Multifamily Property for Sale in Chicago, IL

  • Price: $500K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chicago, IL 60637
  • Size: 13,283 SF
  • Year built: 1913

Description

Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is pleased to present 1471 E 67th St, Chicago, IL 60637 —a vacant mixed-use retail and residential asset being offered for redevelopment/land value . The property is fully vacant and currently configured with 7 commercial units , 12 studio apartments , and 4 one-bedroom apartments . The retail and residential portions require a full renovation , creating a clear value-add path to reposition the building and restore the apartments as income-producing units. Neighborhood Overview: South Shore & East Woodlawn South Shore—bordering the fast-evolving East Woodlawn corridor—has become a key target for South Side reinvestment due to its lakefront proximity, strong neighborhood identity, and accelerating development pipeline. Proximity to Major Developments: Located near Jackson Park and the Obama Presidential Center , positioning the site to benefit from increased foot traffic, visibility, and long-term economic lift. Mixed-Use Upside: B3-3 zoning supports community shopping districts and encourages a blend of commercial and residential uses , ideal for developers pursuing modern mixed-use concepts. Rising Investment Momentum: The submarket is seeing increased public and private investment, strengthening the long-term fundamentals for redevelopment plays. Positive Economic Indicators for South Shore Development Activity: Continued neighborhood investment and nearby catalytic projects are expected to support value growth and future demand for both housing and neighborhood-serving retail. Transit Connectivity: Excellent access via the South Shore Metra line and multiple CTA bus routes , providing efficient connections to downtown and major employment nodes. Residential Demand Tailwinds: Growing interest from professionals and families is increasing demand for quality housing—supporting mixed-use projects that integrate retail, services, and residential living. Building SF: 13283 | Land Size: 6900.

Market Context

This multifamily in Chicago, IL is listed for sale at $500,000 across 13,283 SF. The building dates to 1913. It has been on the market for 38 days. Compare it against other multifamily listings for sale in Chicago, IL — <a href="/search/sale/multifamily/illinois/chicago">view the full market</a>.

As of Q1 2026, the Chicago multifamily market showed rents up 9.3% year over year, and cap rates around 4.9%. Source: Consensus Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Chicago?
About 4.9% as of Q1 2026, per Consensus.

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