7408 W 58th Street Summit, IL ^$ 799,000

7408 W 58th Street

^$ 799,000

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7408 W 58th Street

Summit, IL, 60501

^$ 799,000

Bedrooms10 Baths0.0

Monthly Estimate*

^$ 5,045

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Multi-Family Home for sale in Summit, IL

for $799,000 with 10 bedrooms. This home was built in 1966.

An exceptional turn-key cash flow opportunity awaits at 7408 W 58th St, a fully tenant-occupied, well-maintained 6-unit brick building designed for high-yield portfolio growth. Offering immediate, stabilized income from long-term tenants, this property features a highly desirable unit mix of four spacious 2-bedroom, 1-bathroom units and two efficient 1-bedroom, 1-bathroom units. Capital improvements include a roof replaced roughly six years ago, while value-add amenities like 5 exterior parking spaces, private tenant storage lockers, and an on-site coin-operated laundry facility drive extra passive revenue. Superbly managed and ideally situated near I-55 for effortless commutes into Chicago and surrounding suburbs, this rock-solid investment is a seamless plug-and-play addition to any portfolio.

Multi-Family Contingent

Price

^$ 799,000

Bedrooms

Property Type

Multi-Family

Taxes

^$ 14,335

Style

Multi-Family

Year Built

1966

Town/City

Summit

County/Region

Cook

MLS | Web ID

12750215

Features

General

Cooling Window Unit(s)

Roof Composition

Zoning MULTI

Construction Materials Brick

Year Built 1966

Electric Circuit Breakers Separate Meters

Tenant Pays Electricity

Stories Count 2

Township Lyons

Tax Year 2025

Current Use Multi-Family

Gross Income 63360

County Cook

Net Operating Income 35434

Operating Expense 27926

Insurance Expense 3700

Property Type Commercial Sale Multi Family 5+

Contingency Attorney/Inspection

MaintenanceExpense 0

Status Contingent

Directions Head south on Harlem Ave to 58th St. Turn right (west) on 58th St to address; property is on the south side of the street.

City Summit

Number Of Units Total 6

MLS Area Summit

Tax Annual Amount 14335.2

Electric Expense 570

Fuel Expense 4990

Trash Expense 865

Water Sewer Expense 3980

Additional Parcels Y/N N

Standard Status Active Under Contract

Cap Rate 4.4

Exterior

Foundation Details Concrete Perimeter

Lot Dimensions 43X125

* Excluded Features

List By

Baird & Warner

Broker

dan.ortiz@bairdwarner.com

Affordability Calculator

$6,240

Per Month

Monthly Principal & Interest: $5,045
Monthly Property Taxes: $1,195
Monthly Home Insurance: --

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Loan Term

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Yearly Home Insurance

Default based on a 30-year fixed rate of 6.49% 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 ^$500,850

Percent of Sale Price 37%

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.

565567 Elementary School

567955 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
9/8/2026	$799,000		Listed Price

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7408 W 58th Street, Summit, IL, 60501 is a Multi-Family Home for sale at $799,000. 7408 W 58th Street has 10 bedrooms, 0.0 baths, and was built in 1966. 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 6.49% 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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Data is updated as of 9/30/2026.

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7408 W 58th Street

Multi-Family Home for sale in Summit, IL

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