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Mario Bilotas

mario@fourdaughtersrealestate.com +1(847) 910-5022

$ 400,000

Est. payment -/mo

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Price Dropped by $15K

7751 S Phillips AVE Chicago, IL 60649

7 Beds

4 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12560835

Bedrooms 7

Year Built 1923

Annual Tax Amount $3,388

Tax Year 2023

Lot Dimensions 25x125

Property Sub-Type Two to Four Units

Property Description

Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.

Location

State IL

County Cook

Area Chi - South Shore

Rooms

Basement Unfinished, Full, Walk-Out Access

Interior

Heating Radiant, Radiator(s)

Fireplace N

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Brick

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Jason Marsing of Fulton Grace Realty

Nearby School & Business

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MY BLOGS

Vacant Land Scams are REAL

About 6 months ago, I received an email from (let’s call him) Charlie. A “nothing out of the ordinary” email from a common (and mildly validating) charlie…..@hotmail stating: “I have owned the lot for many years, but a couple of years ago I moved from Illinois to California, and I would like to sell

THE FRONT PORCH SWING

Oh, the memories. I remember my girls spending countless hours swinging front to back and side to side, hanging out with the neighborhood kids, splashing with the water hose, or crafting top-secret plans with their imaginations. It was awesome. How times have changed. With my two youngest girls slow

less is more, unless, it’s for less.

I hated looking for matching socks. Every day, my job required me to remove shoes at nearly every doorstep, and matching my socks was a daily frustration. Each day, I’d get my MLS home showing sheets ready, the electronic key card that opens lock-boxes, get dressed with minutes turning into seconds

Contact Us

Phone

+1(847) 910-5022

mario@fourdaughtersrealestate.com

Address

205 W. Miner Street, Arlington Heights, IL 60005, USA