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$1,150,000

  • For Sale
  • Active
  • Commercial
  • Updated 5 days ago
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7001 S Vernon is a South Side Chicago multifamily asset positioned as a value-add rental opportunity. Very well-maintained brick building with many recent updates done, including new boiler; lintel and brick replacement; roof replacement/repairs and unit updates. The building has 13 existing apartment units, including one vacant garden unit, plus a 14th garden unit, subject to buyer verification of zoning, code, life safety, egress and permitting requirements. 2-car garage can be also rented. It is used for storage now.

Full Property Details for 7001 S Vernon Ave

General

  • Price: $1,150,000
  • HOA FEE: $3,400
  • Taxes: $13,777 (2023)
  • Status: Active
  • Type: Commercial
  • Source: MRED
  • MLS ID: 12681072
  • Updated: 6/25/2026
  • Added to Site: 18 day(s) ago

Location

  • Area: CHI - Greater Grand Crossing
  • County: Cook
  • Township: Hyde Park
  • Driving Directions: 71ST TO VERNON, NORTH TO ADD

Heating & Cooling

  • Heating Type: Central Building Heat, Forced Air

Utilities

  • Trash: 2553

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Stories/Levels: 3
  • Year Built: 1916
  • Built Before 1978: Yes

Unit Information

  • Units w/Refrigerators: 14
  • Units w/Range/Oven: 14

Lot Features

  • Lot Size (Acres): 0.18
  • Lot Dimensions: 66 x 124
  • Zoning: COMMR

Financial Considerations

  • Maint. Fee: $3,400
  • Insurance Fee: $9,577
  • Operating Expenses: $57,626
  • Other Fee: $5,649
  • Assessment Year: 1916
  • Tax Amount: $13,777
  • Tax Year: 2023
  • Tenant Pays: None
  • Pays Electric: 5218
  • Pays Trash: 2553

Disclosures and Reports

  • Property ID: 20224200010000

Listed by IPM Realty, Inc.

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— 7001 S Vernon Ave —

  • IPM Realty, Inc.

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NMLS#: 1598647

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NMLS#: 1598647

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

Schools serving 7001 S Vernon Ave

School District:Chicago Public School District 299
NameGradesDistance
Park Manor Elementary School
7037 South Rhodes Avenue, Chicago, IL 60637
PK-80.1 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 7001 S Vernon Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
6/19/2026
Listed
$1,150,000
303.51%
MLS
12/30/2013
Sold
$285,000
—
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 7001 S Vernon Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$13,777
—
$81,200
24%
2023
$13,777
3%
$65,299
—
2022
$13,431
2%
$65,299
—
2021
$13,131
-8%
$65,299
2%
2020
$14,256
11%
$63,994
—
2019
$12,857
2%
$63,994
—
2018
$12,641
-4%
$63,994
5%
2017
$13,179
7%
$61,223
—
2016
$12,262
9%
$61,223
—
2015
$11,219
35%
$61,223
36%
2014
$8,323
2%
$44,857
—
2013
$8,158
1%
$44,857
—
2012
$8,049
—
$44,857
—
View All
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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Listed by IPM Realty, Inc.

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7001 S Vernon Avenue, Chicago, IL 60637 (MLS# 12681072) is a Commercial property. 7001 S Vernon Avenue is currently listed for $1,150,000 and was received on June 19, 2026. Want to learn more about 7001 S Vernon Avenue? Do you have questions about finding other Commercial real estate for sale in Greater Grand Crossing? You can browse all Greater Grand Crossing real estate or contact a Coldwell Banker agent to request more information.

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