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$325,000
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Property Description
Incredible Investment Opportunity in Prime Mount Greenwood! Here's your chance to own a well-maintained mixed-use two-flat in one of the most desirable high-traffic corridors on 111th Street in Mount Greenwood. This property offers excellent visibility, stable income, and significant upside potential. The building includes a 400 sq ft commercial space in the front and a spacious 3-bedroom, 1-bath residential unit in the rear-plus a full unfinished attic that offers future expansion potential. There's also a 2-car garage in the rear. The property has been well cared for, and both units are currently occupied with long-time, month-to-month tenants. Rents have not been raised in many years, offering immediate value-add opportunity by adjusting to market rate. The adjacent vacant 25 x 125 lot is also available for just $100,000 additional. Use it for expanded parking, outdoor space, or future development-the possibilities are endless. Both parcels have separate PINs and can be sold together. Whether you're looking to increase cash flow, expand your portfolio, or secure a prime piece of real estate in a sought-after business district, this is a must-see opportunity.
Full Property Details
Full Property Details for 3251 W 111th St
General
- Price: $325,000
- Taxes: $3,206 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12420638
- Updated: 7/29/2025
- Added to Site: 178 day(s) ago
Additional Information
- Security/Safety: Fire Extinguisher(s)
Location
- Area: CHI - Mount Greenwood
- County: Cook
- Township: Lake
- Driving Directions: WEST OF WESTERN AVENUE; EAST OF PULASKI AVENUE; NORTH OF 119TH; SOUTH OF 95TH; GO WEST ON 111TH ST.
- Location Details: Chicago South, Central Business District
Heating & Cooling
- Cooling Type: Wall Sleeve
- Heating Type: Forced Air, Gas
Structural Information
- Construction: Wood, Frame
- Exterior Const.: Wood, Frame
- Foundation: Brick/Mortar, Concrete Perimeter
- Stories/Levels: 2
- # of Stores: 1
- Year Built: 1919
- Built Before 1978: Yes
Lot Features
- Lot Size (Sq. Ft.): 6,313
- Lot Dimensions: 50 x 125
- Frontage: City Street
- Potential Use: Commercial, Multi-Family, Retail
- Zoning: COMMR
Financial Considerations
- Lease Price: $12
- Security Deposit: Fire Extinguisher/s
- Assessment Year: 1919
- Tax Amount: $3,206
- Tax Year: 2023
- Tenant Pays: Electricity, Heat
Disclosures and Reports
- Property ID: 24232060040000
Listed by @properties Christie's International Real Estate
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Schools
Schools serving 3251 W 111th St
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Cassell Elementary School 11314 South Spaulding Avenue, Chicago, IL 60655 | K-8 | 0.3 mi |
Morgan Park High School 1744 West Pryor Avenue, Chicago, IL 60643 | 9-12 | 1.9 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 3251 W 111th St
Date
Details
Price
Change
Source
7/23/2025
Listed
$325,000
100.62%
MLS
6/14/2017
Sold
$162,000
—
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 3251 W 111th St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$3,206
5%
$14,000
—
2022
$3,054
4%
$14,000
—
2021
$2,940
-13%
$14,000
-4%
2020
$3,386
-1%
$14,579
-11%
2019
$3,432
2%
$16,381
—
2018
$3,375
14%
$16,381
-1%
2017
$2,960
1%
$16,595
—
2016
$2,940
10%
$16,595
—
2015
$2,670
3%
$16,595
4%
2014
$2,584
3%
$15,915
—
2013
$2,520
—
$15,915
—
2012
$2,520
—
$15,915
—
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 3251 W 111th St
3251 W 111th Street, Chicago, IL 60655 (MLS# 12420638) is a Commercial property. 3251 W 111th Street is currently listed for $325,000 and was received on July 23, 2025. Want to learn more about 3251 W 111th Street? Do you have questions about finding other Commercial real estate for sale in Mount Greenwood? You can browse all Mount Greenwood real estate or contact a Coldwell Banker agent to request more information.

