7751 S Phillips Avenue, Chicago, IL 60649

Chicago
Local realty services provided by:Better Homes and Gardens Real Estate Connections
7751 S Phillips Avenue,Chicago, IL 60649
$400,000
  • 7 Beds
  • 4 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: jason marsing
Office: fulton grace realty
MLS#:12560835
Source:MLSNI

Price summary

  • Price:$400,000

About this home

Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents,...

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Home facts

  • Year built:1923
  • Listing ID #:12560835
  • Updated:October 10, 2026 at 11:28 AM

Rooms and interior

  • Bedrooms:7
  • Total bathrooms:4
  • Full bathrooms:3
  • Half bathrooms:1
  • Rooms Total:17
  • Basement Description:Full, Unfinished

Heating and cooling

  • Heating:Radiant, Radiator(s)

Structure and exterior

  • Year built:1923

Utilities

  • Water:Lake Michigan
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$400,000
  • Tax amount:$3,388 (2023)

Parking

  • Total parking spaces:3
  • Parking description:Off Alley
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