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Open House Times
- Sun. May. 31 at 2:00pm to 3:00pm
About the Listing 27867 - 247911,264809
This garden-level 2-bedroom, 2-bath condo in the heart of Bronzeville offers a rare opportunity to own a spacious, affordable unit with over 1,500 square feet of living space and strong long-term upside in one of Chicago's most vibrant and growing neighborhoods. The unit features an open and functional layout with hardwood floors, stainless steel appliances, a cozy gas-log fireplace, and a versatile den-perfect for a home office or additional living space. The open kitchen, living, and dining areas provide a comfortable flow for everyday living, while central A/C and a private parking space add convenience. A major advantage of this property is the absence of a traditional monthly association fee, which can significantly reduce your overall monthly housing expense and improve cash flow. The building operates under recorded condominium documents; however, it has historically functioned without an active association collecting dues, and the current owner has not paid association fees or special assessments during over 10 years of ownership, offering a unique low-carrying-cost ownership experience. The seller will provide full transparency regarding this history along with available condominium documents, written disclosures, and title-backed protections so buyers clearly understand the structure and can move forward with confidence. From an investment standpoint, similar 2-bedroom units in the Bronzeville area are currently renting in the range of $1,500 to $1,800+ per month depending on condition and finishes, and with over 1,500 square feet and a flexible layout, this unit has the potential to perform at the higher end of that range once refreshed. The property has a proven rental track record, having been occupied by a long-term CHA voucher tenant who paid consistently and vacated honorably, and the unit successfully passed regular CHA inspections during that tenancy. While the unit shows some normal wear from long-term occupancy, it is being sold as-is, presenting an excellent opportunity for a buyer to update and customize the space to their own taste while building equity. Located on a quiet, tree-lined street just minutes from parks, restaurants, shopping, public transportation, and the lakefront, this Bronzeville condo is ideal for both owner-occupants and investors looking to secure a well-positioned asset with low carrying costs, strong rental potential, and long-term neighborhood growth.
Listing Highlights
Status
Active
Days on Site
85
Property Type
Condo/Townhome
MLS ®
12586052
Year Built
Total Square Footage
1,600
Lot/Acreage
CONDO
Interior Details
- Bedrooms: 2
- Bathrooms: 2 Full
- Appliances: Range, Microwave, Refrigerator, Washer, Dryer
- Air Cond: Central Air
- Heating: Natural Gas
- Fireplaces: 1, Gas Log
- Floor: Hardwood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Cats OK,Dogs OK
- Water: Lake Michigan
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 1
- Lot Dimensions: CONDO
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Off Alley,Assigned,Parking Lot,Yes
Financial Details
- Tax Amount: $4,130
- Taxes w/Assessments: N/A
- Tax/Property ID: 20102100501001
- Tax Year: 2024
Payment Calculator
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Questions About..
4837 S Forrestville Ave Unit 1 Chicago, IL 60615
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