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Price cut: $39,900
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Two to Four Units · Chicago, IL
$400,000$439,900
6 beds · 2 baths
7227 S Michigan Avenue, Chicago, IL, 60619
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What’s special

Turnkey Investment Opportunity - Fully Updated 2-Unit Building in Chatham/Park Manor Welcome to 7227 Michigan Ave-an exceptional opportunity to own a newly updated, income-producing building in the sought-after Chatham/Park Manor neighborhood. This well-maintained property features three spacious 3-bedroom, 1-bathroom apartments, making it ideal for investors seeking strong rental income or owner-occupants looking to live in one unit while generating revenue from the others. Each unit has been recently renovated with modern finishes, including beautiful hardwood floors throughout and updated kitchens with sleek granite countertops. The thoughtful upgrades and solid layout appeal to today's renters, helping ensure consistent occupancy and long-term value. The property also offers on-site laundry facilities (pay laundry), providing an additional income stream and added convenience for tenants. Investment Highlights: 3-unit residential building Each unit: 3 bedrooms, 1 bathroom Recently renovated interiors Hardwood flooring throughout all units Updated kitchens with granite countertops Strong rental demand in established neighborhood On-site coin/pay laundry for additional income Location Advantages: Ideally situated near Deneen Elementary School, Aldi, and L&P Foods, the property is perfectly positioned for tenant convenience. Excellent access to public transportation-including the Red Line and #3 bus route-as well as nearby expressways, makes commuting throughout the city simple and efficient. Additional Notes: Strong rental area with consistent demand Ideal for both seasoned investors and first-time buyers Whether you're expanding your portfolio or entering the investment market, 7227 Michigan Ave offers a compelling combination of location, updates, and income potential. Don't miss this opportunity to acquire a stabilized, income-generating asset in a growing neighborhood-schedule your showing today!
— the listing agent’s description

The home

6 beds
2 baths
Built in 1916
Lot 4800
Two to Four Units

What it’ll cost

$3,376 taxes / yr
No HOA
Listed $439,900
Now $400,000
63 days on dwello

Estimated monthly payment

$2,525/mo
Principal & interest$2,127
Property taxes$281
Homeowners insurance$117
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Jun 3
THU
Jun 4
FRI
Jun 5
SAT
Jun 6
11:00 am
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63 days on dwello
Price history
Price reduced
May 21, 2026
↓ $39,900$400,000
Listed for sale
Mar 20, 2026
$439,900
Now $39,900 below the original list price.
Property taxes
2025
Annual tax bill (MLS)
$3,376/yr
Assessed value
2025
County assessor
$19,062~$190,620 mkt
2024
$22,300~$223,000 mkt
2023
$16,000~$160,000 mkt
2022
$16,000~$160,000 mkt
2021
$16,000~$160,000 mkt
2020
$14,850~$148,500 mkt
2019
$16,875~$168,750 mkt
2018
$18,231~$182,310 mkt
Assessed value from the Cook County Assessor (open records). Estimated market ≈ assessed × 10 for residential; not an appraisal — verify with the assessor.

Features

Natural GasBrickPublic Sewer

Schools nearby

Deneen Elementary School · 0.1 mi
Chicago Academy · 0.2 mi
Saint Columbanus School · 0.2 mi
Shiloh Academy · 0.3 mi
Saint Carthage School · 0.5 mi
This listing didn’t include assigned schools, so these are the closest schools (OpenStreetMap) — not necessarily the attendance-zoned schools. Confirm assignment with the district.
Neighborhood
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Nearby places via OpenStreetMap — approximate; verify what matters to you. Map © Mapbox © OpenStreetMap.
MLS listing dataMRED
Listed by Colleen Berg · Berg Properties
Listing last updated May 21, 2026 · data refreshed from the MLS Jun 17, 2026, 6:19 PM CT
Based on information submitted to the MLS GRID as of Jun 17, 2026, 6:19 PM CT. Listing data © MRED LLC, distributed by MLS GRID — deemed reliable but not guaranteed; independently verify. Anything shown below this point is not MLS listing data.
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