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Fantastic opportunity to own this mixed-use building located in an Opportunity Zone. With a projected NOI of almost $200k/yr upon completion, this property consists of ten residential units and four commercial units. The rare gated courtyard design of the property provides an insulated, safe environment for the residents. The four commercial units, with fantastic visibility and access to Ashland Ave are the perfect size for entrepreneurs to get their new businesses off the ground with a bang. The spaces are open, airy and offer flexible layouts that serve a wide range of businesses. The makeup of the residential units is four 1 bedroom units and six 2 bedroom units, each with 1 bathroom. They are all great sized units with big windows and lots of natural light. This is a two story building, convenient for the all tenant types, and also convenient for finishing the rehab (residential plumbing can be PVC, for example). The 4 commercial units will be very easy to fill given their size. They are perfect for NNN tenants like a quick serve restaurant (sandwich shop), barber shop, nail salon, tax/insurance shop etc. The property has been fully demo'd, a new full tear-off roof has been installed, most masonry work is completed and is fully framed out and ready for MEP. Plans have been approved with the city and permits are imminent.

6617 S Ashland Avenue, Chicago

$349,999

12649787 MLS ⋅ CONTINGENT Status

ENTIRE BLOCK opportunity in Chicago's Vincennes Village. 24-unit multifamily complex with a stamped architectural pricing set already in hand. Four contiguous four-story masonry buildings address 7200-7206 S Vincennes Ave and 7203-7205 S Wentworth Ave, with onsite manager's office and an interior community courtyard. Current configuration is 24 units (12 two-bedroom/one-bath and 12 one-bedroom/one-bath), six units per building. Zoned C1-2. The buyer steps into a fully designed, fully scoped rehab - not a guess. The complete architectural pricing set (dated 04/24/2026, Michael Office of Architecture) reconfigures the property to 26 units by adding new basement units and converting select upper-floor one-bedrooms into two-bedrooms. The sale includes the entire block - buildings plus the contiguous vacant parcel to the south. Drawings convert that south parcel into a 24-stall striped parking lot with new storm water system, masonry trash enclosure, landscaping, wrought iron fencing, and a 12' remote sliding gate. Extensive rehab needed across all four buildings - masonry restoration, structural repairs, full window/door replacement, complete MEP (all-electric base bid with gas alternates priced), and full interior finishes spec'd as contractor-grade for-rent. Protective canopies and secure entries are already in place. The property sits in a designated Qualified Opportunity Zone (60621). Investors rolling capital gains into a Qualified Opportunity Fund that acquires and substantially improves this asset can defer the original gain and eliminate federal tax on all appreciation if the QOF interest is held 10+ years. A heavy rehab basis clears the substantial-improvement test cleanly, and a stabilized multifamily reposition lines up with the 10-year hold horizon - materially better after-tax IRR than a non-OZ comparable for HNW investors carrying a large unrealized gain. Sold as-is. Full architectural pricing set, design narrative, survey, and photos available to qualified buyers on request.

7200 S Vincennes Avenue, Chicago

$200,000

12271775 MLS ⋅ CLOSED Status

Vincennes village! This 24 unit building with an onsite management office space is ready for rehab. Layouts are: 12- 2 bedroom 1 bath, and 12 huge 1 Bedroom 1 bath apartments. The building also has an interior community courtyard. The building sits on a block of its own and the sale include THE ENTIRE BLOCK (includes land to the south of the building), with units and addresses on Vincennes, Wentworth, and 72nd st. REO Sale - extensive rehab needed - additionally, nearby building at 7157 S Yale can be purchased with this building.

7200 S Vincennes Avenue, Chicago

$1,325,000

11980358 MLS ⋅ CLOSED Status

RARELY AVAILABLE 36-UNIT BRICK COURTYARD BUILDING WITH EXCELLENT INCOME POTENTIAL. THE PROPERTY IS COMPRISED OF 12 STUDIOS & 24 1-BEDROOM APARTMENTS. SOLD AS-IS. NO SURVEY. BUYER MUST TAKE SUBJECT TO ANY VIOLATIONS/MUNICIPAL REQUIREMENTS.

348 W 74Th Street, Chicago

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