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$425,000
9 Beds 3 Baths 12724446 MLS ACTIVE Status
OWNER-OCCUPANT & INVESTOR VALUE-ADD OPPORTUNITY IN SOUTH SHORE! Not turnkey. Not overdone. Full of potential. This solid all-brick 3-flat offers approximately 3,200 sq ft, 9 bedrooms, 3 baths, separate utilities and a full basement-with an opportunity to create value through cosmetic renovation. Owner-occupants: Live in one unit while renting the other two, with anticipated rental potential of approximately $4,600/month from the two rented units, subject to market conditions and tenant demand. Investors: Three units create multiple income streams with anticipated rents of approximately $2,300 per unit, or $6,900/month when fully rented. The strategy is simple: BUY RENOVATE RENT BUILD EQUITY Financing options may include FHA 203(k), Conventional Rehab, Cash, or Hard Money, subject to lender/investor approval, property eligibility, borrower qualifications and applicable loan terms. Located in South Shore amid significant public and private investment, including INVEST South/West, the Obama Presidential Center, THRIVE Exchange and 71st Street corridor investment. Future impact is not guaranteed, but the level of investment makes this an opportunity worth a closer look. This is where the opportunity begins: bring your vision, improve the property and create the value. Short sale. Sold AS-IS. Subject to lender approval. If you're looking for a property where the upside comes from what YOU do with it, don't let this one pass without running the numbers. Anticipated rents are estimates for illustrative purposes only. Actual rents, expenses, renovation costs and values may vary. Financing is subject to lender approval, borrower qualification, property eligibility and applicable terms. Buyer to independently verify all information and projections.

7544 S Essex Avenue, Chicago

$238,000
4 Beds 3 Baths 12650798 MLS ACTIVE Status
1ST TIME HOME BUYERS, INVESTORS & REHABBERS - SOUTH SHORE BUNGALOW PRICED TO SELL! 7646 S. Merrill Avenue | Chicago, IL 60649 | $259,900 | AS-IS Classic 2-story Chicago brick bungalow - brick first floor, vinyl siding second floor, asphalt shingle roof, detached 2-car garage. FIRST FLOOR: Foyer, formal living room, formal dining room, 2 bedrooms, 1 full bath, hardwood floors throughout, tile in kitchen and bath, enclosed porch off dining room and kitchen. SECOND FLOOR: 2 bedrooms, 1 full bath, sitting room, plus a dormer that can be converted into a 6th bedroom or primary suite, significantly increasing the value of the home after renovation. BASEMENT: Unfinished - 5th bedroom, half bath, utility and laundry room, storage room, and plenty of open space. Your opportunity to design and build exactly what you need. This is a 5-bedroom home with the potential to become a 6-bedroom after the dormer conversion. Similar homes in South Shore have sold for $280K-$390K. The Obama Presidential Center is minutes away. South Shore is a neighborhood on the rise - now is the time to BUY. FINANCING: This property is FHA 203(K) and VA Renovation loan eligible - buy it AND fund your full rehab in ONE loan, ONE closing, ONE payment. FHA 203(K): 3.5% down, 620 minimum credit score. VA: zero down, no PMI, flexible credit. First-time buyers - this is your opportunity to build real wealth through homeownership. Sold AS-IS. No repairs. Pre-approval or proof of funds required with all offers. Distressed/foreclosure sale - special warranty deed. Allow additional time for title clearance. Contact listing agent for viewing instructions. ChatGPT AI was used to review this narrative.

7646 S Merrill Avenue, Chicago

$315,000
3 Beds 2 Baths 12613432 MLS CLOSED Status
Beautifully renovated 3-bedroom, 2-bathroom home in Chicago's Ashburn neighborhood, priced to reflect a small number of open exterior items the buyer will assume at close. The interior rehab is complete: bright open-concept main floor with luxury vinyl plank flooring, recessed lighting, and an updated kitchen featuring white shaker cabinets, stainless steel appliances, and a sliding door to the backyard. A stylish full bath completes the main level. Upstairs, a private master suite retreat offers vaulted ceilings, rich hardwood floors, a ceiling fan, private balcony access, and an en-suite bath with glass block detail and marble-top vanity. Two additional well-sized bedrooms round out the upper level. The expansive finished lower level includes a separate entrance, recessed lighting, and full LVP flooring - ideal as a media room, home office, or recreation space. Outside features a fenced backyard with second-story deck, concrete patio, and lush green lawn. Detached garage plus driveway provides ample off-street parking. Open exterior items include rear porch repair, exterior cleanup, and minor cosmetic items - seller offering a credit toward remediation. FHA, Conventional, and cash all welcome subject to appraiser conditions on exterior items. Listing agent is a dual-licensed Real Estate Broker and Mortgage Loan Officer - ask about financing options. Convenient to CTA bus lines, Metra Southwest Service, shopping, and dining. STOP - Read broker remarks in MLS before confirming this showing. Property has open DOB items transferring to buyer at close. Buyer must be positioned for renovation financing or cash. Do not bring standard FHA buyers without confirming financing structure first.

4680 W 83Rd Street, Chicago

$240,000
6 Beds 2 Baths 12536649 MLS CLOSED Status
INVESTOR OPPORTUNITY: Classic Brick Two-Flat Sold AS-IS AS-IS SALE PROPERTY HIGHLIGHTS: Welcome to a solid investment opportunity in Greater Grand Crossing! This classic 1923 brick two-flat offers 6 bedrooms, 2 bathrooms across two spacious 3BD/1BA units, plus a detached brick 2-car garage-all sitting on an extra-large lot with excellent bones and strong rental demand fundamentals. PROPERTY FEATURES: Two 3-bedroom, 1-bathroom units providing dual income streams Classic brick construction with timeless curb appeal and long-term durability Detached brick 2-car garage offering additional storage or parking income potential Oversized lot (33x125) providing expansion possibilities and valuable outdoor space Full unfinished basement ready for finishing or additional storage 14 total rooms across both units offering excellent rental value Prime location with convenient access to I-90/94, CTA Red Line, shopping, dining, and parks INVESTMENT POTENTIAL: This property is priced to provide room in your budget for value-add improvements. Greater Grand Crossing offers strong rental demand with accessibility to downtown, major transportation corridors, and neighborhood amenities. The dual-unit configuration is perfect for: Buy-and-hold investors seeking steady cash flow House hackers looking to live in one unit and rent the other Value-add investors ready to renovate and reposition Portfolio builders adding performing multi-family assets LOCATION ADVANTAGES: Situated in Greater Grand Crossing with excellent connectivity to downtown Chicago, CTA public transportation, local schools, parks, and shopping. The neighborhood provides an ideal combination of affordability and accessibility for tenants and investors alike. PROPERTY CONDITION & TERMS: SOLD STRICTLY AS-IS. Property is being sold in its current condition without warranties, guarantees, repairs, or representation as to accuracy of information provided. Buyer is responsible for all inspections, due diligence, and verification of property details. Seller will not provide any repair credits or make improvements prior to closing. This AS-IS pricing allows sophisticated investors to acquire below replacement cost with built-in equity potential. Updates and cosmetic improvements will immediately increase rental rates and overall property value. FINANCING SOLUTIONS AVAILABLE: Listing agent is a dual-licensed Real Estate Broker AND Mortgage Loan Officer (NMLS #2514797), offering multiple financing pathways including conventional, FHA, VA, portfolio loans, and DSCR investor financing. PROPERTY DETAILS: Year Built: 1923 Property Type: Two-Flat Multi-Family Total Bedrooms: 6 (3 per unit) Total Bathrooms: 2 (1 per unit) Lot Dimensions: 33 x 125 Basement: Full, Unfinished Garage: Detached Brick 2-Car Exterior: Brick Utilities: Separate (tenant-paid) Property Taxes: $4,640 (2023). The TV Show Chicago PD is filming an episode from 01/12/2026-01-15-2026 so we are off the market until 01/16/2026...

7236 S Michigan Avenue, Chicago

$200,000
7 Beds 3 Baths 12510303 MLS ACTIVE Status
Attention Savvy Investors & Visionary Homebuyers! Rehabbed started in 2025, Ready for Your Final Touches: Step into this partially renovated 2-unit frame building, with 3 Bedrooms 1 Bath on each floor, with Huge Living rooms, formal Dining with Hardwood floors and a basement that can be duplex up to the first floor offering the perfect canvas to complete your dream investment or start your journey toward homeownership. All units come with hardwood floor throughout. Major updates have already been completed in 2025, saving you time and money now it just needs your finishing vision to bring it to life. Dual Income or Live-In Potential: Whether you're an investor looking for strong rental potential or a first-time buyer planning to use an FHA 203(k) rehab loan, this property gives you options. Live in one unit and rent out the other. Sweat Equity Opportunity: This is where equity meets opportunity. With much of the heavy lifting already done, you can customize finishes and design choices to match your taste or the market demand and instantly boost the property's value once complete. Prime Location, Solid Foundation: Nestled in the highly sought calumet heights with rising property values, this two-flat is the definition of buy low, build value. This property isn't for everyone-it's for the buyer who sees potential where others see projects. It's for the one ready to turn vision into value, sweat into equity, and opportunity into long-term gain. "Sold As Is"

9338 S Marquette Avenue, Chicago

$240,000
10 Beds 5 Baths 12346378 MLS CLOSED Status
***Asking price is only $249,900 - Estimated After-Repair-Value is $677,000*** Incredible opportunity to own a legal 2-flat with a bonus garden apartment in the rapidly developing East Garfield Park (Tri-Taylor) neighborhood-steps from the Western Blue Line, 15 minutes to UIC via I-290, and surrounded by new construction, including the $7B "1901 Project" near the United Center that's set to transform the area with thousands of new residences, parks, retail, and entertainment. The property features a new back porch (2021). The propery is fully vacant! Zoned RM-5 and located in the West ADU zone, it qualifies for conversion into a legal 3-unit under the City's ADU Ordinance-unlocking major value and rental income potential. Renovated 2-units in the area have recently sold for an average of $546,000, while a full 3-unit conversion pushes the estimated after-repair value to $677,000. Renovated 3-4 bedroom apartments in this neighborhood rent for $2,916-$2,974/month, creating a projected rental income of nearly $9,000/month when fully occupied. Whether you're an investor looking for cash flow or an owner-occupant hoping to "house hack" by living in one unit and letting the other two cover most-if not all-of your expenses, this is a smart buy with serious upside. Excellent candidate for an FHA 203k renovation loan-bring your vision and build equity from day one. ***The property is fully vacant***

2737 W Congress Parkway, Chicago

$370,000
3 Beds 2 Baths 12223081 MLS CLOSED Status
***Asking price is only $375,000 - Estimated After-Repair-Value is $671,000*** Discover a rare investment opportunity in South Shore with this massive, golden brick three-flat offering 4,158 square feet of living space and tremendous potential for expansion. Perfect for an owner-occupant looking to house hack, this property allows you to live in one unit while renting out the other two, with the potential to convert the spacious basement into a fourth livable unit for even more rental income. Each of the three units boasts three bedrooms, two full bathrooms, original hardwood floors, and separate living and dining rooms, providing a solid foundation for strong rental income or an owner-occupant setup. Major upgrades have been completed, including a new tear off roof (2020), a brand-new back porch (2025, city-approved), two new furnaces (2024), all-new copper water lines (2024), five newly installed bathtubs, and a four-year-old roof. Approximately 80% of the electrical system has been updated in recent years, and two attic condensers are already in place for potential central air installation. While the property does need some work, there is significant equity upside for a buyer willing to complete the renovations. With fully renovated units in the area renting for an average of $1,913 per month, this property can generate an estimated $5,739 in gross monthly rental income, potentially covering the majority, if not all, of your housing expenses. The basement, with its high ceilings and ample space, offers the opportunity for conversion into a livable unit, boosting the revenue potential to over $7,000 per month. This property is an excellent candidate for a buyer looking to take advantage of an FHA 203k construction loan to complete the necessary renovations and unlock its full value. Located near Lake Michigan, Jackson Park Golf Course, the Obama Presidential Library, public transit, and major highways, this property provides easy access to everything South Shore has to offer. Recent sales of fully renovated three-unit properties within a one-mile radius have averaged $671,000, providing substantial equity upside for a buyer willing to put in the work. Whether you're an investor or a savvy homeowner looking for a way to reduce living expenses and build equity, this property is a unique opportunity. The owner has addressed a minor furnace violation, and the property will be delivered free of code violations at closing. Priced to sell, schedule your showing today! Property sold AS-IS.

7712 S Jeffery Boulevard, Chicago

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Chicago, IL · Curated MLS Search

FHA Loan Homes in Chicago, IL

An editorially curated view of every active fha loan homes listing in Chicago, IL. Updated in real time from the local MLS, presented without the noise.

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