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$375,000 Just Listed
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Property Description
2 (2) bedroom 1 bath apartment, and (2) 1000 Sqft store fronts or office space on lower level. Currently spaces are combined but utilities are separate and can be re-divided with simply a wall. 2 parking spaces in rear of building as well. Building is as-is but recently renovated. The commercial space has endless opportunities with it being on busy 127th st. Start your new business with the confidence of continued money flow while renting 2 apartments on 2nd Flr. Property is only 2 blocks east of i57 highway. Bring all offers! Property is AS-IS room count and size is estimated. Broker interest.
Full Property Details
Full Property Details for 1506 W 127th St
General
- Price: $375,000
- Taxes: $8,380 (2025)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12738149
- Updated: 8/20/2026
- Added to Site: 1 day(s) ago
Interior
- Flooring: Tile, Vinyl
Additional Information
- Security/Safety: Carbon Monoxide Detector(s)
Location
- Area: Calumet Park
- County: Cook
- Township: Calumet
- Driving Directions: I57 south to 127th st. East to 1506
- Location Details: South Suburban
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window Unit(s)
- Heating Type: Electric, Forced Air
Utilities
- Trash: 1100
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Sub-Flooring: Tile, Vinyl
- Stories/Levels: 2
- Square Feet: 2,900
- # of Stores: 2
- Year Built: 1966
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 2
- Units w/Range/Oven: 2
Lot Features
- Lot Size (Sq. Ft.): 3,200
- Lot Dimensions: 50 x 100
- Zoning: MULTI
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Insurance Fee: $2,200
- Other Fee: $1,400
- Security Deposit: Carbon Monoxide Detector(s)
- Assessment Year: 1966
- Tax Amount: $8,380.79
- Tax Year: 2025
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 1000
- Pays Trash: 1100
Disclosures and Reports
- Property ID: 25293220590000
Listed by Land of Lincoln Realty, Inc.
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Schools
Schools serving 1506 W 127th St
School Districts:Calumet Public School District 132, Community High School District 218
| Name | Grades | Distance |
|---|---|---|
Burr Oak Academy 1441 West 124th Street, Calumet Park, IL 60827 | PK-2 | 0.3 mi |
Burr Oak Elementary School, Calumet Park, IL 1440 West 125th Street, Calumet Park, IL 60827 | 3-5 | 0.3 mi |
Calumet Elementary School 1440 West Vermont Street, Calumet Park, IL 60827 | 6-8 | 0.6 mi |
A B Shepard High School (Campus) 13049 South Ridgeland Avenue, Palos Heights, IL 60463 | 9-12 | 6.1 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Tax History
Tax History for 1506 W 127th St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$7,542
-29%
$15,000
-10%
2022
$10,654
4%
$16,586
—
2021
$10,272
2%
$16,586
—
2020
$10,103
-11%
$16,586
-17%
2019
$11,374
-2%
$19,910
—
2018
$11,555
4%
$19,910
—
2017
$11,140
22%
$19,910
17%
2016
$9,105
4%
$17,062
—
2015
$8,729
-1%
$17,062
—
2014
$8,832
4%
$17,062
-10%
2013
$8,483
2%
$19,003
—
2012
$8,338
—
$19,003
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1506 W 127th St
1506 W 127th Street, Calumet Park, IL 60827 (MLS# 12738149) is a Commercial property. 1506 W 127th Street is currently listed for $375,000 and was received on August 20, 2026. Want to learn more about 1506 W 127th Street? Do you have questions about finding other Commercial real estate for sale in Calumet Park? You can browse all Calumet Park real estate or contact a Coldwell Banker agent to request more information.

