REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 750,250
Est. payment /mo
New
6504 S Maryland AVE Chicago, IL 60637
8 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12676628
Bedrooms 8
Year Built 1894
Annual Tax Amount $7,053
Tax Year 2024
Lot Dimensions 3,225 square feet
Property Sub-Type Two to Four Units
Property Description
Exceptional investment opportunity in the heart of Woodlawn! This fully occupied, income-producing 3-unit building offers a rare combination of strong cash flow, modern amenities, and significant future upside. Currently generating $5,931 per month in rental income with below-market rents (3rd floor tenant vacating in July), the property presents an excellent opportunity for increased revenue through future rent adjustments. Renovated in 2018, the building features an attractive unit mix of two spacious 2-bedroom, 2-bathroom units (2nd floor includes bonus room) and one oversized 3-bedroom, 2-bathroom unit. Each apartment is equipped with central air conditioning, in-unit washer and dryer, and separately metered utilities; tenants pay all utilities except water which minimizes operating expenses for ownership. Additional features include a detached 2-car garage, security camera system, and a private backyard entertainment area ideal for gatherings and outdoor enjoyment. The full unfinished basement offers exceptional value-add potential and may be suitable for a duplex-down conversion or additional dwelling unit (ADU), subject to zoning and city approval. Ideally situated within walking distance of the transformative Obama Presidential Center development, the property is positioned to benefit from continued neighborhood investment, rising property values, and growing rental demand. Convenient access to public transportation, parks, shopping, restaurants, and the University of Chicago further enhances its appeal. Whether you're seeking a turnkey investment with immediate income or a value-add asset with future expansion potential, this property delivers both stability and opportunity in one of Chicago's most rapidly evolving neighborhoods. ***Property is Agent Owned
Location
State IL
County Cook
Area Chi - Woodlawn
Rooms
Basement Unfinished, Full
Interior
Heating Natural Gas
Fireplace N
Exterior
Exterior Feature Fire Pit
Garage Spaces 2.0
View Water
Building
Dwelling Type Two to Four Units
Building Description Brick,Stone, No
Sewer Public Sewer
Water Public
Structure Type Brick,Stone
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Brandon Williams of L. Upshaw Realty