Legal 2-Unit Property with Potential to legalize existing Third Unit in Woodlawn! Excellent investment opportunity in Chicago's Woodlawn neighborhood, near the Obama Presidential Center and surrounding development. Currently recognized as a legal 2-unit property, the building features two main residential units plus an existing garden apartment with potential for conversion to a legal third unit. Located in an RM-5 zoning district, the property offers an opportunity to pursue legalization of the basement unit, subject to applicable building code requirements, permits, and City of Chicago approvals. The basement meets the height requirements exit door requirements and 4 gas and electrical meters. The top-floor unit is currently occupied by tenants paying $1,800 per month, providing rental income that can help mortgage payments while offering additional income potential. Renovations completed in 2024 include updates to plumbing, electrical systems, and HVAC, along with modern interior finishes. This property presents an attractive value-add opportunity for investors or owner-occupants seeking rental income and future upside in an evolving South Side neighborhood.

Listing Courtesy of MRED as distributed by MLS Grid of Prello Realty



Based on information submitted to the MLS GRID as of 2026-11-04 03:15 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2026-11-04 03:15 PM UTC
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