7227 S Michigan Avenue, Chicago, IL 60619 | MLS #12597509 | Berkshire Hathaway HomeServices Chicago
 
Listing provided courtesy of Berg PropertiesMREDas Distributed by MLSGrid- MLS# 12597509MLS Provider

7227 S Michigan AvenueChicago, IL 60619

Multi-Family · 6 Beds
$400,000 Active

7227 S Michigan Avenue Overview

Time on Site:
101 days
Visits:
0

Turnkey Investment Opportunity - Fully Updated 2-Unit Building in Chatham/Park Manor Welcome to 7227 Michigan Ave-an exceptional opportunity to own a newly updated, income-producing building in the sought-after Chatham/Park Manor neighborhood. This well-maintained property features three spacious 3-bedroom, 1-bathroom apartments, making it ideal for investors seeking strong rental income or owner-occupants looking to live in one unit while generating revenue from the others. Each unit has been recently renovated with modern finishes, including beautiful hardwood floors throughout and updated kitchens with sleek granite countertops. The thoughtful upgrades and solid layout appeal to today's renters, helping ensure consistent occupancy and long-term value. The property also offers on-site laundry facilities (pay laundry), providing an additional income stream and added convenience for tenants. Investment Highlights: 3-unit residential building Each unit: 3 bedrooms, 1 bathroom Recently renovated interiors Hardwood flooring throughout all units Updated kitchens with granite countertops Strong rental demand in established neighborhood On-site coin/pay laundry for additional income Location Advantages: Ideally situated near Deneen Elementary School, Aldi, and L&P Foods, the property is perfectly positioned for tenant convenience. Excellent access to public transportation-including the Red Line and #3 bus route-as well as nearby expressways, makes commuting throughout the city simple and efficient. Additional Notes: Strong rental area with consistent demand Ideal for both seasoned investors and first-time buyers Whether you're expanding your portfolio or entering the investment market, 7227 Michigan Ave offers a compelling combination of location, updates, and income potential. Don't miss this opportunity to acquire a stabilized, income-generating asset in a growing neighborhood-schedule your showing today!

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7227 S Michigan Avenue Facts & Features

  • Type Multi-Family

Details

General

School Information

  • School District: 299

Building Information

  • New Construction: No
  • Year Built: 1916

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Greater Grand Crossing
  • Township: Hyde Park

Tax Information

  • Tax Annual Amount: $3,376.00
  • Tax Year: 2023

General Information

  • Ownership: Fee Simple
  • Parcel Number: 20271080090000
  • Property Type: Residential Income
  • Special Listing Conditions: None

Interior

Parking Information

  • Half Baths Building: 0

Beds/Baths

  • Bathrooms Total: 2
  • Bedrooms Total: 6
  • Bedrooms Possible: 6
  • Full Baths Building: 2

General Information

  • Basement: Unfinished, Full
  • Heating: Natural Gas
  • Rooms Total: 6

Exterior

Parking Information

  • Parking Total: 0

Lot Information

  • Lot Size Dimensions: 4800
  • Water Source: Lake Michigan

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Construction Materials: Brick

General Information

  • Sewer: Public Sewer

Unit Information

Unit 1 Details

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

Unit 2 Details

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

7227 S Michigan Avenue Neighborhood

Community

60619 (CHICAGO) Demographics

42
Median Age
10,192
Population Density (per sq. mile)
35%
College Educated
$40,762
Estimated Median Income
12,181
Estimated Total Home Owners
15,093
Estimated Total Renters
45% / 55%
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.

7227 S Michigan Avenue Monthly Cost

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* 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.

7227 S Michigan Avenue Market Data

Based on the last 30 days in this zip code

$215,577
Average List Price
$140
Average Price per Square Foot
34
Properties Sold
82
Average Days on Market
178
Properties for Sale
Calculations provided by Reliance Network

7227 S Michigan Avenue History

Date Event Value Agent
5/20/2026Source: MRED Status Change
Active
5/15/2026Source: MRED Status Change
Re-activated
5/12/2026Source: MRED Status Change
Contingent
5/10/2026Source: MRED Status Change
Active
5/5/2026Source: MRED Status Change
Re-activated
4/29/2026Source: MRED Status Change
Contingent
4/11/2026Source: MRED Status Change
Active
4/6/2026Source: MRED Price Reduction
$400,000 -9.1%
4/6/2026Source: MRED Status Change
Price Change
3/25/2026Source: MRED Status Change
Active
3/21/2026Source: MRED Added to Database
March 21, 2026