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6557 S Minerva Avenue

Chicago, IL 60637
  • $1,600,000
  • STATUS: Active
  • ON SITE: 133 Days
  • MLS #: 12170537
Price Reduced
$1,600,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1903
County:
Area:

School Ratings & Info

Description

We are pleased to present for sale 6557 S Minerva, a three-story 10-unit apartment building located in the East Woodlawn neighborhood of Chicago. The property is located ~six blocks west of the Jackson Park Golf Course and ~5 blocks south of The University of Chicago, in immediate proximity to the future Obama Presidential Library. The property experienced a complete gut rehab in 2004 deconverting unit count from 12 to 10 for multi-floor, condo-quality residences. The unit makeup is: five (5) 3 Bed/2 Bath & five (5) 2 Bed/2 Bath. All units feature hardwood flooring and tile throughout and modern kitchen features: granite countertops, modern cabinets, updated appliances, and dishwashers. The property also features copper plumbing, in-unit updated electric boxes, and in-unit laundry facilities From an economic perspective, the property features residents with below-market rental rates that allows a future operator to benefit from the opportunity to bring leases to market rental rates in a location that benefits from long-term economic improvement investment stability. In-place 7.8 cap rate and 10.9 cap rate with stabilized market rents. Listing broker has interest in the property.

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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 2025-02-05T23:59:05.13 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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6557 S Minerva Avenue Chicago, IL 60637

  • Price: $1,600,000
  • Status: Active
  • On Site: 133 Days
  • MLS #: 12170537
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1903
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Property Description
We are pleased to present for sale 6557 S Minerva, a three-story 10-unit apartment building located in the East Woodlawn neighborhood of Chicago. The property is located ~six blocks west of the Jackson Park Golf Course and ~5 blocks south of The University of Chicago, in immediate proximity to the future Obama Presidential Library. The property experienced a complete gut rehab in 2004 deconverting unit count from 12 to 10 for multi-floor, condo-quality residences. The unit makeup is: five (5) 3 Bed/2 Bath & five (5) 2 Bed/2 Bath. All units feature hardwood flooring and tile throughout and modern kitchen features: granite countertops, modern cabinets, updated appliances, and dishwashers. The property also features copper plumbing, in-unit updated electric boxes, and in-unit laundry facilities From an economic perspective, the property features residents with below-market rental rates that allows a future operator to benefit from the opportunity to bring leases to market rental rates in a location that benefits from long-term economic improvement investment stability. In-place 7.8 cap rate and 10.9 cap rate with stabilized market rents. Listing broker has interest in the property.
Interior Features

Cooling Central Air Heat Ventilation Individual Furnaces

Property Features

Additional Parcels YN No Approximate Age Older Built Before1978 YN Yes Gross Income 252000 Gross Scheduled Income 252000 Insurance Expense 8200 Maintenance Expense 7000 Mls Actual Status Active Net Operating Income 173834 Operating Expense 65566 Tax Annual Amount 16516 Tax Year 2023 Tenant Pays Air ConditioningElectricityHeatHot Water Total Monthly Income 21000 Type Multi Family 5+ Zoning MULTI

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of 33 Realty: 773-327-4975.


© 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 2025-02-05T23:59:05.13 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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Ani Real Estate
7300 S Cottage Grove Ave Suite B
Chicago IL, 60619-1910