7408 W 58th Street, Summit, IL 60501 - Photo 1

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$799,000 Just Listed

For Sale
Active
Commercial
Updated 4 hours ago

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Property Description

An exceptional turn-key cash flow opportunity awaits at 7408 W 58th St, a fully tenant-occupied, well-maintained 6-unit brick building designed for high-yield portfolio growth. Offering immediate, stabilized income from long-term tenants, this property features a highly desirable unit mix of four spacious 2-bedroom, 1-bathroom units and two efficient 1-bedroom, 1-bathroom units. Capital improvements include a roof replaced roughly six years ago, while value-add amenities like 5 exterior parking spaces, private tenant storage lockers, and an on-site coin-operated laundry facility drive extra passive revenue. Superbly managed and ideally situated near I-55 for effortless commutes into Chicago and surrounding suburbs, this rock-solid investment is a seamless plug-and-play addition to any portfolio.

Full Property Details

Full Property Details for 7408 W 58th St

General

Price: $799,000
Taxes: $14,335 (2025)
Status: Active
Type: Commercial
Source: MRED
MLS ID: 12750215
Updated: 9/14/2026
Added to Site: 6 day(s) ago

Additional Information

Security/Safety: Fire Extinguisher(s), Carbon Monoxide Detector(s)

Location

Area: Summit
County: Cook
Township: Lyons
Driving Directions: Head south on Harlem Ave to 58th St. Turn right (west) on 58th St to address; property is on the south side of the street.

Heating & Cooling

Cooling Type: Window Unit(s)
Heating Type: Baseboard

Utilities

Trash: 865

Structural Information

Construction: Brick
Exterior Const.: Brick
Foundation: Concrete Perimeter
Roof: Composition
Stories/Levels: 2
Current Bldg. Use: Multi-Family
Year Built: 1966
Built Before 1978: Yes

Unit Information

Units w/Refrigerators: 6
Units w/Range/Oven: 6
# Dryers: 1

Lot Features

Lot Dimensions: 43 x 125
Zoning: MULTI

Financial Considerations

Insurance Fee: $3,700
Operating Expenses: $27,926
Security Deposit: Fire Extinguisher/s, Carbon Monoxide Detector(s)
Assessment Year: 1966
Tax Amount: $14,335.2
Tax Year: 2025
Tenant Pays: Electricity
Pays Electric: 570
Pays Trash: 865

Disclosures and Reports

Property ID: 18132200570000

Listed by Baird & Warner

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Schools

Schools serving 7408 W 58th St

School Districts:Summit School District 104, Argo Community High School District 217

Name	Grades	Distance
Walsh Elementary School, Summit, IL 5640 75th Avenue, Summit, IL 60501	PK-4	0.2 mi
Otis P Graves Elementary School 6021 South 74th Avenue, Summit, IL 60501	PK-4	0.3 mi
W W Walker Elementary School 7735 66th Place, Bedford Park, IL 60501	K-4	1.2 mi
Heritage Middle School, Summit, IL 6021 South 74th Avenue, Summit, IL 60501	6-8	0.3 mi
Argo Community High School 7329 West 63rd Street, Summit, IL 60501	9-12	0.7 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 7408 W 58th St Get Price Alerts and Save Property

Date

Details

Price

Change

Source

9/08/2026

Listed

$799,000

136.39%

MLS

3/15/2002

Sold

$338,000

—

Public Record

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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 7408 W 58th St

Year

Property Taxes

Change

Tax Assessment

Change

2023

$12,963

—

$37,000

—

2023

$12,963

-4%

$36,999

18%

2022

$13,530

$31,359

—

2021

$13,167

-22%

$31,359

-20%

2020

$16,852

17%

$39,202

25%

2019

$14,443

16%

$31,415

—

2018

$12,440

-15%

$31,415

-13%

2017

$14,597

63%

$36,251

91%

2016

$8,947

$18,944

—

2015

$8,671

$18,944

—

2014

$8,486

$18,944

-6%

2013

$8,076

-4%

$20,078

—

2012

$8,407

—

$20,078

—

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.

Estimate the Cost

Estimate the Cost for 7408 W 58th St

7408 W 58th Street, Summit, IL 60501 (MLS# 12750215) is a Commercial property. 7408 W 58th Street is currently listed for $799,000 and was received on September 08, 2026. Want to learn more about 7408 W 58th Street? Do you have questions about finding other Commercial 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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7408 W 58th St Summit, IL 60501