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About the Listing 1808 - 267291
ENTIRE BLOCK opportunity in Chicago's Vincennes Village. 24-unit multifamily complex with a stamped architectural pricing set already in hand. Four contiguous four-story masonry buildings address 7200-7206 S Vincennes Ave and 7203-7205 S Wentworth Ave, with onsite manager's office and an interior community courtyard. Current configuration is 24 units (12 two-bedroom/one-bath and 12 one-bedroom/one-bath), six units per building. Zoned C1-2. The buyer steps into a fully designed, fully scoped rehab - not a guess. The complete architectural pricing set (dated 04/24/2026, Michael Office of Architecture) reconfigures the property to 26 units by adding new basement units and converting select upper-floor one-bedrooms into two-bedrooms. The sale includes the entire block - buildings plus the contiguous vacant parcel to the south. Drawings convert that south parcel into a 24-stall striped parking lot with new storm water system, masonry trash enclosure, landscaping, wrought iron fencing, and a 12' remote sliding gate. Extensive rehab needed across all four buildings - masonry restoration, structural repairs, full window/door replacement, complete MEP (all-electric base bid with gas alternates priced), and full interior finishes spec'd as contractor-grade for-rent. Protective canopies and secure entries are already in place. The property sits in a designated Qualified Opportunity Zone (60621). Investors rolling capital gains into a Qualified Opportunity Fund that acquires and substantially improves this asset can defer the original gain and eliminate federal tax on all appreciation if the QOF interest is held 10+ years. A heavy rehab basis clears the substantial-improvement test cleanly, and a stabilized multifamily reposition lines up with the 10-year hold horizon - materially better after-tax IRR than a non-OZ comparable for HNW investors carrying a large unrealized gain. Sold as-is. Full architectural pricing set, design narrative, survey, and photos available to qualified buyers on request.
Listing Highlights
Status
Active
Days on Site
16
Property Type
Multi-Family
MLS ®
12649787
Year Built
1914
Total Square Footage
0
Lot/Acreage
0.38
County
Cook
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Central Bldg Heat,Radiators
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 16598
- Zoning: MULTI
- Roof: Rubber
- Others:
- Sewer:
Financial Details
- Tax Amount: $15,555
- Taxes w/Assessments: N/A
- Tax/Property ID: 20282120010000
- Tax Year: 2024
Payment Calculator
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Questions About..
7200 S Vincennes Ave Chicago, IL 60621
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