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$580,000 Just Listed
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Property Description
Outstanding mixed-use investment opportunity in Chicago's vibrant Gage Park neighborhood! Located along the busy 51st Street commercial corridor, this versatile property features a high-visibility ground-floor commercial space paired with two residential units above. Benefiting from flexible B3-1 Community Shopping District zoning, the main-level commercial footprint is ideally suited for a storefront retail business, professional office, neighborhood service shop, or medical space. The upper-level apartment units deliver steady supplemental rental income, making this an ideal asset for an owner-operator seeking to run a business on-site or a value-add investor looking for consistent cash flow. Conveniently positioned near Kedzie Avenue, public transit options, and local neighborhood anchor businesses, this high-exposure asset presents excellent long-term upside in an established Chicago corridor.
Full Property Details
Full Property Details for 2724 W 51st St
General
- Price: $580,000
- Taxes: $6,027 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12740487
Additional Information
- Security/Safety: Fire Extinguisher(s)
Location
- Area: CHI - Gage Park
- County: Cook
- Driving Directions: Californa Ave to 51st St East to Property
- Location Details: Chicago South
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 2
- Square Feet: 4,368
- Year Built: 1965
- Built Before 1978: Yes
Unit Information
- # Tenants: 3
Lot Features
- Lot Size (Sq. Ft.): 4,183
- Lot Dimensions: 33 x 126
- Zoning: COMMR
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Insurance Fee: $3,500
- Security Deposit: Fire Extinguisher/s
- Assessment Year: 1965
- Tax Amount: $6,027.41
- Tax Year: 2024
Disclosures and Reports
- Property ID: 19122180310000
Listed by Realty of America, LLC
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Schools
Schools serving 2724 W 51st St
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Nightingale Elementary School 5250 South Rockwell Street, Chicago, IL 60632 | K-8 | 0.3 mi |
Thomas Kelly College Preparatory 4136 South California Avenue, Chicago, IL 60632 | 9-12 | 1.2 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 2724 W 51st St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$4,853
—
$30,001
30%
2023
$4,853
3%
$22,999
—
2022
$4,730
2%
$22,999
—
2021
$4,625
10%
$22,999
21%
2020
$4,219
-5%
$18,939
-14%
2019
$4,425
2%
$22,023
—
2018
$4,350
-20%
$22,023
-13%
2017
$5,446
29%
$25,300
—
2016
$4,210
1%
$25,300
—
2015
$4,155
11%
$25,300
12%
2014
$3,730
2%
$22,671
—
2013
$3,645
10%
$22,671
—
2012
$3,301
—
$22,671
—
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 2724 W 51st St
2724 W 51st Street, Chicago, IL 60632 (MLS# 12740487) is a Commercial property. 2724 W 51st Street is currently listed for $580,000 and was received on August 23, 2026. Want to learn more about 2724 W 51st Street? Do you have questions about finding other Commercial real estate for sale in Gage Park? You can browse all Gage Park real estate or contact a Coldwell Banker agent to request more information.

