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USAILChicago8612 S Burnham Ave
Listing image | Image 1

8612 S Burnham Ave, Chicago, IL

House

For Sale

Listed price in listed location currency (USD).
$489,900

841

MLS® 12734871

Overview

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage 
Taxes $1,092
Days Active 0
Lot Size 
Approx. Age 1898
MLS® Number 12734871

Property Address: 8612 S Burnham Ave, CHICAGO, IL, 60617-3104

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

Description

Calling all HOUSE HACKERS, OWNER-OCCUPANTS & INVESTORS! This legal 3-unit in South Chicago has been completely gut rehabbed, offering the opportunity to step into a finished multifamily property without taking on a renovation project. Live in one unit while generating income from the others or lease all three and add a turnkey property to your rental portfolio. The property features (2) 2-bedroom/1-bath units and (1) spacious 4-bedroom/2-bath unit, totaling 8 bedrooms and 4 bathrooms. Based on projected rents of approximately $1, 500/month for each 2-bedroom unit and $2, 400/month for the 4-bedroom unit, the property has the potential to generate approximately $5, 400/month or $64, 800 annually in rental income when fully leased. Projected rents are estimates and should be independently verified by the buyer. The extensive gut renovation includes new electrical, new plumbing, a new HVAC system with central air conditioning, new kitchens and bathrooms, updated flooring and a new rear porch. Kitchens feature a modern two-tone design with white upper cabinetry, black lower cabinetry, granite countertops and stainless-steel appliances. The property is a legal 3-unit with separately metered units. There is also potential to generate income beyond the three residential units. The basement includes three separate storage spaces that could potentially be rented, along with a laundry hookup allowing the next owner to add coin-operated laundry for tenant use. The rear parking pad provides off-street parking and another potential source of income. Beyond the property, South Chicago is in the midst of significant reinvestment and transformation, with major residential, commercial, healthcare and technology projects moving forward throughout the area. Thrive Exchange represents approximately $100 million in community investment around the 79th and Exchange corridor, bringing new housing, homeownership opportunities, retail, healthcare and other neighborhood improvements. The SACRED development at 92nd and Burley is adding 81 apartments, approximately 6, 000 square feet of commercial space and additional parking. One of the largest transformations is underway along the South Chicago lakefront at the former U.S. Steel South Works site. The 440-acre Quantum Shore master plan includes the 128-acre Illinois Quantum & Microelectronics Park, with major public and private investment aimed at creating a new technology and innovation district along the lakefront. Adding to that investment, Advocate Health Care has broken ground on a new $300 million state-of-the-art hospital at the former South Works site as part of its broader $1 billion investment in healthcare across Chicago's South Side. The new hospital is planned to provide inpatient, emergency and specialty care and is expected to open in 2029. Together with the quantum campus, new housing, commercial development and other neighborhood investments, these projects represent a substantial long-term commitment to the continued redevelopment of South Chicago. Residents also have convenient access to Rainbow Beach, the lakefront, Metra, public transportation, neighborhood amenities and major roadways. For a house hacker, this is an opportunity to live in one unit while income from the remaining units helps reduce housing costs. For an investor, the property offers three residential income streams plus additional revenue potential through storage, laundry and parking-all within a completely renovated legal 3-unit in a neighborhood experiencing significant ongoing investment.
MLS® Number12734871
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1898
BasementUnfinished, Full
DrivewayYes
Garage Spaces
HeatNatural Gas, Electric
A/C

Extras

Price History

Last Sold Price

$165,000$165K

Appreciation

--

Avg. Days Listed

67 days

Today, For Sale for $489,900

For Sale · 0 days

$489,900

MLS® 12734871

3 hours ago

Not Sold Yet

September 2026, For Sale for $489,900

For Sale · 0 days

$489,900

MLS® 12734871

3 hours ago

Not Sold Yet

March 2025, Sold for $165,000

Sold · 67 days

$165,000$209,000

MLS® 12269293

A year ago

Sold on Mar 26, 2025

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