6049 S Champlain Avenue
Chicago, IL 60637

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Description

Turnkey SRO Investment Opportunity in Charming Greystone! Discover a long-established Single Room Occupancy (SRO) greystone property, thoughtfully managed by the current owner. Featuring 8 rooms across what appears to be a 2-unit structure with a finished basement, it has served senior tenants with distinction for years. Why this property stands out: High demand: SROs offer affordable housing for community members on tight budgets. Income flexibility: Continue with the existing 8 tenants, or increase revenue by adding a 9th tenant in the basement. Value-adding refresh: Convert legally to a 3-4 unit building, potentially elevating market value to approximately $900K. Spacious lot: The wide parcel provides potential for enhancements, expansion, or additional amenities. Investor, owner-operator, or developer? This greystone offers multiple paths: Keep it as is and sustain immediate rental income. Expand to maximize rental revenue. Reconfigure zoning to residential to appeal to traditional multi-unit buyers. Bottom line: This property delivers income stability, long-term value creation, and structural flexibility-all wrapped in the enduring charm of a classic greystone. Schedule your showing today and explore the possibilities!

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60637
• Year Built: 1903
• Stories: 2
• Units: 5 units
• Basement: Finished
• Zoning: MULTI
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Construction Materials: Brick, Concrete, Stone, Limestone
• Directions: South to 59th and dan ryan east to cottage, south to 61st then west to champlain and turn north to address.
• Electric Expense: 3000
• Electric Expense Source: Broker Projection
• Foundation Details: Concrete Perimeter
• Fuel Expense: 3600
• Fuel Expense Source: Broker Projection
• Gross Income: 64000
• Gross Scheduled Income: 52800
• Heat/Ventilation: Central Bldg Heat, Radiators, Radiant
• Information: 24-Hr Notice Required
• Insurance Expense: 6000
• Insurance Expense Source: Broker Projection
• Janitor Expense: 1200
• Main Type: Commercial Sale
• Misc Outside: Security Gate, Storms and Screens (as exist)
• Outdoor Parking: 1-5 Spaces
• Roof: Rubber
• Roof Structure: Flat
• Tax Annual Amount: 2473.4
• Tax Year: 2023
• Total Monthly Income: 4400
• Township: Hyde Park
• Trash Expense: 2000
• Trash Expense Source: Broker Projection
• Type Multi-Family: Rooming House/SRO
• Water Expense Source: Broker Projection
• Water Sewer Expense: 2400