512-516 E 47th Street Chicago, IL ^$ 399,000

512-516 E 47th Street

^$ 399,000

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512-516 E 47th Street

Chicago, IL, 60653

^$ 399,000

Bedrooms-- Baths-- Sq 5,000

Monthly Estimate*

^$ 2,489

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Commercial Property for sale in Chicago, IL

for $399,000. This 5,000 square foot building was built in 1940 on a lot size of 0.18859.

LOCATION, LOCATION, LOCATION! Large, brick (approximately 5,000 sq/ft) building on the bustling and hot 47th Street corridor, just steps from the Harold Washington Cultural Center! This one has a ton of potential; building needs work but is solid and has a great footprint. Currently split into 2 first floor units, which can be kept that way or combined into one larger space. Spacious and open second floor provides ample additional space for apartments, offices, etc. Rear of building has an outdoor area and another brick building with plenty of space. BRING YOUR IDEAS, THIS ONE WILL NOT LAST LONG!

Commercial Active

Price

^$ 399,000

Property Type

Commercial

Taxes

^$ 19,729

Style

Lot Size

0.18859

Year Built

1940

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12498241

Features

General

Cooling None

Possession Closing Immediate

Zoning COMMR

Construction Materials Brick

Year Built 1940

Electric Circuit Breakers

Stories Count 2

Township Hyde Park

Tax Year 2023

Gross Income 0

County Cook

Net Operating Income 0

Insurance Expense 0

Property Type Commercial Sale Retail/Stores

Status Active

Directions East of King Drive on 47th Street to Property North side of Street.

City Chicago

Number Of Units Total 2

MLS Area CHI - Grand Boulevard

Lot Size Square Feet 8215

Tax Annual Amount 19729.79

Electric Expense 0

Fuel Expense 0

Trash Expense 0

Water Sewer Expense 0

Additional Parcels Y/N N

Leasable Area 0

Standard Status Active

Exterior

Building Area Total 5000

Lot Dimensions 68.75' x 120'

* Excluded Features

List By

Fulton Grace Realty

Broker

brian.huffman@fultongrace.com

Affordability Calculator

$4,133

Per Month

Monthly Principal & Interest: $2,489
Monthly Property Taxes: $1,644
Monthly Home Insurance: --

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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

Commerical listings in Chicago, IL

Average List Price ^$1,040,274

Percent of Sale Price 161%

About Chicago, IL

2,755,380 Population

-4% Since 2002

^$53,088 Median Income

36.07 Median Age

25% 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
10/17/2025	$399,000		Listed Price

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512-516 E 47th Street, Chicago, IL, 60653 is a Commercial Property for sale at $399,000 with 5,000 sqft and a lot size of 0.18859. 512-516 E 47th Street was built in 1940. The property's zip code is 60653 which is in Chicago, 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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Data is updated as of 12/13/2025.

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512-516 E 47th Street

Commercial Property for sale in Chicago, IL

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