Turn-key 4-unit with major capital improvements, immediate rental income, and room to grow in one of Chicago's steadily appreciating neighborhoods. Three units were remodeled in 2024 and are currently leased, providing immediate rental income. The fourth unit was fully upgraded in 2026 with higher-end finishes, setting a strong rental standard for the property and future income growth. Major capital improvements include new electrical, plumbing, HVAC (2024) and a new roof (2024)-reducing near-term maintenance costs. A brand-new on-site laundry room with washer and dryer(2025) adds tenant convenience and additional income potential. There may also be potential to add a garden unit or a duplexed unit, creating another opportunity to increase unit count and/or more cash flow. The property is fully fenced and the owner currently maintains the adjacent vacant lot, which may offer future possibilities for expansion or development (buyer to verify). Adding to its character, the building was featured in a Spike Lee film, giving the property a unique piece of Chicago film history. Conveniently located ~15 minutes from downtown, ~10 minutes from Sox Stadium, and ~5 minutes from I-90/94.
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For more information about 6331 S Elizabeth, Chicago, IL 60636 contact Corcoran Urban Real Estate.
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