7042 S Michigan Ave, Chicago, IL

Name: 7042 S Michigan Ave, For Sale in Chicago - Zoocasa
Brand: @properties Commercial
SKU: 12762329
Price: 1700000 USD

House

For Sale

Listed price in listed location currency (USD).

$1,700,000

000

MLS® 12762329

Overview

Key Facts

Type

Levels Commercial Sale

Size -

Garage

Taxes $31,248

Days Active 0

Lot Size

Approx. Age 1925

MLS® Number 12762329

Property Address: 7042 S Michigan Ave, Chicago, IL, 60637-4557

Average square foot calculated using Size range provided by listing agent.

Description

32-unit courtyard building in Chicago's Greater Grand Crossing submarket, offered at $1, 700, 000 ($53, 125/unit | $75.89/SF). This 1925-built, ~22, 400 SF brick courtyard property spans four entrances (7042, 7044, 7046, 7048) and delivers immediate in-place income with clear upside baked into the rent roll. Sub-$60K/unit basis with income already in place, as only two units require lease-up. Rents are meaningfully below market across the entire mix, giving a new owner a straightforward, low-risk path to NOI growth without a heavy capex program. Porches were replaced in 2007, with permitted repairs completed in 2019. Situated in Greater Grand Crossing, a renter-dominant submarket with strong transit reliance, supporting durable workforce rental demand - a large share of households have no vehicle and rely on transit for commuting. Healthcare and education anchor local employment, with the Loop as the largest commuter destination. The property sits within a short drive of University of Chicago, UChicago Medicine, Jackson Park, the DuSable Museum, and the Obama Presidential Center, with everyday retail (Walgreens, ALDI, Dunkin', Subway, Mobil) all within a mile. Offering Memorandum with staged interior photos available upon request.

MLS® Number12762329

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1925

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Map

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