$340,000
8548 S Exchange Avenue
Chicago, IL, 60617
Welcome to this very well maintained brick 2-unit brick! This building is located in the heart of South Chicago and offers a spacious 4 bedrooms per floor! 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! 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. There is a side driveway 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. 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). 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 Details
Price:
$340,000
MLS #:
MRD12373801
Status:
Active
Beds:
8
Baths:
2
Address:
8548 S Exchange Avenue
Type:
Multi Family
Neighborhood:
CHI – South Chicago
City:
Chicago
Listed Date:
May 23, 2025
State:
IL
ZIP:
60617
Year Built:
1924
Schools
School District:
299
Interior
Heating
Radiator(s)
Exterior
Construction Materials
Brick
Parking Features
On Site, Garage Owned, Detached, Garage
Parking Spots
2
Financial
Tax Year
2023
Taxes
$2,532
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
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8548 S Exchange Avenue
Chicago, IL
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