6351 S Drexel Ave, Chicago, IL
5 bd · 2 ba · 0 sqft Multi-Family listed at $299,000 in the Woodlawn neighborhood.
About this home
Highest and Best DUE Monday, January 19th, 2025 at Noon. Exciting Investment Opportunity in Woodlawn | 2-Flat Brick Building Located on the east side of Cottage Grove in the heart of Woodlawn, this classic 2-flat brick building presents an exceptional opportunity for investors, developers, or owner-occupants ready to bring a vision to life. The property is in need of a full gut renovation, making it a true blank canvas with tremendous upside in a rapidly improving area. The second-floor unit offers a generous layout featuring four bedrooms, a spacious living room, a separate dining room, a full-size bathroom, and a kitchen with a pantry. Original hardwood floors are in place and ready for restoration, and select electrical upgrades have already been completed. A skylight above the second-floor staircase floods the interior with natural light, adding character and architectural charm. The first-floor unit includes two bedrooms, one full bath, and a large kitchen, offering flexible living arrangements or strong rental potential. The full-height basement features approximately 7-foot ceilings with ingress and egress, making it ideal for an impressive in-law suite, duplex-down, or additional living space. The building will require a new roof and rear porch, allowing the next owner to design and build to modern standards With its solid brick construction, generous room sizes, and endless configuration possibilities, this property is perfectly positioned for a value-add renovation. Whether you envision a duplex-down, an owner's unit with rental income, or a fully rehabbed income-producing asset, the potential here is truly limitless.
Property details
- Price
- $299,000
- Bedrooms
- 5
- Bathrooms
- 2
- Type
- Multi-Family
- Days on market
- 110
- Est. property tax
- $6,219/yr · $518/mo · 2.08% IL avg
Estimated monthly payment
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Location
This home is located in Chicago, IL. Browse more Chicago listings on the Chicago market page or explore the full Chicago market report.
About Chicago: Chicago is the most populous city in the U.S. state of Illinois and in the Midwestern United States. Located on the western shore of Lake Michigan, it is the third-most populous city in the United States, with a population of 2.74 million at the 2020 census. The Chicago metropolitan area has 9.41 million residents and is the third-largest metropolitan area in the country. Chicago is the seat of Cook County, the second-most populous county in the U.S. (source: Wikipedia)
Climate: Average year-round temperature is 51°F with 211 dry days per year and 39.9 inches of annual rainfall.
Home Intelligence
Neighborhood (zip 60637)
This neighborhood skews young (median age 31.2) and is primarily renter-occupied (26% owner-occupied). 14% hold a bachelor's degree; median household income is $37,247.
- Median income
- $37,247
- Median age
- 31.2
- Owner-occupied
- 25.7%
- Bachelor's degree
- 14.4%
- Census median home value
- $240,600
Source: US Census Bureau American Community Survey 5-year estimates.
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