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$1,188,000
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Property Description
Turnkey multi-family investment opportunity in a rapidly appreciating Woodlawn location! This professionally managed six-unit building, constructed in 2007, offers exceptional cash flow from day one and significant equity growth potential. The property is designed for the savvy investor seeking a low-maintenance, stable asset with high-end appeal. Investment Highlights: Strong Cash Flow, Current annual income exceeds $123,000. Tenant-paid heat and all utilities, further enhancing operating income. Optimal Unit Mix, Features a highly desirable mix of 3 spacious 2-bed/2-bath units and 3 oversized 3-bed/2-bath units, ensuring high rental demand. High-End Finishes & Amenities, All units boast condo-quality finishes, including granite countertops, dishwashers, and in-unit laundry. Each unit is also equipped with Central AC and tenant paid and controlled HVAC, attracting and retaining quality tenants. Low Maintenance, Built in 2007, this newer construction property offers the reliability and reduced maintenance costs that landlords seek. Equity Growth: Positioned in the heart of the Woodlawn community, this asset is poised for remarkable appreciation as ongoing redevelopment continues to transform the neighborhood. Strategic Location: The property benefits from an A+ location with constant tenant demand. It is strategically located near: The Obama Presidential Center, University of Chicago and Hospital, Jackson Park harbor & golf course, Lakefront beaches and recreational trails, convenient public transportation, including the Green Line train and Metra Electric. This property provides a simple and secure entry into the lucrative multi-family market, offering tenants a beautiful place to live and landlords a stable, profitable, and appreciating asset. Don't miss this opportunity to acquire a cash-flowing investment that is positioned for long-term growth.
Full Property Details
Full Property Details for 6646 S Greenwood Ave
General
- Sold For: $1,188,000
- Taxes: $13,604 (2023)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12458728
- Added to Site: 141 day(s) ago
Location
- Area: CHI - Woodlawn
- County: Cook
- Driving Directions: Marquette to Greenwood, South to 6646. East Of Cottage Grove.
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas, Individual Furnaces
Utilities
- Water: Municipal Water
Structural Information
- Construction: Brick, Block
- Exterior Const.: Brick, Block
- Stories/Levels: 3
- Square Feet: 7,378
- Year Built: 2008
Lot Features
- Lot Dimensions: 50 x 125
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $44,914
- Assessment Year: 2008
- Tax Amount: $13,604
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Electricity, Heat
Disclosures and Reports
- Property ID: 20231240200000
Listed by Exit Strategy Realty / EMA Management
Sold by Chicago Style
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Schools
Schools serving 6646 S Greenwood Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Wadsworth PreK-8th STEM School 6650 South Ellis Avenue, Chicago, IL 60637 | PK-8 | 0.1 mi |
Hyde Park Academy High School 6220 South Stony Island Avenue, Chicago, IL 60637 | 9-12 | 0.9 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 6646 S Greenwood Ave
Date
Details
Price
Change
Source
11/18/2025
Sold
$1,188,000
-6.09%
MLS
8/29/2025
Listed
$1,265,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
6646 S Greenwood Avenue, Chicago, IL 60637 (MLS# 12458728) is a Commercial property that was sold at $1,188,000 on November 18, 2025. Want to learn more about 6646 S Greenwood Avenue? Do you have questions about finding other Commercial real estate for sale in Woodlawn? You can browse all Woodlawn real estate or contact a Coldwell Banker agent to request more information.

