Active
6557 S Minerva Avenue
Chicago IL, 60637
$1,850,000
Active
Commercial
Built in 1903
Courtesy of Kiser Group Realty Inc
6557 S. Minerva is a rarely available ten (10) unit walkup located just outside of Hyde Park in Chicago's East Woodlawn neighborhood. The property is located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library, 6557 S. Minerva is comprised of five (5) 2Bd/2Ba, four (4) 3Bd/2Ba, and one (1) 3Bd/3Ba units. During a complete gut rehab in 2004, all four (4) first floor units were duplexed down and the building was deconverted from twelve (12) to ten (10) units to create two (2) penthouse apartments by consolidating the third floor units in both tiers. All units feature incredibly spacious layouts with updated kitchens and baths. Throughout the years, the building has undergone extensive renovations consisting of, but not limited to: 100% copper plumbing, new electric service w/ in-unit breaker boxes, individual furnaces & hot water tanks, in-unit washer and dryers, and an abundance of cosmetic updates. 6557 S. Minerva presents an investor with the opportunity to acquire a rarely available and highly desirable building in one of Chicago's best neighborhoods. From day one, a new owner will benefit from an incredibly stable and long-term tenant base. However, with most of the building's current rents being substantially below current market levels-there is a tremendous amount of value to be added solely by stabilizing rents to levels already being achieved in the building.
11999099
MLSⓇ ID
March 7, 2024
Listed
March 30, 2024
Updated
Map
6557 S Minerva Avenue
Chicago IL, 60637
Other Property Details
Area Name
CHI - Woodlawn
Taxes
$16,043
Tax Frequency
Annually
Days on Market
17
Garage
No
View
No
County
Cook
Pool
No
Courtesy of Kiser Group Realty Inc, Aaron Sklar,
Listing Contact: 773-293-5000
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Data last updated 3:12 AM UTC, 3/30/2024
