6640 S Wolcott Avenue Chicago, IL 60636 • Multi Unit - Multiple • New $149,900

Description

AS-IS. WHERE-IS. | This solid brick multi-family located at 6640 S. Wolcott Avenue in the Englewood community is officially on the market and awaiting a new owner ready to add value and unlock its full potential. The property is being sold strictly as-is, where-is, inclusive of any existing municipal violations, code compliance matters, and any pending requirements. | Buyer to assume responsibility for any violations and to perform their own due diligence regarding condition, zoning, and compliance status. | Due to the current condition of the property, a cash buyer is strongly preferred and would be optimal for a smooth transaction. | Current rents total approximately $1,300 per month between the Garden Unit ($425) and 1st Floor Unit ($850). With the vacant 2-bedroom unit on the 2nd floor, there is future opportunity to increase income by at least $1,250 per month, with additional upside through value-add improvements. Each level offers 2 bedrooms and 1 bath, along with separate living room, dining room, and eat-in kitchen layouts that support strong rental appeal. The basement presents potential for tenant storage and common laundry to enhance income. The rear of the property includes an existing garage slab that could be repurposed into fenced, off-street parking for additional monthly revenue. Buyers should also explore the potential for ADU (Accessory Dwelling Unit) opportunities, subject to zoning, city approval, and compliance requirements, which could further maximize long-term cash flow. | Seller makes no representation as to the legality of the garden unit. An injunction affecting the property is referenced in the additional information section of the listing and must be reviewed by prospective buyers as part of their due diligence.

Property Highlights