About this home

6506-6508 S. Ellis Avenue is a rarely available six unit multifamily building located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library. Building underwent major renovation in approximately 2012 (Newer framing, newer copper plumbing, newer electrical in all units, individual furnaces and hot water heaters in each unit). Hardwood floors in 5 of the 6 units. There are four (4) 2 bedroom, 1 bath units (located on the second and third floors), and two (2) 4 bedroom, 3 bath units on the first floor that are condo units that UTILIZE THE FIRST FLOOR AND THE LOWER LEVEL! FLOOR PLANS AVAILABLE FROM LISTING AGENT! Each unit has in-unit laundry, a dishwasher, and one (1) parking space per unit in the rear of the building. Units also have their own furnaces and TENANTS responsible for their own heat and electric. Water is not individually metered. Gated access to the building. Fenced-in yard space in the rear. Tenants also have access to a newer balcony in the rear of each unit. Common areas also remodeled. Because this neighborhood is being sought-after, two single family homes directly across the street (6501 & 6503 S. Ellis Avenue) from this building have sold for $739,000!!! And more to come with New Construction being built all around! Much more value to add to this building by stabilizing rents to current market value! Taxes have been reduced drastically thru an appeal process as the building previously had six different PINs. Owner has dissolved the HOA in late 2024 and the assessor will issue a single PIN in 2026. Other six unit buildings that have sold recently with a single PIN have their taxes around 13-14k for the last full tax year. Higher Rents and Less taxes will equal higher income!!! Email listing agent for any questions.

Property details

Price: $1,175,000
Bedrooms: 16
Bathrooms: 10
Year built: 1930
Type: Multi-Family
Days on market: 90
Est. property tax: $24,440/yr · $2,037/mo · 2.08% IL avg
Last sold: $275,000 · Jun 2003

Estimated monthly payment

Down payment20% ($235,000)

Interest rate6.75%

Principal & Interest$6,097

Property Tax$1,077

Insurance$150

Total$7,324/mo

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Price history

$275K · Jun 03$1.18M · Jan 26

Jan 26, 2026$1,175,000Initial list price
Nov 21, 2024$940,000Initial list price
Sep 10, 2024$950,000Price change
Aug 21, 2024$1,025,000Initial list price
Mar 1, 2024$990,000Price change
Dec 27, 2023$990,000Initial list price
Feb 9, 2013$1,600Price change
Nov 14, 2012$1,600Price change
Jun 27, 2003$275,000Sold

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.

Location

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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.