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6555 S King Drive

Chicago, IL 60637
  • $2,250,000
  • STATUS: Active
  • ON SITE: 132 Days
  • MLS #: 12125622
UPDATED: 56 min ago
$2,250,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1908
County:
Area:

School Ratings & Info

Description

Take this opportunity to own a solid brick, 24 unit walk-up apartment building with a very desirable unit mix of all 2bed/1bath units. This property is located in the W. Woodlawn area, and was gutted down to the bricks and completely renovated just a few years ago. In addition to a new roof, new copper plumbing, new electrical, and new gas lines for the building, every unit was rehabbed with hardwood floors, new walls, new kitchens and bathrooms, new windows, in- unit circuit breakers, and individual gas forced air furnaces. There are four separate entrances - one on S. King Drive and the other three on 66th St. - and each one has exposed brick walls and a skylight that floods each entrance and stairway with an abundance of natural light. There are four separate basement entrances accessible through the rear courtyard, and one of these basements has a laundry area with 2 washers and 2 dryers available for tenant use. The Woodlawn area has seen tremendous change over the past few years, with the soon to be completed Obama Presidential Library (2 miles east of this property) driving change in E. Woodlawn, and other developments bringing change to the rest of the community. Just across 66th street from the 3 entrances to this property, the Rev. Corey Brooks and his Project H.O.O.D. are building the new 85,000 sq. ft. Robert R. McCormick Leadership and Economic Opportunity Center. This new community center will teach trades, entrepreneurship, music, and arts. It will also house a swimming pool and have other athletic facilities. There is easily accessible public transportation serving this area, with the CTA green line (light rail line) stop located 2 blocks north of the property and the CTA #3 bus line running north and south down King Drive - with a stop just outside the 6553 entrance to the building.

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© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-17T11:06:15.04 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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6555 S King Drive Chicago, IL 60637

  • Price: $2,250,000
  • Status: Active
  • On Site: 132 Days
  • Updated: 56 min ago
  • MLS #: 12125622
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1908
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Property Description
Take this opportunity to own a solid brick, 24 unit walk-up apartment building with a very desirable unit mix of all 2bed/1bath units. This property is located in the W. Woodlawn area, and was gutted down to the bricks and completely renovated just a few years ago. In addition to a new roof, new copper plumbing, new electrical, and new gas lines for the building, every unit was rehabbed with hardwood floors, new walls, new kitchens and bathrooms, new windows, in- unit circuit breakers, and individual gas forced air furnaces. There are four separate entrances - one on S. King Drive and the other three on 66th St. - and each one has exposed brick walls and a skylight that floods each entrance and stairway with an abundance of natural light. There are four separate basement entrances accessible through the rear courtyard, and one of these basements has a laundry area with 2 washers and 2 dryers available for tenant use. The Woodlawn area has seen tremendous change over the past few years, with the soon to be completed Obama Presidential Library (2 miles east of this property) driving change in E. Woodlawn, and other developments bringing change to the rest of the community. Just across 66th street from the 3 entrances to this property, the Rev. Corey Brooks and his Project H.O.O.D. are building the new 85,000 sq. ft. Robert R. McCormick Leadership and Economic Opportunity Center. This new community center will teach trades, entrepreneurship, music, and arts. It will also house a swimming pool and have other athletic facilities. There is easily accessible public transportation serving this area, with the CTA green line (light rail line) stop located 2 blocks north of the property and the CTA #3 bus line running north and south down King Drive - with a stop just outside the 6553 entrance to the building.
Exterior Features

Frontage Type City Street

Interior Features

Basement Unfinished Cooling Window Unit(s) Heat Ventilation Forced Air Number Of Ranges 24

Property Features

Additional Parcels YN No Approximate Age New Rehab Built Before1978 YN Yes Current Use Multi-Family Electric Circuit Breakers Fire Protection Sprinklers Gross Income 305844 Gross Scheduled Income 305844 Insurance Expense 11982 Maintenance Expense 7500 Mls Actual Status Active Net Operating Income 119578 Operating Expense 165853 Ownership Types Individual Possible Use Condominium Seller Needs Other Tax Annual Amount 37718 Tax Year 2022 Tenant Pays ElectricityHeat Total Monthly Income 25487 Type Multi Family 5+

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of Pearson Realty Group: 773-325-2800.


© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-17T11:06:15.04 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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7300 S Cottage Grove Ave Suite B
Chicago IL, 60619-1910