Turnkey SRO Investment Opportunity in Charming Greystone! Discover a long-established Single Room Occupancy (SRO) greystone property, thoughtfully managed by the current owner. Featuring 8 rooms across what appears to be a 2-unit structure with a finished basement, it has served senior tenants with distinction for years. Why this property stands out: High demand: SROs offer affordable housing for community members on tight budgets. Income flexibility: Continue with the existing 8 tenants, or increase revenue by adding a 9th tenant in the basement. Value-adding refresh: Convert legally to a 3-4 unit building, potentially elevating market value to approximately $900K. Spacious lot: The wide parcel provides potential for enhancements, expansion, or additional amenities. Investor, owner-operator, or developer? This greystone offers multiple paths: Keep it as is and sustain immediate rental income. Expand to maximize rental revenue. Reconfigure zoning to residential to appeal to traditional multi-unit buyers. Bottom line: This property delivers income stability, long-term value creation, and structural flexibility-all wrapped in the enduring charm of a classic greystone. Schedule your showing today and explore the possibilities!
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For more information about 6049 S Champlain, Chicago, IL 60637 contact Corcoran Urban Real Estate.
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