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$425,000
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Property Description
OWNER-OCCUPANT & INVESTOR VALUE-ADD OPPORTUNITY IN SOUTH SHORE! Not turnkey. Not overdone. Full of potential. This solid all-brick 3-flat offers approximately 3,200 sq ft, 9 bedrooms, 3 baths, separate utilities and a full basement-with an opportunity to create value through cosmetic renovation. Owner-occupants: Live in one unit while renting the other two, with anticipated rental potential of approximately $4,600/month from the two rented units, subject to market conditions and tenant demand. Investors: Three units create multiple income streams with anticipated rents of approximately $2,300 per unit, or $6,900/month when fully rented. The strategy is simple: BUY RENOVATE RENT BUILD EQUITY Financing options may include FHA 203(k), Conventional Rehab, Cash, or Hard Money, subject to lender/investor approval, property eligibility, borrower qualifications and applicable loan terms. Located in South Shore amid significant public and private investment, including INVEST South/West, the Obama Presidential Center, THRIVE Exchange and 71st Street corridor investment. Future impact is not guaranteed, but the level of investment makes this an opportunity worth a closer look. This is where the opportunity begins: bring your vision, improve the property and create the value. Short sale. Sold AS-IS. Subject to lender approval. If you're looking for a property where the upside comes from what YOU do with it, don't let this one pass without running the numbers. Anticipated rents are estimates for illustrative purposes only. Actual rents, expenses, renovation costs and values may vary. Financing is subject to lender approval, borrower qualification, property eligibility and applicable terms. Buyer to independently verify all information and projections.
Full Property Details
Full Property Details for 7544 S Essex Ave
General
- Price: $425,000
- Taxes: $6,469 (2024)
- Status: Active
- Type: Multi-Family
- Source: MRED
- MLS ID: 12724446
- Updated: 9/1/2026
- Added to Site: 63 day(s) ago
Rental Information
- Complex Features: Gated, Sidewalks, Street Lights, Street Paved
Interior
- Basement: Partially
Rooms
Bathrooms
- Total Bathrooms: 3
- Upper - Full Baths: 3
Bedrooms
- Total Bedrooms: 9
Additional Information
- Other Features: Interstate Access
Parking
- Garage: Yes
- Garage Spaces: 3
- Total Spaces: 3
- Parking Features: Yes, Detached, Garage
Location
- Area: CHI - South Shore
- County: Cook
- Township: South Chicago
- Driving Directions: take Stony Island Ave or the Chicago Skyway/Lake Shore Dr south to 75th Street, head east on 75th St to S Yates Blvd, turn south to 75th St/Essex intersection, then turn east onto Essex Ave.
School Information
- School District: 299
- Elem School District: 299
- Midd School District: 299
- High School District: 299
Heating & Cooling
- Heating Type: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Lake Michigan
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement: Yes
- Basement Desc.: Partially Finished, Full
- Year Built: 1927
- Built Before 1978: Yes
Unit Information
- Units in Building: 3
Lot Features
- Lot Size (Acres): 0.08
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 3720 SQ FT
- Zoning: MULTI
Financial Considerations
- Assessment Year: 1927
- Tax Amount: $6,469.26
- Tax Year: 2024
- Pays Sewer: Public Sewer
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: Short Sale
- Property ID: 21303010210000
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Schools
Schools serving 7544 S Essex Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Bradwell Community Arts & Sci Elementary School 7736 South Burnham Avenue, Chicago, IL 60649 | K-8 | 0.4 mi |
South Shore Intl Col Prep High School 1955 East 75th Street, Chicago, IL 60649 | 12- | 0.6 mi |
Chicago Vocational Career Academy High School 2100 East 87th Street, Chicago, IL 60617 | 9-11 | 1.4 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 7544 S Essex Ave
Date
Details
Price
Change
Source
8/17/2026
Price Increased
$425,000
6.52%
MLS
8/04/2026
Listed
$399,000
134.71%
MLS
10/16/2018
Sold
$170,000
—
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 7544 S Essex Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$3,600
—
$32,100
89%
2023
$3,600
3%
$17,000
—
2022
$3,497
2%
$17,000
—
2021
$3,419
-16%
$17,000
-7%
2020
$4,078
-2%
$18,307
-12%
2019
$4,180
2%
$20,804
—
2018
$4,109
-9%
$20,804
-1%
2017
$4,510
7%
$20,949
—
2016
$4,196
9%
$20,949
—
2015
$3,839
1%
$20,949
3%
2014
$3,786
2%
$20,403
—
2013
$3,711
1%
$20,403
—
2012
$3,661
—
$20,403
—
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 7544 S Essex Ave
7544 S Essex Avenue, Chicago, IL 60649 (MLS# 12724446) is a Multi-Family property with 3 units containing 9 bedrooms and 0 full bathrooms. 7544 S Essex Avenue is currently listed for $425,000 and was received on August 04, 2026. Want to learn more about 7544 S Essex Avenue? Do you have questions about finding other Multi-Family 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.

