8548 Exchange Avenue, South Chicago, Chicago, Illinois 60617
$340,000
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For Sale
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| Status: | Contingent |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 8 |
| Baths: | 0 |
| Year Built: | 1924 |
| Property Taxes: | $2,532 |
| Days On Market: | 179 |
| Lot Size: | 0,10 |
Description
Buyer financing fell through! Welcome to this very well maintained brick 2-unit brick! This building is located in the heart of South Chicago and uniquely offers 4 bedrooms per floor! New hot water tank and furnace for Unit 2, new A/C for Unit 1. Tenants pay their own utilities and there is a 2 car brick garage. Unit 1 features 4 spacious bedrooms, 1 bathroom, a light-filled living room, and a functional kitchen with ample cabinet space. Unit 2 features 4 generous bedrooms, 1 bathroom, a large living area, and an updated kitchen perfect for entertaining. There is a full unfinished basement, ideal for additional storage or future development. One of the only properties on the block with a private driveway (that fits at least 4 cars) and good sized backyard, perfect for relaxing or entertaining. A few key updates are a newer roof (installed within the last 5 years), updated plumbing and electrical systems, renovated 2nd floor, well-maintained interiors in both units. Whether you're an investor seeking a high-performing rental property (.09 cap rate) or a homeowner looking for rental income, this property is a perfect fit! There is a long term tenant on the 1st floor and the 2nd floor is recently vacant but was rented for $1700! The current annual expenses are low! Only $3,100 with a previous income of 36,000 and projected income of $40,800! ($1700 per unit). Located less than a mile from the new ground-breaking 128 acre 'Quantum Shore' development. This property is minutes from Lake Michigan, parks, and local shops. Enjoy easy access to public transportation, major highways, and the developing South Shore and South Chicago area. The location offers great potential as the neighborhood continues to grow and attract smart homeowners and investors. Schedule your private showing today!
Property Specifics
| Multi-unit | |
| — | |
| — | |
| 1924 | |
| — | |
| — | |
| No | |
| 0.1 |
| Cook | |
| — | |
| — / — | |
| — | |
| — | |
| — | |
| 12373801 | |
| 21314180390000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 31 Oct, 2016 | Sold | $45,500 | MRED MLS |
| 4 Oct, 2016 | Under contract | $35,000 | MRED MLS |
| 13 Sep, 2016 | Listed for sale | $35,000 | MRED MLS |
| 13 Aug, 2021 | Sold | $275,000 | MRED MLS |
| 21 Jun, 2021 | Under contract | $258,000 | MRED MLS |
| 20 May, 2021 | Listed for sale | $258,000 | MRED MLS |
| 13 Oct, 2025 | Under contract | $340,000 | MRED MLS |
| 23 May, 2025 | Listed for sale | $340,000 | MRED MLS |
Room Specifics
Total Bedrooms: 8
Bedrooms Above Ground: 8
Bedrooms Below Ground: 0
Dimensions: —
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Full Bathrooms: 2
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: —
Other Specifics
| 2 | |
| — | |
| — | |
| — | |
| — | |
| 4687 | |
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| Not in DB | |
| — | |
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| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2016 | $3,361 |
| 2021 | $2,315 |
| 2025 | $2,532 |
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Listing Provided By
Keller Williams ONEChicago
