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0 Beds

$1,650,000

7042 S Michigan Avenue, Chicago IL, 60637

Built in1925
Property typeMulti-family
Listed by Kevin Rocio with @properties Commercial 312-337-0200

Overview

Active

Price Change

Listed Sep 17, 2026

Updated 4h ago

32-unit courtyard building in Chicago's Greater Grand Crossing submarket, offered at $1,700,000 ($53,125/unit | $75.89/SF). This 1925-built, ~22,400 SF brick courtyard property spans four entrances (7042, 7044, 7046, 7048) and delivers immediate in-place income with clear upside baked into the rent roll. Sub-$60K/unit basis with income already in place, as only two units require lease-up. Rents are meaningfully below market across the entire mix, giving a new owner a straightforward, low-risk path to NOI growth without a heavy capex program. Porches were replaced in 2007, with permitted repairs completed in 2019. Situated in Greater Grand Crossing, a renter-dominant submarket with strong transit reliance, supporting durable workforce rental demand - a large share of households have no vehicle and rely on transit for commuting. Healthcare and education anchor local employment, with the Loop as the largest commuter destination. The property sits within a short drive of University of Chicago, UChicago Medicine, Jackson Park, the DuSable Museum, and the Obama Presidential Center, with everyday retail (Walgreens, ALDI, Dunkin', Subway, Mobil) all within a mile. Offering Memorandum with staged interior photos available upon request.

$10,977/mo

Est. mortgage payment based on a $1,650,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Other Property Details

Taxes
$31,248
Tax Frequency
Annually
Maintenance Expense
$22,648
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Listed by Kevin Rocio with @properties Commercial 312-337-0200

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Data is refreshed every 3 hours. Listing last updated 3:56 PM UTC on 10/10/2026. 

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