5221 South Michigan, Chicago IL 60615
- Units 3
- Total Beds 12
- Total Baths 6
- Taxes $7,221
- Payment Estimate View Mortgage Calculator
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Property Description
5221 S Michigan Ave is a 6,030 sq. ft. multi-family home sitting on a 5,370 sq. ft. lot, offering tremendous potential for investors or developers. Built in 1905, this all-brick property features 12 bedrooms and 6 bathrooms across multiple units. While the building requires a full gut renovation, the existing layouts provide great versatility, including the potential to duplex the first floor down into the walkout basement. Located in a neighborhood with growing development, this property is ideal for anyone looking to restore a historic structure with the possibility of creating modern, high-demand rental units or condos. Bring your vision and transform this property into a lucrative investment!
Features & Information
Key Details
- List Price $400,000
- Property Taxes $7,221
- Price/ Sq. Ft. Unavailable
- Year Built 1903
- Parking Type Garage
- Status New
Rooms
- Total Rooms 9
- Basement W
Exterior Features
-
Parking
- Parking Details Garage
- # of Cars: 2
Building Information
- Number of Units 3
- Age of Building 100+ Years
- Exterior Construction Brick
- Heating & Cooling Gas
-
Units
- Unit 1 None
- Unit 2 None
- Unit 3 None
Location
- County Cook
- Township Hyde Park
- Corporate Limits Chicago
- Directions to Property 47th East Or West To Michigan, South To Property
-
Schools
- Elementary School District 299
- Junior High District 299
- High School District: 299
-
Property Taxes
- Tax 7221
- Tax Year 2022
- Tax Exemptions None
- Parcel Identification Number 20103030020000
Utilities
- Sewer None
Listed by Paulette Hollingsworth for Baird & Warner | Source: MRED as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 10/31/2024 12:02 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Explore Washington Park
For now Chicago's Washington Park neighborhood may be a predominantly residential south side community with a sprawling public park and rich culture of African-American heritage, however, as the potential site of the Olympic Stadium for the 2016 Summer Games, this modest neighborhood could really make its mark in the near future. Remnants of the last century's architectural movement are found throughout the area, with a wave of new designs and gut rehabs dusting the streets as well. As Olympic talk heightens, developers and city officials are anticipating the impact such a huge event would have on Washington Park. Temporary athlete lodgings and the massive 80,000-seat arena would only be around for a short period, but the hope is that a surge of new businesses would ride in on the coattails of this once-in-a-lifetime opportunity to bolster the Washington Park neighborhood for decades to come. The current commercial base is slight, with a few soul food mainstays and Chinese takeout, but the annual cultural festivals and fun Park District programs keep things on the up as Washington Park awaits an impending transformation of Olympic proportions.
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