This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/3
$28,000 Just Listed
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/3
Property Description
Build your vision on this oversized Chicago lot, offering endless potential in a residential pocket of West Pullman just steps from established single-family and multi-unit homes. With approximately 4,500+ square feet of land to work with, this parcel is ideal for ground-up new construction or a strategic buy-and-hold addition to your investment portfolio. Enjoy convenient access to I-57, nearby parks, schools, shopping, and public transportation, making this a strong option for future resale or rental demand. Drive by, imagine the possibilities, and bring your architect, builder, and plans-this is your opportunity to create the next great home or income-producing property on a classic Chicago block.
Full Property Details
Full Property Details for 12242 S Wallace St
General
- Price: $28,000
- Taxes: $846 (2023)
- Status: Active
- Type: Lots/Land
- Source: MRED
- MLS ID: 12548170
- Updated: 1/16/2026
- Added to Site: 2 day(s) ago
Location
- Area: CHI - West Pullman
- County: Cook
- Township: Lake
- Driving Directions: W 127th St and S Halsted St to S Wallace St in Chicago
School Information
- School District: 299
- Elem School District: 299
- Midd School District: 299
- High School District: 299
Utilities
- Onsite: Electricity Nearby, Natural Gas Nearby
Structural Information
- Square Feet: 0.1
- Current Bldg. Use: Single Family
Lot Features
- Lot Size (Acres): 0.1
- Lot Size Range: Standard Chicago Lot
- Lot Dimensions: 37 x 123
- Frontage: City Street
- Frontage Feet: 37
- Street/Road Desc.: Asphalt
Financial Considerations
- Tax Amount: $846
- Tax Year: 2023
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 25281270320000
Listed by Keller Williams Preferred Realty
Get Pre-Approved Today
Get a Great Insurance Rate
Schools
Schools serving 12242 S Wallace St
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Metcalfe Elementary Community Academy 12339 South Normal Avenue, Chicago, IL 60628 | K-8 | 0.2 mi |
Fenger Academy High School 11220 South Wallace Street, Chicago, IL 60628 | 9-12 | 1.3 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 12242 S Wallace St
Date
Details
Price
Change
Source
1/15/2026
Listed
$28,000
-67.82%
MLS
7/22/2004
Sold
$87,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 12242 S Wallace St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$846
3%
$3,999
—
2022
$825
2%
$3,999
—
2021
$806
-63%
$3,999
-59%
2020
$2,199
-1%
$9,848
-11%
2019
$2,229
2%
$11,066
—
2018
$2,191
-3%
$11,066
5%
2017
$2,263
7%
$10,491
—
2016
$2,106
9%
$10,491
—
2015
$1,927
-7%
$10,491
-6%
2014
$2,081
2%
$11,186
—
2013
$2,039
1%
$11,186
—
2012
$2,012
—
$11,186
—
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 12242 S Wallace St
12242 S Wallace Street, Chicago, IL 60628 (MLS# 12548170) is a Lots/Land property with a lot size of 0.1 acres. 12242 S Wallace Street is currently listed for $28,000 and was received on January 15, 2026. Want to learn more about 12242 S Wallace Street? Do you have questions about finding other Lots/Land real estate for sale in West Pullman? You can browse all West Pullman real estate or contact a Coldwell Banker agent to request more information.

