Active

6557 S Minerva Avenue

Chicago IL, 60637

$1,850,000


Active

Commercial

Built in 1903

Courtesy of Kiser Group Realty Inc

6557 S. Minerva is a rarely available ten (10) unit walkup located just outside of Hyde Park in Chicago's East Woodlawn neighborhood. The property is located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library, 6557 S. Minerva is comprised of five (5) 2Bd/2Ba, four (4) 3Bd/2Ba, and one (1) 3Bd/3Ba units. During a complete gut rehab in 2004, all four (4) first floor units were duplexed down and the building was deconverted from twelve (12) to ten (10) units to create two (2) penthouse apartments by consolidating the third floor units in both tiers. All units feature incredibly spacious layouts with updated kitchens and baths. Throughout the years, the building has undergone extensive renovations consisting of, but not limited to: 100% copper plumbing, new electric service w/ in-unit breaker boxes, individual furnaces & hot water tanks, in-unit washer and dryers, and an abundance of cosmetic updates. 6557 S. Minerva presents an investor with the opportunity to acquire a rarely available and highly desirable building in one of Chicago's best neighborhoods. From day one, a new owner will benefit from an incredibly stable and long-term tenant base. However, with most of the building's current rents being substantially below current market levels-there is a tremendous amount of value to be added solely by stabilizing rents to levels already being achieved in the building.

11999099

MLS ID

March 7, 2024

Listed

July 13, 2024

Updated

Map

6557 S Minerva Avenue
Chicago IL, 60637

Other Property Details

Area Name

CHI - Woodlawn


Taxes

$16,043


Tax Frequency

Annually


Days on Market

17


Garage

No


View

No


County

Cook


Pool

No

Courtesy of Kiser Group Realty Inc, Aaron Sklar,
Listing Contact: 773-293-5000 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Vergis H. Eiland III are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 7/13/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 6:55 PM UTC, 7/13/2024

 

 

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