5538 S Perry Ave, Chicago, IL
4 bd · 2 ba · 0 sqft Multi-Family listed at $133,000, built in 1888 in the Washington Park neighborhood.
About this home
This frame 2-unit just became an even better opportunity! Featuring 2 bedrooms and 1 bath in each unit, this property offers space, flexibility, and the chance to create something special. Yes-it needs creativity and vision to bring it back to full potential, but for the forward-thinking buyer, this is where opportunity meets upside. Each unit offers a functional layout with well-proportioned rooms, providing a solid starting point for your updates. The partially finished basement adds additional space for storage, a recreation area, workshop, or future improvements. Think of it as a blank canvas... with a head start. Conveniently located near Washington Park, you'll have access to green space, walking paths, and recreational amenities. The nearby Obama Presidential Center development continues to bring growth and investment to the area. The proximity to the University of Chicago, local dining, shopping corridors, and the Dan Ryan Expressway makes commuting and day-to-day errands accessible. Public transportation options further enhance connectivity throughout the city. Whether you're an owner-occupant ready to invest some effort into building equity, or an investor seeking your next value-add project, this property offers strong potential in a location with ongoing development. Bring your ideas, your plans, and yes-your favorite hammer and paint brush-because this one is ready for a complete overhaul.
Property details
- Price
- $133,000
- Bedrooms
- 4
- Bathrooms
- 2
- Year built
- 1888
- Lot size
- 2,178 sqft
- Type
- Multi-Family
- Days on market
- 73
- Est. property tax
- $2,766/yr · $231/mo · 2.08% IL avg
Estimated monthly payment
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Price history
▼ 5%Most recent change on 2026-03-17: $140,000 → $133,000.
- Mar 17, 2026$133,000Price change
- Feb 12, 2026$140,000Initial list price
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 60621)
This neighborhood is primarily renter-occupied (25% owner-occupied). Median age is 37.4; 11% hold a bachelor's degree; median household income is $30,163.
- Median income
- $30,163
- Median age
- 37.4
- Owner-occupied
- 25.4%
- Bachelor's degree
- 10.7%
- Census median home value
- $125,100
Source: US Census Bureau American Community Survey 5-year estimates.
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