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$1,200,000
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Property Description
Exceptional investment opportunity in the highly desirable South Shore neighborhood! This well-maintained seven-unit multifamily building offers a strong unit mix consisting of six spacious three-bedroom, one-bath apartments and one one-bedroom, one-bath unit, providing broad tenant appeal and consistent rental demand. Ideally located less than one mile from the New Obama Center, South Shore Cultural Center, public transportation, shopping, restaurants, parks, and other neighborhood amenities. This property is well-positioned for long-term occupancy and appreciation. Approximately half of the units are occupied under subsidized rental programs, providing a stable and reliable income stream, while the remaining market-rate units offer potential for future rental growth. Whether you're looking to expand your portfolio or acquire a solid income-producing asset in a thriving community, this property presents an excellent opportunity. Convenient location, spacious floor plans, and dependable cash flow make this a standout investment in one of Chicago's most established neighborhoods.
Full Property Details
Full Property Details for 6816 S Cornell Ave
General
- Price: $1,200,000
- HOA FEE: $7,800
- Taxes: $8,482 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12700556
- Updated: 7/10/2026
- Added to Site: 7 day(s) ago
Interior
- Basement: Partially
Location
- Area: CHI - South Shore
- County: Cook
- Township: Lake
- Driving Directions: Take stony island to 67th st. east one block to cornell
Heating & Cooling
- Cooling Type: Window Unit(s)
- Heating Type: Forced Air, Gas
Utilities
- Trash: 1700
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement: Yes
- Basement Desc.: Partially Finished, Exterior Entry
- Stories/Levels: 3
- Year Built: 1916
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 7
- Units w/Range/Oven: 7
- # Dryers: 1
Lot Features
- Lot Size (Acres): 0.14
- Lot Dimensions: 45 x 125
- Zoning: COMMR
Financial Considerations
- Maint. Fee: $7,800
- Insurance Fee: $4,900
- Operating Expenses: $30,000
- Assessment Year: 1916
- Tax Amount: $8,482.46
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 6000
- Pays Trash: 1700
Disclosures and Reports
- Documents Avail.: Rent Roll
- Property ID: 20243080130000
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.
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Schools
Schools serving 6816 S Cornell Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Parkside Elementary Community Academy 6938 South East End Avenue, Chicago, IL 60649 | PK-8 | 0.2 mi |
Hyde Park Academy High School 6220 South Stony Island Avenue, Chicago, IL 60637 | 9-12 | 0.8 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 6816 S Cornell Ave
Date
Details
Price
Change
Source
7/08/2026
Listed
$1,200,000
263.64%
MLS
3/11/2016
Sold
$330,000
—
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 6816 S Cornell Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$8,482
—
$68,000
118%
2023
$8,482
5%
$31,264
—
2022
$8,110
-8%
$31,264
-10%
2021
$8,827
13%
$34,851
22%
2020
$7,843
-2%
$28,491
-11%
2019
$8,010
-17%
$32,013
-19%
2018
$9,624
—
$39,369
8%
2017
$9,614
8%
$36,436
—
2016
$8,916
10%
$36,436
—
2015
$8,108
9%
$36,436
9%
2014
$7,467
10%
$33,365
—
2013
$6,801
—
$33,365
—
2012
$6,802
—
$33,365
—
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 6816 S Cornell Ave
6816 S Cornell Avenue, Chicago, IL 60649 (MLS# 12700556) is a Commercial property. 6816 S Cornell Avenue is currently listed for $1,200,000 and was received on July 08, 2026. This property is listed by Ashly Tucker from our Gold Coast Office.Want to learn more about 6816 S Cornell Avenue? Do you have questions about finding other Commercial real estate for sale in South Shore? You can browse all South Shore real estate or contact a Coldwell Banker agent to request more information.


