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Price cut: $50,000
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Two to Four Units · Chicago, IL
$799,000$849,000
8 beds · 4 baths
4040 S Calumet Avenue, Chicago, IL, 60653
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What’s special

Exceptional investment opportunity in the heart of historic Bronzeville. This fully renovated three-unit building at 4040 S. Calumet Ave offers investors a rare turn-key asset with strong income and long-term appreciation potential. The property has undergone a complete rehabilitation in recent years, with significant updates throughout the building. Each unit is currently rented at above-market rents, providing immediate cash flow and stable tenancy for the new owner. The building has been well-maintained and updated, making it an ideal low-maintenance addition to an investment portfolio. With continued development and rising demand in Bronzeville, this property is well-positioned to benefit from long-term neighborhood growth and increasing property values. Located just minutes from downtown Chicago, residents enjoy easy access to public transportation, major expressways, and nearby amenities, including Washington Park, the Lake Michigan lakefront, and the DuSable Black History Museum and Education Center. The property is being sold in as-is condition and represents a rare opportunity to acquire a stabilized multi-unit in one of Chicago's most dynamic and rapidly appreciating neighborhoods.
— the listing agent’s description

The home

8 beds
4 baths
Built in 1893
0.07-acre lot
Two to Four Units

What it’ll cost

$11,292 taxes / yr
No HOA
Listed $849,000
Now $799,000
70 days on dwello

Estimated monthly payment

$5,422/mo
Principal & interest$4,248
Property taxes$941
Homeowners insurance$233
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70 days on dwello
Price history
Price reduced
May 21, 2026
↓ $50,000$799,000
Listed for sale
Mar 13, 2026
$849,000
Now $50,000 below the original list price.
Property taxes
2025
Annual tax bill (MLS)
$11,292/yr
Assessed value
2016
County assessor
$16,804~$168,040 mkt
2015
$16,804~$168,040 mkt
2014
$9,994~$99,940 mkt
2013
$9,994~$99,940 mkt
2012
$9,994~$99,940 mkt
2011
$11,381~$113,810 mkt
2010
$11,381~$113,810 mkt
2009
$11,381~$113,810 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 GasForced AirBrickPublic Sewer

Schools

Elementary — Wells Preparatory Elementary Sch
Middle — Wells Preparatory Elementary Sch
High — Phillips Academy High School
Assigned schools per the listing — always verify enrollment + boundaries 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 Sophie Beaudoin · RE/MAX Top Performers
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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