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$615,000
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Property Description
Don't miss this incredible fully leased investment opportunity! This hard to find 7 unit building is over an 8 cap at the list price. No deferred maintenance and below market rents combine to create tremendous value add potential. With seven total units rent increases to market value and further increases over time will have an exponential effect on value. All of the apartments are desirable 2 bedroom units with a spacious family room. Coin op laundry and storage are available in the basement. One apartment has just been updated with quartz counter tops, new appliances and bathroom fixtures (rented immediately!). Other updates include new windows, new appliances, new exterior lighting and the fire safety system has been updated. New 10 year smoke and CO detectors were just installed. Low to no vacancy history. Restaurants, national retailers and the Jewel grocery store are all within walking distance make renting apartments a breeze. There are 7 onsite parking spaces and unrestricted on street parking. Don't wait, opportunities like this don't come often!
Full Property Details
Full Property Details for 3229 Commercial Ave
General
- Sold For: $615,000
- Taxes: $9,910 (2023)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12513857
- Added to Site: 134 day(s) ago
Location
- Area: South Chicago Heights
- County: Cook
- Driving Directions: Chicago Road to Sauk Trail East 1 Block to Commercial Avenue South to Building
Heating & Cooling
- Heating Type: Hot Water
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement Desc.: Unfinished
- Stories/Levels: 3
- Year Built: 1969
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 7
- Units w/Range/Oven: 7
- # Dryers: 2
Lot Features
- Lot Dimensions: 50 x 125
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $29,407
- Assessment Year: 1969
- Tax Amount: $9,910
- Tax Year: 2023
Disclosures and Reports
- Property ID: 32322150190000
Listed by Coldwell Banker Real Estate Group
Sold by Listing Leaders Northwest
Get Pre-Approved Today
Schools
Schools serving 3229 Commercial Ave
School Districts:Steger School District 194, Bloom Township High School District 206
| Name | Grades | Distance |
|---|---|---|
Steger Primary Center 3411 Miller Avenue, South Chicago Heights, IL 60411 | PK-1 | 0.3 mi |
Steger Intermediate Center 3411 Hopkins Street, Steger, IL 60475 | 2-4 | 0.9 mi |
Columbia Central School 94 West Richton Road, Steger, IL 60475 | 5-8 | 1.4 mi |
Bloom Trail High School 22331 Cottage Grove Avenue, Chicago Heights, IL 60411 | 9-12 | 2.3 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 3229 Commercial Ave
Date
Details
Price
Change
Source
3/18/2026
Sold
$615,000
-20.65%
MLS
11/09/2025
Listed
$775,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
3229 Commercial Avenue, South Chicago Heights, IL 60411 (MLS# 12513857) is a Commercial property that was sold at $615,000 on March 18, 2026. Want to learn more about 3229 Commercial Avenue? Do you have questions about finding other Commercial real estate for sale in South Chicago Heights? You can browse all South Chicago Heights real estate or contact a Coldwell Banker agent to request more information.

