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Cecil Sabu

csabu@allure.realestate +1(312) 772-2820

$ 1,175,000

Est. payment -/mo

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6506 S Ellis AVE Chicago, IL 60637

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12554460

Year Built 1930

Annual Tax Amount $16,730

Tax Year 2024

Lot Dimensions 50 X 125

Property Sub-Type Multi Family 5+

Property Description

6506-6508 S. Ellis Avenue is a rarely available six unit multifamily building located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library. Building underwent major renovation in approximately 2012 (Newer framing, newer copper plumbing, newer electrical in all units, individual furnaces and hot water heaters in each unit). Hardwood floors in 5 of the 6 units. There are four (4) 2 bedroom, 1 bath units (located on the second and third floors), and two (2) 4 bedroom, 3 bath units on the first floor that are condo units that UTILIZE THE FIRST FLOOR AND THE LOWER LEVEL! FLOOR PLANS AVAILABLE FROM LISTING AGENT! Each unit has in-unit laundry, a dishwasher, and one (1) parking space per unit in the rear of the building. Units also have their own furnaces and TENANTS responsible for their own heat and electric. Water is not individually metered. Gated access to the building. Fenced-in yard space in the rear. Tenants also have access to a newer balcony in the rear of each unit. Common areas also remodeled. Because this neighborhood is being sought-after, two single family homes directly across the street (6501 & 6503 S. Ellis Avenue) from this building have sold for $739,000!!! And more to come with New Construction being built all around! Much more value to add to this building by stabilizing rents to current market value! Taxes have been reduced drastically thru an appeal process as the building previously had six different PINs. Owner has dissolved the HOA in late 2024 and the assessor will issue a single PIN in 2026. Other six unit buildings that have sold recently with a single PIN have their taxes around 13-14k for the last full tax year. Higher Rents and Less taxes will equal higher income!!! Email listing agent for any questions.

Location

State IL

County Cook

Area Chi - Woodlawn

Zoning MULTI

Interior

Cooling Central Air

Fireplace N

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Listed by John Rolla of HomeSmart Realty Group

SCHOOLSPROPERTIES

Elementary Schools 20

10

Lenart Elementary Regional Gifted Center

Public | PK - 8
10

McDade Elementary Classical School

Public | KG - 6
8

McDowell Elementary School

Public | KG - 5
7

Dixon Elementary School

Public | PK - 8
6

Robinson Elementary School

Public | PK - 3
6

Murray Elementary Language Academy

Public | KG - 8
5

Kershaw Elementary School

Public | PK - 8
5

Hendricks Elementary Community Academy

Public | PK - 8
5

Sherwood Elementary School

Public | PK - 8
5

Beasley Elementary Magnet Academic Center

Public | PK - 8
5

Pirie Fine Arts and Academic Center Elementary School

Public | KG - 6
5

Ariel Elementary Community Academy

Public | PK - 8
5

Ray Elementary School

Public | PK - 8
5

Shoesmith Elementary School

Public | KG - 6
5

Woodlawn Elementary Community School

Public | PK - 6
5

Carnegie Elementary School

Public | PK - 8
5

Harte Elementary School

Public | PK - 8
5

Hoyne Elementary School

Public | KG - 6
4

Coles Elementary Language Academy

Public | KG - 8
3

A. Graham Elementary School

Public | KG - 8

Middle Schools 1

0

Canter Middle School

Public | 8 - 8

High Schools 20

9

King College Preparatory High School

Public | 9 - 12
8

Kenwood Academy High School

Public | 9 - 12
8

South Shore International College Prep High School

Public | 12 - 12
6

Hyde Park Academy High School

Public | 9 - 12
5

Simeon Career Academy High School

Public | 9 - 12
5

Williams Medical Preparatory High School

Public | 9 - 12
4

Urban Preparatory Charter Academy Englewood High School

Public | 9 - 12
3

Bronzeville Scholastic High School

Public | 9 - 12
3

Chicago Vocational Career Academy High School

Public | 9 - 11
2

Team Englewood Community Academy High School

Public | 9 - 12
1

Tilden Career Community Academy High School

Public | 9 - 12
1

Hope College Preparatory High School

Public | 9 - 12
1

Robeson High School

Public | 9 - 12
1

Ace Technical Charter High School

Public | 9 - 12
1

Hirsch Metropolitan High School

Public | 9 - 12
0

Pnuema Institute

Private | 9 - 12
0

Hunter-Bolden Academy

Private | 12 - 12
0

Dyett High School

Public | 12 - 12
0

Hales Franciscan High School

Private | 9 - 12
0

Little Black Pearl Arts Academy High School

Public | 9 - 12

School and business data provided by Attom Data.

Cecil Sabu

Designated Managing Broker & Loan Originator | License ID: 471.019943 | NMLS ID: 2111992

+1(312) 772-2820

Cecil Sabu

6506 S Ellis AVE Chicago, IL 60637

Key Details

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6506 S Ellis AVE