2537 East 83rd Street, Chicago, IL

$539,900

Previous Next

0.25

Acres

About 2537 East 83rd Street

Located in the South Chicago area, this impressive 13-unit California-style building presents a rare opportunity to build significant equity. Each unit offers 1/BED 1 BATH, a separate living and dining room, and a spacious kitchen. While all units require a FULL renovation, upgrading the units with stainless steel appliances, in-unit laundry, and modern fixtures could greatly enhance rental potential to $1200 per unit. Once fully stabilized, the property offers forecasted rental income of $15,600 per month ($187,200 annually). The property features a BRAND-NEW steel porch approved by the City of Chicago in July 2025. There's Additional parking alongside the building. Currently, only 4 of the 13 units are rented. This is a prime opportunity for an investor looking to unlock long-term income in a rapidly evolving location. The building is close to grocery stores, U.S. 41, and public transportation making it highly attractive for future tenants. Property is being sold AS-IS.

Features of 2537 East 83rd Street

MLS® # 12475012
Price $539,900
Bathrooms 0.00
Acres 0.25
Year Built 1967
Type Commercial Sale
Sub-Type Multi Family 5+
Status Contingent

Community Information

Address 2537 East 83rd Street
Area CHI - South Chicago
City Chicago
County Cook
State IL
Zip Code 60617

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Window Unit(s)
Fireplace No
Has Basement Yes
Basement Walk-Up Access

Exterior

Exterior Brick
Roof Rubber
Foundation Concrete Perimeter

Additional Information

Days on Market 21
Zoning COMMR
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeColdwell Banker Realty
Contact Info708-424-4000

Listing Map

Request a Showing

Provide a valid email address.
When would you like to view this property?