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$695,000
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Property Description
7056 S Parnell Ave presents an excellent opportunity to acquire a solid 6 unit brick investment property on a corner lot in Chicago's Englewood neighborhood. Located in an opportunity zone, this well maintained building features oversized apartments with highly desirable layouts, including one 4 bedroom/2 bathroom unit, two 3 bedroom/2 bathroom units, one 4 bedroom/1 bathroom unit, and two 3 bedroom/1 bathroom units. Each apartment offers hardwood floors throughout, separate living and dining rooms, spacious kitchens, generous bedroom sizes, and separate utilities for added efficiency and tenant responsibility. The property will be delivered with 4 vacant units, providing immediate value add potential for an owner investor to place tenants at current market rents. The remaining 2 occupied units are currently on month to month leases, creating additional flexibility for future rental adjustments or renovations.
Full Property Details
Full Property Details for 7056 S Parnell Ave
General
- Price: $695,000
- Taxes: $13,963 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12654319
Location
- Area: CHI - Englewood
- County: Cook
- Township: Lake
- Driving Directions: 70TH STREET TO PARNELL SOUTH TO PROPERTY
Heating & Cooling
- Cooling Type: None
- Heating Type: Gas
Utilities
- Trash: 3600
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 3
- Year Built: 1902
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 6
- Units w/Range/Oven: 6
Lot Features
- Lot Dimensions: 5325
- Zoning: MULTI
Financial Considerations
- Insurance Fee: $2,500
- Operating Expenses: $31,163
- Assessment Year: 1902
- Tax Amount: $13,963
- Tax Year: 2024
- Tenant Pays: Varies by Tenant
- Pays Electric: 900
- Pays Trash: 3600
Disclosures and Reports
- Property ID: 20213250190000
Listed by Suite 527 Realty Group, LLC
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Schools
Schools serving 7056 S Parnell Ave
School District:Chicago Public School District 299
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Estimate the Cost
Estimate the Cost for 7056 S Parnell Ave
7056 S Parnell Avenue, Chicago, IL 60621 (MLS# 12654319) is a Commercial property. 7056 S Parnell Avenue is currently listed for $695,000 and was received on May 20, 2026. Want to learn more about 7056 S Parnell Avenue? Do you have questions about finding other Commercial real estate for sale in Englewood? You can browse all Englewood real estate or contact a Coldwell Banker agent to request more information.

