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$849,000

  • For Sale
  • Active
  • Multi-Family
  • 8 Total Beds
  • Updated 8 hours ago
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Exceptional investment opportunity in the heart of historic Bronzeville. This fully renovated three-unit building at 4040 S. Calumet Ave offers investors a rare turn-key asset with strong income and long-term appreciation potential. The property has undergone a complete rehabilitation in recent years, with significant updates throughout the building. Each unit is currently rented at above-market rents, providing immediate cash flow and stable tenancy for the new owner. The building has been well-maintained and updated, making it an ideal low-maintenance addition to an investment portfolio. With continued development and rising demand in Bronzeville, this property is well-positioned to benefit from long-term neighborhood growth and increasing property values. Located just minutes from downtown Chicago, residents enjoy easy access to public transportation, major expressways, and nearby amenities, including Washington Park, the Lake Michigan lakefront, and the DuSable Black History Museum and Education Center. The property is being sold in as-is condition and represents a rare opportunity to acquire a stabilized multi-unit in one of Chicago's most dynamic and rapidly appreciating neighborhoods.

Full Property Details for 4040 S Calumet Ave

General

  • Price: $849,000
  • Taxes: $11,292 (2024)
  • Status: Active
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12584754
  • Updated: 4/15/2026
  • Added to Site: 33 day(s) ago

Rental Information

  • Complex Features: Park, Curbs, Sidewalks, Street Lights, Street Paved

Interior

  • Basement: None

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Upper - Full Baths: 4

Bedrooms

  • Total Bedrooms: 8

Additional Information

  • Other Features: School Bus Service, Commuter Bus, Commuter Train, Interstate Access

Location

  • Area: CHI - Grand Boulevard
  • County: Cook
  • Township: Hyde Park
  • Driving Directions: South on S. MLK Drive towards E. 41st, make a right on E. 41st Street, right on S. Calumet Avenue. Property on left.

School Information

  • School District: 299
  • Elem School District: 299
  • Midd School District: 299
  • High School District: 299
  • Elementary School: Wells Preparatory Elementary Sch
  • Middle School: Wells Preparatory Elementary Sch
  • High School: Phillips Academy High School
  • Private School: Phillips Academy High School

Heating & Cooling

  • Heating Type: Natural Gas, Forced Air

Utilities

  • Sewer: Public Sewer
  • Water: Public

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Basement Desc.: None
  • Windows: Screens
  • Year Built: 1893
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 3

Lot Features

  • Lot Size (Acres): 0.07
  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 25 x 129 x 25 x 129
  • Lot Features: Landscaped
  • Zoning: MULTI

Financial Considerations

  • Assessment Year: 1893
  • Tax Amount: $11,292.07
  • Tax Year: 2024
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 20031100401004

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— 4040 S Calumet Ave —

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 4040 S Calumet Ave

School District:Chicago Public School District 299
NameGradesDistance
Wells Preparatory Elementary Academy
249 East 37th Street, Chicago, IL 60653
K-80.4 mi
Phillips Academy High School
244 East Pershing Road, Chicago, IL 60653
12-110.3 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 4040 S Calumet Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/13/2026
Listed
$849,000
65.18%
MLS
11/03/2022
Sold
$514,000
—
Public Record
Get Price Alerts and Save Property
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 for 4040 S Calumet Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$4,898
3%
$23,139
—
2022
$4,774
-41%
$23,139
-42%
2021
$8,068
77%
$40,000
96%
2020
$4,547
-2%
$20,413
-12%
2019
$4,661
-6%
$23,197
-8%
2018
$4,971
250%
$25,164
282%
2017
$1,419
—
$6,590
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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4040 S Calumet Avenue, Chicago, IL 60653 (MLS# 12584754) is a Multi-Family property with 3 units containing 8 bedrooms and 0 full bathrooms. 4040 S Calumet Avenue is currently listed for $849,000 and was received on March 13, 2026. Want to learn more about 4040 S Calumet Avenue? Do you have questions about finding other Multi-Family real estate for sale in Grand Boulevard? You can browse all Grand Boulevard real estate or contact a Coldwell Banker agent to request more information.

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