7751 S Phillips AVE, Chicago, IL 60649
7751 S Phillips AVE, Chicago, IL 60649
7751 S Phillips AVE, Chicago, IL 60649
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$400,000
Est. payment /mo
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7 Beds
4 Baths
Price Dropped by $15K

7751 S Phillips AVE Chicago, IL 60649

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John Barnak III

John Barnak III

+1(630) 439-6385

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12560835

Bedrooms 7

Year Built 1923

Annual Tax Amount $3,388

Tax Year 2023

Lot Dimensions 25x125

Property Sub-Type Two to Four Units

Property Description

Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.

Location

State IL

County Cook

Area Chi - South Shore

Rooms

Basement Unfinished, Full, Walk-Out Access

Interior

Heating Radiant, Radiator(s)

Fireplace N

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer

Water Lake Michigan

Structure Type Brick

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Jason Marsing of  Fulton Grace Realty 

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John Barnak III

John Barnak III

Broker License ID: 471019889

+1(630) 439-6385

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7751 S Phillips AVE

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