623 E Groveland Parkway, Chicago, IL
$ 1,525,000
Property Attributes
  • MLS#11997584
  • TypeMulti-Family
  • CountyCOOK
  • CityChicago
  • AreaCHI - Douglas
  • Zip60616
  • Style
  • Year Built1903
  • Taxes$ 13513
  • Price$ 1,525,000
  • Bedrooms3
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.11 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description

This multifamily real estate opportunity is in the Groveland Park neighborhood of Chicago. The subject property of 623 East Groveland Park is located 6.3 miles south of Chicago's downtown Loop area. The property is in an exclusive gated community along the shores of Lake Michigan. The unit mix for this property includes six three-bedrooms / one-bathroom units that measure 1,100-1,200 square feet. The units have open floor plans and are newly renovated with modern finishes. The units feature stainless steel appliances, dark hardwood floors and fresh paint. The building has been well maintained through the current ownership. Recent capital improvements include new plumbing, electric, HVAC, roof and other quality finishes around the property. There is also on-site laundry for additional income for the new owner. Parking and storage are currently included in the rent for the tenants.

Price History
3/6/2024 Listed $1,550,000
4/19/2024 2% - $1,525,000

General Features

Zoning MULTI
Year Built 1903
Tenant Pays Air Conditioning,Electricity,Heat
Stories 3
Tax Year 2022
Gross Income 150000
County Cook
Net Operating Income 103555
Operating Expense 42545
Insurance Expense 2437
Property Type Commercial Sale
MaintenanceExpense 500
Status Active
Directions Located east of MLK between East 33rd Place and East 35th Street or exit Dusable Lakeshore Drive at 31st Street from the north or Oakwood Blvd from the south.
City Chicago
NumberOfUnitsTotal 6
MLS Area CHI - Douglas
Lot Size Square Feet 4960
Tax Annual Amount 13513
Electric Expense 680
Fuel Expense 1150
Trash Expense 1200
Water Sewer Expense 1400
Additional Parcels Y/N No
Days on Market 51
Standard Status Active
Property Type Multi Family 5+

Exterior Features

Lot Dimensions +/- 40 X 124
Lot Size Acres 0.11


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60616

AVG $980K
AVG $11,509
AVG 125
Data Provided by Inside Real Estate®
Year Built
AVG 1893

Your Agent

Fred Nelson

REALTOR® | BROKER | 30+ Years Experience


Listed By
Marcus & Millichap Chicago Apartment Brokers