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About the Listing 85348 - 183301
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.
Listing Highlights for 7042 S Michigan Ave
Interior Details
- Appliances:
- Air Cond:
- Heating: Radiators
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 90x156
- Zoning: MULTI
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $31,248
- Taxes w/Assessments: N/A
- Tax/Property ID: 20223210240000
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
7042 S Michigan Ave Chicago, IL 60637
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