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$749,000 Just Listed
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Property Description
Welcome to this lovely property located in Chicago's Washington Park neighborhood consisting of an all-brick exterior with 8 units. This multifamily property located in One of Chicagos premier communities features SIX spacious 3-bedroom/1-bath units and two versatile garden apartments, with a fully occupied rent roll and strong rents in place. The residences feature hardwood flooring, decorative fireplaces, oversized windows, abundant natural light, and private rear decks. Additional property amenities include on-site laundry, basement storage, and six rear parking spaces. Owner-reported improvements include two water heaters replaced within the past two years, along with a modernized boiler system equipped with wireless thermostats. An excellent opportunity for investors seeking a multifamily asset with established rental income and additional value potential. Serious inquiries only. Financial qualification, including proof of liquid funds, is required prior to scheduling a showing.
Full Property Details
Full Property Details for 5849 S Michigan Ave
General
- Price: $749,000
- HOA FEE: $2,365
- Taxes: $13,305 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12765767
Location
- Area: CHI - Washington Park
- County: Cook
- Driving Directions: From I-94, take Exit 57B for Garfield Blvd, head east to Michigan Ave, then proceed north to the property
Heating & Cooling
- Cooling Type: None
- Heating Type: Radiators
Utilities
- Trash: 6000
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 3
- Year Built: 1908
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 8
- Units w/Range/Oven: 8
- # Dryers: 1
Lot Features
- Lot Dimensions: 50 x 160
- Potential Use: Multi-Family
- Zoning: MULTI
Financial Considerations
- Maint. Fee: $2,365
- Insurance Fee: $12,000
- Operating Expenses: $18,450
- Assessment Year: 1908
- Tax Amount: $13,305
- Tax Year: 2024
- Tenant Pays: Electricity
- Pays Electric: 450
- Pays Trash: 6000
Disclosures and Reports
- Property ID: 20151210140000
Listed by Keller Williams Preferred Rlty
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Schools
Schools serving 5849 S Michigan Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Carter Elementary School, Chicago, IL 5740 South Michigan Avenue, Chicago, IL 60637 | PK-8 | 0.2 mi |
Phillips Academy High School 244 East Pershing Road, Chicago, IL 60653 | 12-11 | 2.5 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 5849 S Michigan Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$7,409
—
$66,000
89%
2023
$7,409
3%
$35,000
—
2022
$7,221
2%
$35,000
—
2021
$7,059
17%
$35,000
29%
2020
$6,030
-1%
$27,066
-12%
2018
$6,076
-2%
$30,757
—
2019
$6,179
-39%
$30,757
—
2017
$10,148
60%
$30,911
-3%
2016
$6,352
9%
$31,712
—
2015
$5,811
19%
$31,712
21%
2014
$4,875
-3%
$26,275
-5%
2013
$5,039
1%
$27,705
—
2012
$4,972
—
$27,705
—
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 5849 S Michigan Ave
5849 S Michigan Avenue, Chicago, IL 60637 (MLS# 12765767) is a Commercial property. 5849 S Michigan Avenue is currently listed for $749,000 and was received on September 21, 2026. Want to learn more about 5849 S Michigan Avenue? Do you have questions about finding other Commercial real estate for sale in Washington Park? You can browse all Washington Park real estate or contact a Coldwell Banker agent to request more information.

