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$1,705,000
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Property Description
7.5 CAP Breathe Rare Air. The sellers of this property portfolio are not just seasoned investors; they are passionate visionary stewards with over 45 years of experience in branded high quality property development and management. Since 2007, they have meticulously curated each asset in the Bronzeville collection, focusing on longevity, quality, and the future potential of every investment. Every property reflects an unwavering commitment to excellence. From intelligent design choices to extensive renovations and improvements that prioritize durability, modernity, and lifestyle, they ensured no detail is overlooked. Their approach integrates a long-term vision with a hands-on philosophy, balancing aesthetic appeal and functionality while fostering strong tenant communities. A rare opportunity to obtain a sizeable AAA turnkey footprint from the best of the best. Welcome to 4240-42 S Calumet set in well located Dynamic Bronzeville 1/4 block to Green Line , Pendalton Park, 2 blocks to the future 100M Bronzeville Trail connecting to Chicago's world class Lakefront offering a stately elegant masonry and limestone fully stabilized center entrance side by side 6 residential units + 8 gated parking spaces spanning 50 feet of frontage. Originally developed as condominiums, the development team de converted and completed an extensive renovation and notable documented capital improvements offering abundant choice for numerous investment objectives. Craftsman designed iron fencing, inspired botanical garden park like setting rivaling arboretum status, zoned irrigation system inclusive of grounds controlled by phone app, cobbled granite pavers, edging banded in Cor-ten steel often used for monumental sculptures like Chicago's Picasso, exotic tree placards emulating the Botanical Gardens listing the origin, name and year planted. Intelligent expansive and diverse floorplans, unit mix offering includes: (2) extraordinary 4-bedroom 3 bath duplexes which live like single family homes, (4) expansive exceptional 3 bedroom 2 baths all with generous open flow, exposed brick, crown molding, individual HVAC, washer dryers in unit, custom closets, window treatments, dimmers, designer lighting, heated floors, composite rear decking, common area hotel caliber, intricate mill work and professional grade art offer a coveted branded lifestyle and a soft sampling of the exhausting list of unit features. 127,872.17 NOI Please see brokers private remarks for additional scalable opportunities.
Full Property Details
Full Property Details for 4240 S Calumet Ave
General
- Price: $1,705,000
- HOA FEE: $5,491
- Taxes: $14,772 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12673264
Rental Information
- Lease/Rent Term: 12 Months
Interior
- Basement: Finished
- Interior Features: Skylight(s), Storage Inside
Additional Information
- Security/Safety: Fire Extinguisher(s), Other, Carbon Monoxide Detector(s)
Location
- Area: CHI - Grand Boulevard
- County: Cook
- Township: Hyde Park
- Driving Directions: KING DR TO 43 ST W TO CALUMET N TO ADDRESS.
- Location Details: Corner
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas
Utilities
- Trash: 2585
Structural Information
- Construction: Brick, Stone
- Exterior Const.: Brick, Stone
- Basement: Yes
- Basement Desc.: Finished
- Foundation: Concrete Perimeter
- Stories/Levels: 3
- Current Bldg. Use: Multi-Family
- Year Built: 1900
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 6
- Units w/Range/Oven: 6
- # Dryers: 6
Lot Features
- Lot Size (Sq. Ft.): 6,493
- Lot Dimensions: 50 x 129.85
- Frontage: City Street
- Potential Use: Condominium
- Zoning: MULTI
Financial Considerations
- Maint. Fee: $5,491
- Insurance Fee: $11,262
- Operating Expenses: $46,153
- Other Fee: $28,627
- Security Deposit: Fire Extinguisher/s, Other, Carbon Monoxide Detector(s)
- Assessment Year: 1900
- Tax Amount: $14,772.67
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Electricity, Heat, Other, Hot Water
- Pays Electric: 1021
- Pays Trash: 2585
Disclosures and Reports
- Documents Avail.: Rent Roll, Leases, Floor Plan, Existing Survey, Backup Package, Operating Statement
- Property ID: 20031120510000
Listed by North Clybourn Group, Inc.
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Schools
Schools serving 4240 S Calumet Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Mollison Elementary School 4415 S Dr Martin L King Jr Dr, Chicago, IL 60653 | PK-8 | 0.2 mi |
Phillips Academy High School 244 East Pershing Road, Chicago, IL 60653 | 12-11 | 0.5 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 4240 S Calumet Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$8,547
—
$79,521
97%
2023
$8,547
—
$40,378
-3%
2022
$8,589
2%
$41,629
—
2021
$8,396
37%
$41,629
51%
2020
$6,140
-1%
$27,561
-12%
2018
$6,187
-2%
$31,320
—
2019
$6,293
—
$31,320
7%
2017
$6,323
4%
$29,371
-3%
2016
$6,070
—
$30,306
—
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 4240 S Calumet Ave
4240 S Calumet Avenue, Chicago, IL 60653 (MLS# 12673264) is a Commercial property. 4240 S Calumet Avenue is currently listed for $1,705,000 and was received on June 10, 2026. Want to learn more about 4240 S Calumet Avenue? Do you have questions about finding other Commercial 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.

