-4% Since 2002
$ 53,088 Median Income
36.07 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
566059 Elementary School
566846 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 8/5/2026 | $399,000 | | Listed Price |