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Listing provided courtesy of Suite 527 Realty Group, LLCMREDas Distributed by MLSGrid- MLS# 12654319MLS Provider

7056 S Parnell AvenueChicago, IL 60621

Commercial · 14 Beds
$695,000 Active

7056 S Parnell Avenue Overview

Time on Site:
39 days
Visits:
0

7056 S Parnell Ave presents an excellent opportunity to acquire a solid 6 unit brick investment property on a corner lot in Chicago's Englewood neighborhood. Located in an opportunity zone, this well maintained building features oversized apartments with highly desirable layouts, including one 4 bedroom/2 bathroom unit, two 3 bedroom/2 bathroom units, one 4 bedroom/1 bathroom unit, and two 3 bedroom/1 bathroom units. Each apartment offers hardwood floors throughout, separate living and dining rooms, spacious kitchens, generous bedroom sizes, and separate utilities for added efficiency and tenant responsibility. Plumbing and Electrical updated in 2023. The property will be delivered with 4 vacant units, providing immediate value add potential for an owner investor to place tenants at current market rents. The remaining 2 occupied units are currently on month to month leases, creating additional flexibility for future rental adjustments or renovations.

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7056 S Parnell Avenue Facts & Features

  • Type Commercial

Details

General

Income/Expenses

  • Other Expense: 0
  • Electric Expense: 900
  • Fuel Expense: 0
  • Gross Income: 48000
  • Insurance Expense: 2500
  • Maintenance Expense: 0
  • Net Operating Income: 16837
  • Operating Expense: 31163
  • Trash Expense: 3600
  • Water Sewer Expense: 500

Building Information

  • Year Built: 1902

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Englewood
  • Township: Lake

Rent/Lease Information

  • Tenant Pays: Varies by Tenant

Tax Information

  • Tax Annual Amount: $13,963.00
  • Tax Year: 2024

General Information

  • Parcel Number: 20213250190000
  • Property Type: Commercial Sale
  • Zoning: MULTI

Interior

General Information

  • Cooling: None
  • Stories: 3

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 5325

Building Exterior/Construction

  • Construction Materials: Brick

General Information

  • Number Of Units Total: 6

Unit Information

Unit 1 Details

  • Unit Type: Unit 1
  • Beds Total: 3
  • Baths Total: 1
  • Units Total: 2

Unit 2 Details

  • Unit Type: Unit 2
  • Beds Total: 3
  • Baths Total: 2
  • Units Total: 2

Unit 3 Details

  • Unit Type: Unit 3
  • Beds Total: 4
  • Baths Total: 1
  • Units Total: 1

Unit 4 Details

  • Unit Type: Unit 4
  • Beds Total: 4
  • Baths Total: 2
  • Units Total: 1

Unit 5 Details

  • Unit Type: Unit 5
  • Beds Total: 0
  • Units Total: 0

Unit 6 Details

  • Unit Type: Unit 6
  • Beds Total: 0
  • Units Total: 0

Unit 7 Details

  • Unit Type: Unit 7
  • Beds Total: 0
  • Units Total: 0

7056 S Parnell Avenue Neighborhood

Community

60621 (CHICAGO) Demographics

37
Median Age
7,171
Population Density (per sq. mile)
16%
College Educated
$23,019
Estimated Median Income
2,506
Estimated Total Home Owners
8,240
Estimated Total Renters
23% / 77%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

7056 S Parnell Avenue Monthly Cost

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Corinne Guerra
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

7056 S Parnell Avenue Market Data

Based on the last 30 days in this zip code

$189,260
Average List Price
$123
Average Price per Square Foot
3
Properties Sold
85
Average Days on Market
46
Properties for Sale
Calculations provided by Reliance Network

7056 S Parnell Avenue History

Date Event Value Agent
5/26/2026Source: MRED Status Change
Active
5/21/2026Source: MRED Added to Database
May 21, 2026
9/16/2022Source: MRED Status Change
Closed
7/29/2022Source: MRED Status Change
Pending
6/20/2022Source: MRED Added to Database
April 16, 2022
5/9/2022Source: MRED Status Change
Contingent
4/20/2022Source: MRED Status Change
Active