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$339,900 Contingent

  • For Sale
  • Contingent
  • Multi-Family
  • 4 Total Beds
See This Home
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Well-maintained all-brick two-flat in a prime Summit location just off Archer Avenue, priced to move and full of upside. Zoned R-4 with B-2 overlay potential, this is a rare opportunity to own a flexible property in a high-demand pocket-ideal for investors or live-in owners. Each unit offers 2 bedrooms, 1 bathroom, a four-season front room, updated kitchens with stainless steel appliances and dishwashers, and separate private laundry. The building has been thoughtfully upgraded with copper plumbing, separate forced-air heating with central air, and tenants pay all utilities except water. The upper unit is leased through 2026, but the tenant is open to early move-out for an owner-occupant buyer. The lower unit is vacant and ready to go, perfect for immediate occupancy or rental. Off-street parking available through the Village of Summit with permit. Whether you're looking to generate immediate income, house hack, or convert to a hybrid commercial use-this one checks all the boxes. Property is being sold AS-IS. Bring your vision, and act quickly-opportunities like this don't last.

Full Property Details for 7318 W Archer Ave

General

  • Price: $339,900
  • Taxes: $8,256 (2023)
  • Status: Contingent
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12398404
  • Updated: 2/6/2026
  • Added to Site: 237 day(s) ago

Rental Information

  • Complex Features: Sidewalks, Street Lights, Street Paved

Interior

  • Basement: None

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Upper - Full Baths: 2
  • Bathroom Features: Separate Shower

Bedrooms

  • Total Bedrooms: 4

Additional Information

  • Other Features: School Bus Service, Commuter Bus, Interstate Access

Exterior

  • Exterior Features: Lighting

Parking

  • Total Spaces: 8
  • Parking Features: Off-Street, Yes, Other

Location

  • Area: Summit
  • County: Cook
  • Township: Lyons
  • Driving Directions: Archer Ave. East or West to 73rd Ct., North to building. Sits on rear of lot

School Information

  • School District: 104
  • Elem School District: 104
  • Midd School District: 104
  • High School District: 217
  • High School: Argo Community High School
  • Private School: Argo Community High School

Heating & Cooling

  • Heating Type: Natural Gas, Forced Air, Baseboard

Utilities

  • Sewer: Public Sewer
  • Water: Lake Michigan
  • Onsite: Cable Available

Structural Information

  • Construction: Vinyl Siding, Brick
  • Exterior Const.: Vinyl Siding, Brick
  • Basement Desc.: None
  • Year Built: 1923
  • Built Before 1978: Yes
  • Remodeled/Updated: 2024

Unit Information

  • Units in Building: 2

Lot Features

  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 29.9 x 125.5 x 29.9 x 125.6
  • Fence: Yes
  • Lot Features: Corner Lot, Landscaped
  • Fencing (Description): Fenced, Chain Link

Financial Considerations

  • Assessment Year: 1923
  • Tax Amount: $8,256
  • Tax Year: 2023
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Special Conditions: List Broker Must Accompany
  • Property ID: 18124170220000

Listed by Compass

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— 7318 W Archer Ave —

  • Compass

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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 7318 W Archer Ave

School Districts:Summit School District 104, Argo Community High School District 217
NameGradesDistance
Walsh Elementary School, Summit, IL
5640 75th Avenue, Summit, IL 60501
PK-40.3 mi
Dr Donald Wharton Elementary School
7555 64th Street, Summit, IL 60501
5-1.2 mi
W W Walker Elementary School
7735 66th Place, Bedford Park, IL 60501
K-41.5 mi
Heritage Middle School, Summit, IL
6021 South 74th Avenue, Summit, IL 60501
6-80.6 mi
Argo Community High School
7329 West 63rd Street, Summit, IL 60501
9-121 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 7318 W Archer Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/27/2025
Price Reduced
$339,900
-2.85%
MLS
7/06/2025
Listed
$349,880
74.94%
MLS
12/23/2020
Sold
$200,000
—
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 7318 W Archer Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$8,256
3%
$23,564
27%
2022
$8,030
-3%
$18,612
-5%
2021
$8,252
286%
$19,654
—
2020
$2,136
-15%
$19,654
4%
2019
$2,526
3%
$18,940
—
2018
$2,447
2%
$18,940
—
2017
$2,401
-35%
$18,940
39%
2016
$3,710
-2%
$13,594
—
2015
$3,777
15%
$13,594
—
2014
$3,295
-1%
$13,594
-15%
2013
$3,327
1%
$15,912
—
2012
$3,286
—
$15,912
—
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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7318 W Archer Avenue, Summit, IL 60501 (MLS# 12398404) is a Multi-Family property with 2 units containing 4 bedrooms and 0 full bathrooms. 7318 W Archer Avenue is currently listed for $339,900 and was received on July 06, 2025. Want to learn more about 7318 W Archer Avenue? Do you have questions about finding other Multi-Family real estate for sale in Summit? You can browse all Summit real estate or contact a Coldwell Banker agent to request more information.

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