Address
350 E 71st Street, Chicago, IL
Price
$ 750,000
Property Attributes
- MLS#12769910
- TypeCommercial
- Listing Status New
- CountyCOOK
- CityChicago
- AreaCHI - Greater Grand Crossing
- NeighborhoodGrand Crossing
- Zip60619
- StyleCommercial
- Year Built1916
- Taxes$ 25301
- Price$ 750,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage3600
- Lot Size0.176837 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Exceptional mixed-use investment opportunity in Greater Grand Crossing! This 12-unit property features 8 residential apartments and 4 commercial spaces, providing multiple income streams in one asset. Currently, 7 of the 8 apartments are occupied at $1,000/month each, while 3 of the 4 commercial spaces are occupied and generating a combined $5,000/month. Current occupied rental income totals approximately $12,000 per month / $144,000 annually, with additional upside from the vacant apartment and commercial/restaurant space. The property offers separately metered utilities rear parking and established commercial tenants. The available restaurant space creates an opportunity for an investor to increase income through lease-up or potentially reposition the space for another permitted use. At the current $750,000 asking price, the property offers an attractive income-producing opportunity with significant value-add potential through stabilization of the remaining vacancies. Convenient South Side location with access to transportation, neighborhood businesses and major Chicago thoroughfares. Property sold as-is. Buyer to verify all information, income, expenses, zoning, permitted uses, unit count and measurements.
| Price History | |
|---|---|
| 9/28/2026 | Listed $750,000 |
General Features
| Cooling | Central Air |
|---|---|
| Zoning | COMMR |
| Construction Materials | Brick |
| Year Built | 1916 |
| Electric | Separate Meters |
| Tenant Pays | Air Conditioning,Electricity,Heat,Janitorial Service,Insurance,Repairs,Other |
| Stories Count | 3 |
| Township | Hyde Park |
| Property Subtype | Mixed Use |
| Tax Year | 2025 |
| Current Use | Commercial |
| Gross Income | 144000 |
| County | Cook |
| Net Operating Income | 66000 |
| Operating Expense | 64000 |
| Insurance Expense | 9000 |
| Property Type | Commercial Sale |
| Status | New |
| Directions | I94 North to 71st Street East Past Calumet Avenue |
| City | Chicago |
| Number Of Units Total | 12 |
| MLS Area | CHI - Greater Grand Crossing |
| Lot Size Square Feet | 7703 |
| Tax Annual Amount | 25301 |
| Electric Expense | 600 |
| Trash Expense | 400 |
| Water Sewer Expense | 6000 |
| Additional Parcels Y/N | No |
| Standard Status | Active |
| Property Type | Mixed Use |
| Cap Rate | 10.6 |
Exterior Features
| Building Area Total | 3600 |
|---|---|
| Lot Dimensions | 0.1768 |
| Frontage Type | Public Road,US Highway |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60619
Price
Taxes
Year Built
REALTORS® Wisconsin Real Estate Exchange (WIREX). All information deemed reliable but not guaranteed. Information is supplied by seller and other third parties and has not been verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s), nor Cove Realty, LLC - WI, nor WIREX MLS shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Cove Realty, LLC - WI may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 Wisconsin Real Estate Exchange (WIREX) MLS, Inc. All rights reserved. Last Updated: September 28, 2026 5:36 PM UTC
