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$688,000
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Property Description
Seize this rare opportunity to own a multi-unit property in the thriving heart of Chinatown-one of Chicago's most dynamic and rapidly growing neighborhoods! This versatile building offers two main units plus a finished basement unit, all equipped with central heating and cooling for year-round comfort. Sun-filled interiors and a 2-car garage add even more value to this exceptional offering. The property is currently occupied by long-term tenants, with rents priced far below market-creating immediate upside for the savvy investor. Whether you choose to renovate, reposition, or simply bring rents to market levels, the cash-flow potential is tremendous. Location is everything, and this one has it all: just steps from CTA transportation, restaurants, shops, parks, and banks, with unbeatable access to major highways. Convenience and demand in this area continue to rise. Additional Highlight: this property sits directly beside a large vacant lot poised for major future development in Chinatown. Owning next to a significant development site positions you perfectly to benefit from appreciation and increased neighborhood visibility. Opportunities like this are truly rare. Don't miss your chance to secure a high-potential multi-unit property in one of Chicago's most desirable and evolving communities!
Full Property Details
Full Property Details for 318 W 24th Pl
General
- Price: $688,000
- Taxes: $9,442 (2024)
- Status: Active
- Type: Multi-Family
- Source: MRED
- MLS ID: 12531212
- Updated: 12/16/2025
- Added to Site: 37 day(s) ago
Rental Information
- Complex Features: Park, Sidewalks, Street Lights
Interior
- Basement: Finished, F
Rooms
Bathrooms
- Total Bathrooms: 3
- Upper - Full Baths: 3
Bedrooms
- Total Bedrooms: 7
Additional Information
- Other Features: Commuter Bus
Parking
- Garage: Yes
- Garage Spaces: 2
- Total Spaces: 2
- Parking Features: Yes, Garage Owned, Detached, Garage
Location
- Area: CHI - Armour Square
- County: Cook
- Township: South Chicago
- Driving Directions: S Wentworth Ave to 24th Place
School Information
- School District: 299
- Elem School District: 299
- Midd School District: 299
- High School District: 299
Heating & Cooling
- Heating Type: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Vinyl Siding, Brick
- Exterior Const.: Vinyl Siding, Brick
- Basement: Yes
- Basement Desc.: Finished, Full
- Foundation: Concrete Perimeter
- Roof: Asphalt
- Year Built: 1890
- Built Before 1978: Yes
Unit Information
- Units in Building: 3
Lot Features
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 25 x 125
Financial Considerations
- Parking Included: Yes
- Assessment Year: 1890
- Tax Amount: $9,442.68
- Tax Year: 2024
- Pays Sewer: Public Sewer
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: List Broker Must Accompany
- Property ID: 17282210250000
Listed by Mango Realty Group
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Schools
Schools serving 318 W 24th Pl
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Haines Elementary School, Chicago, IL 247 West 23rd Place, Chicago, IL 60616 | PK-8 | 0.1 mi |
Phillips Academy High School 244 East Pershing Road, Chicago, IL 60653 | 12-11 | 1.8 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 318 W 24th Pl
Date
Details
Price
Change
Source
12/10/2025
Listed
$688,000
127.06%
MLS
1/20/2017
Sold
$303,000
—
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 318 W 24th Pl
Year
Property Taxes
Change
Tax Assessment
Change
2023
$10,396
3%
$49,272
—
2022
$10,134
-13%
$49,272
-15%
2021
$11,663
56%
$58,000
73%
2020
$7,481
-4%
$33,580
-13%
2019
$7,755
2%
$38,598
—
2018
$7,624
18%
$38,598
28%
2017
$6,470
74%
$30,054
—
2016
$3,709
4%
$30,054
—
2015
$3,565
-30%
$30,054
9%
2014
$5,098
44%
$27,477
—
2013
$3,546
7%
$27,477
—
2012
$3,320
—
$27,477
—
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 318 W 24th Pl
318 W 24th Place, Chicago, IL 60616 (MLS# 12531212) is a Multi-Family property with 3 units containing 7 bedrooms and 0 full bathrooms. 318 W 24th Place is currently listed for $688,000 and was received on December 10, 2025. Want to learn more about 318 W 24th Place? Do you have questions about finding other Multi-Family real estate for sale in Armour Square? You can browse all Armour Square real estate or contact a Coldwell Banker agent to request more information.

