Listing provided courtesy of Realty of America, LLCMREDas Distributed by MLSGrid- MLS# 12689305
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Request Info5849 S Michigan AvenueChicago, IL 60637
Commercial · 4 Beds · 9,450 Sq. ft. | 0.18 Acres$899,000
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5849 S Michigan Avenue Overview
- Time on Site:
- 3 days
- Visits:
- 0
Excellent opportunity to acquire a stabilized 8-unit multifamily property in the rapidly evolving Washington Park neighborhood. The building features a desirable unit mix of six spacious 3-bedroom units and two garden-level units, offering strong rental demand and long-term investment potential. Large unit layouts appeal to families and long-term tenants, helping support occupancy and tenant retention. Ideally located near Washington Park, public transportation, major expressways, the Green Line, and the newly opened Obama Presidential Center, the property is positioned to benefit from continued investment and redevelopment throughout the surrounding area. Whether you're expanding your portfolio or seeking a well-maintained multifamily asset in one of Chicago's emerging growth corridors, this building offers an attractive combination of stability, location, and future upside.
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5849 S Michigan Avenue Facts & Features
- Type Commercial
- Sq. ft. 9,450
- Price/Sq.ft. $95
- Lot 0.18 Acres
Details
General
Income/Expenses
- Other Expense: 0
- Electric Expense: 450
- Fuel Expense: 7000
- Gross Income: 190200
- Gross Scheduled Income: 139200
- Insurance Expense: 12000
- Maintenance Expense: 2365
- Net Operating Income: 87126
- Operating Expense: 18450
- Trash Expense: 6000
- Water Sewer Expense: 7200
Building Information
- Year Built: 1908
Location/Region
- County Or Parish: Cook
- MLS Area Major: CHI - Washington Park
Rent/Lease Information
- Tenant Pays: Electricity
Tax Information
- Tax Annual Amount: $13,305.00
- Tax Year: 2024
General Information
- Parcel Number: 20151210140000
- Possible Use: Multi-Family
- Property Type: Commercial Sale
- Zoning: MULTI
Interior
Building Interior
- Building Area Total: 9450
General Information
- Cooling: None
- Stories: 3
Exterior
Lot Information
- Additional Parcels: No
- Lot Size Acres: 0.18
- Lot Size Dimensions: 50X160
- Lot Size Square Feet: 7728
Building Exterior/Construction
- Construction Materials: Brick
General Information
- Number Of Units Total: 8
Unit Information
Unit 1 Details
- Unit Type: Unit 1
- Beds Total: 3
- Baths Total: 1
- Units Total: 6
Unit 2 Details
- Unit Type: Unit 2
- Beds Total: 1
- Baths Total: 1
- Units Total: 2
Unit 3 Details
- Unit Type: Unit 3
- Beds Total: 0
- Baths Total: 1
- Units Total: 0
Unit 4 Details
- Unit Type: Unit 4
- Beds Total: 0
- Units Total: 0
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
5849 S Michigan Avenue Neighborhood
Community
60637 (CHICAGO) Demographics
31
Median Age
8,890
Population Density (per sq. mile)
41%
College Educated
$30,149
Estimated Median Income
4,970
Estimated Total Home Owners
15,152
Estimated Total Renters
25% / 75%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
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.5849 S Michigan Avenue Monthly Cost
5849 S Michigan Avenue Market Data
Based on the last 30 days in this zip code
$393,653
Average List Price
$235
Average Price per Square Foot
24
Properties Sold
105
Average Days on Market
115
Properties for Sale
5849 S Michigan Avenue History
| Date | Value | Agent |
|---|---|---|
| 6/26/2026Source: MRED | June 26, 2026 |
|
| 9/25/2025Source: MRED | Closed |
|
| 9/15/2025Source: MRED | Pending |
|
| 7/31/2025Source: MRED | Contingent |
|
| 6/16/2025Source: MRED | Active |
|
| 6/11/2025Source: MRED | June 11, 2025 |