A RARE FIND ON 61ST STREET! This versatile mixed-use 3-unit property is more than a building-it offers limitless possibilities for the savvy entrepreneur or investor. Currently generating income from multiple uses, this property offers the unique opportunity to live in, operate, lease, expand, or reimagine the space to fit your investment strategy. Walking distance to Obama Presidential Center, University of Chicago, and UChicago Medicine, the property offers a compelling location for short-term guests, residents, and entrepreneurs. The first-floor commercial space currently operates as a 4.9-star Airbnb, with furniture and furnishings included. Recently renovated, it features touchless faucets, an LED vanity mirror with Bluetooth/anti-fog technology, a Bluetooth-enabled LG range, and new LG appliances. Smart locks, USB outlets, and 2025 entry doors add modern convenience and security. The first floor is a flexible commercial space that could be utilized as an event space, restaurant, liquor store, or residential expansion, including a potential duplex with the basement. The second floor features a 4-bedroom, 2-full-bath income-producing shared co-living space. The second and third floors each feature a gas fireplace and private balcony. Each floor has in-unit laundry, central air conditioning, a Nest thermostat, and its own hot water heater. Major improvements include a roof approximately 4 years old, windows replaced in 2022 and 2025, furnaces replaced within the last 5 years, a new garage door in 2025, and new entry doors in ...
+ Read More| Listing Id: | 12775307 |
|---|---|
| List Price: | $850,000 |
| Property Type: | Commercial Sale |
| Property Type: | Mixed Use |
| Status: | Active |
| Parking On Site: | No |
| Tax Annual Amount: | $3,010 |
| Lot Size Square Feet: | 2,750 |
| City: | Chicago |
| County Or Parish: | Cook |
| Postal Code: | 60637 |
| Year Built: | 1923 |
| Total # Units In Building: | 3 |
| Basement: | false |
| Building Area Total: | 4975 |
| Construction Materials: | Brick |
| Cooling: | Central Air |
| Directions: | 61st St east or west to 548 E 61st St. |
| Electric: | Circuit Breakers |
| Electric Expense: | $2,400 |
| Fireplaces Total: | 2 |
| Flooring: | Carpet, Tile, Varies, Wood |
| Foundation Details: | Concrete Perimeter |
| Fuel Expense: | 2400 |
| Gross Income: | $8,400 |
| Gross Scheduled Income: | $100,800 |
| Insurance Expense: | $9,000 |
| Lot Size Acres: | 0.063 |
| Lot Size Dimensions: | 2750 |
| MLS Area Major: | Chi - Woodlawn |
| Approximate Age: | Older |
| Agent Owned/Interest (Y/N): | No |
| # Of Apts: | 2 |
| Built Before 1978 (Y/N): | Yes |
| Docks: | None |
| # Of Dryers: | 3 |
| # Of Disposals: | 3 |
| # Of Dishwashers: | 3 |
| Fire Protection: | Carbon Monoxide Detector(s) |
| Geographic Locale: | Chicago South |
| Gross Rent Multiplier: | 6.94 |
| Heat/Ventilation: | Forced Air, Gas |
| Information: | 24-Hr Notice Required, List Broker Must Accompany |
| List Price Per Sf: | 170.85 |
| Market Code: | Active |
| Misc Inside: | Basement, Furnished Units Available |
| Misc Outside: | Balcony/ies, Security System |
| Other Expense Source: | Actual |
| # Of Offices: | 0 |
| Indoor Parking: | 1-5 Spaces |
| Outdoor Parking: | Parking-Street |
| Property Offered: | For Sale Only |
| # Of Refrigs: | 3 |
| # Of Ranges: | 3 |
| Roof Structure: | Flat |
| Total Monthly Income: | 8400 |
| # Of Stores: | 0 |
| # Of Tenants: | 6 |
| Update Date: | 2026-10-07T19:41:48 |
| # Of Window/Ac: | 0 |
| Washer/Dryer Lsd (Y/N): | No |
| # Of Washers: | 3 |
| Operating Expense: | $6,878 |
| Original List Price: | $850,000 |
| Parcel Number: | 20154040300000 |
| State Or Province: | IL |
| Stories: | 3 |
| Tax Year: | 2025 |
| Township: | Hyde Park |
| Trash Expense: | $240 |
| Water Sewer Expense: | $444 |
| Zoning: | OTHER |
| Actual Status: | New |
Listing Courtesy of: Park Place Realty Group LLC
Listing Agent: Taneisha Naylor
773-965-1428
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Midwest Real Estate Data LLC data last updated on October 08, 2026 04:15 PM - CT
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Property Last Updated: October 08, 2026 04:15 PM - CT
