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$374,750
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Property Description
Rare Investment Opportunity in Chatham - 9-Unit Multifamily Building Discover a unique investment in one of the most desirable neighborhoods of Chatham with this 3-story multifamily building featuring a mix of occupied units. This property includes five 1-bedroom and four 2-bedroom units, combining comfort with potential high returns. Property Highlights: Total Units: 9 Unit Mix: 5 one-bedroom units, 4 two-bedroom units Occupancy: almost fully occupied with a combination of lease and month-to-month arrangements. Building Condition: Requires renovations; an excellent opportunity to add value. Investment Potential: Situated in the highly sought-after Chatham area, known for its strong rental demand. Potential to increase rental income through property enhancements and lease adjustments. Located in a vibrant community with easy access to local amenities, parks, and public transportation. Close proximity to shopping, dining, and entertainment options. This property is ideal for: Investors looking to expand their portfolio with a property that offers both immediate cash flow and significant upside potential through renovations. Take advantage of this opportunity to own a multifamily building in Chatham with solid bones and great potential. Whether you're looking to refurbish and revitalize or hold as a steady income source, this property promises to be a worthwhile addition to any real estate investment portfolio. Property is sold AS-IS
Full Property Details
Full Property Details for 7956 S Rhodes Ave
General
- Sold For: $374,750
- Taxes: $5,042 (2023)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12321646
- Added to Site: 292 day(s) ago
Location
- Area: CHI - Chatham
- County: Cook
- Driving Directions: From I-90 E/I94E to 79th Street. East onto 79th Street to South Rhodes Ave. South onto Rhodes Ave to Address
Heating & Cooling
- Cooling Type: None
- Heating Type: Radiant
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Stories/Levels: 3
- Year Built: 1926
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 9
- Units w/Range/Oven: 9
Lot Features
- Lot Dimensions: 5722
Financial Considerations
- Operating Expenses: $23,394
- Assessment Year: 1926
- Tax Amount: $5,042
- Tax Year: 2023
- Tenant Pays: Electricity
Disclosures and Reports
- Property ID: 20342020280000
Listed by EXIT Strategy Realty
Sold by Charles Rutenberg Realty
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Schools
Schools serving 7956 S Rhodes Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Dixon Elementary School, Chicago, IL 8306 South Saint Lawrence Avenue, Chicago, IL 60619 | 7-8 | 0.4 mi |
Hirsch Metropolitan High School 7740 South Ingleside Avenue, Chicago, IL 60619 | 9-12 | 0.6 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 7956 S Rhodes Ave
Date
Details
Price
Change
Source
9/18/2025
Sold
$374,750
-6.31%
MLS
4/28/2025
Price Reduced
$400,000
-20%
MLS
3/31/2025
Listed
$500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
7956 S Rhodes Avenue, Chicago, IL 60619 (MLS# 12321646) is a Commercial property that was sold at $374,750 on September 18, 2025. Want to learn more about 7956 S Rhodes Avenue? Do you have questions about finding other Commercial real estate for sale in Chatham? You can browse all Chatham real estate or contact a Coldwell Banker agent to request more information.

