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1471 E 67th St 23 Unit Apartment Building $500,000 ($21,739/Unit) Chicago, IL 60637
Executive Summary
Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is pleased to present 1471 E 67th St, Chicago, IL 60637—a vacant mixed-use retail and residential asset being offered for redevelopment/land value.
The property is fully vacant and currently configured with 7 commercial units, 12 studio apartments, and 4 one-bedroom apartments. The retail and residential portions require a full renovation, creating a clear value-add path to reposition the building and restore the apartments as income-producing units.
Neighborhood Overview: South Shore & East Woodlawn
South Shore—bordering the fast-evolving East Woodlawn corridor—has become a key target for South Side reinvestment due to its lakefront proximity, strong neighborhood identity, and accelerating development pipeline.
Proximity to Major Developments: Located near Jackson Park and the Obama Presidential Center, positioning the site to benefit from increased foot traffic, visibility, and long-term economic lift.
Mixed-Use Upside: B3-3 zoning supports community shopping districts and encourages a blend of commercial and residential uses, ideal for developers pursuing modern mixed-use concepts.
Rising Investment Momentum: The submarket is seeing increased public and private investment, strengthening the long-term fundamentals for redevelopment plays.
Positive Economic Indicators for South Shore
Development Activity: Continued neighborhood investment and nearby catalytic projects are expected to support value growth and future demand for both housing and neighborhood-serving retail.
Transit Connectivity: Excellent access via the South Shore Metra line and multiple CTA bus routes, providing efficient connections to downtown and major employment nodes.
Residential Demand Tailwinds: Growing interest from professionals and families is increasing demand for quality housing—supporting mixed-use projects that integrate retail, services, and residential living.
The property is fully vacant and currently configured with 7 commercial units, 12 studio apartments, and 4 one-bedroom apartments. The retail and residential portions require a full renovation, creating a clear value-add path to reposition the building and restore the apartments as income-producing units.
Neighborhood Overview: South Shore & East Woodlawn
South Shore—bordering the fast-evolving East Woodlawn corridor—has become a key target for South Side reinvestment due to its lakefront proximity, strong neighborhood identity, and accelerating development pipeline.
Proximity to Major Developments: Located near Jackson Park and the Obama Presidential Center, positioning the site to benefit from increased foot traffic, visibility, and long-term economic lift.
Mixed-Use Upside: B3-3 zoning supports community shopping districts and encourages a blend of commercial and residential uses, ideal for developers pursuing modern mixed-use concepts.
Rising Investment Momentum: The submarket is seeing increased public and private investment, strengthening the long-term fundamentals for redevelopment plays.
Positive Economic Indicators for South Shore
Development Activity: Continued neighborhood investment and nearby catalytic projects are expected to support value growth and future demand for both housing and neighborhood-serving retail.
Transit Connectivity: Excellent access via the South Shore Metra line and multiple CTA bus routes, providing efficient connections to downtown and major employment nodes.
Residential Demand Tailwinds: Growing interest from professionals and families is increasing demand for quality housing—supporting mixed-use projects that integrate retail, services, and residential living.
Property Facts
| Price | $500,000 | Building Class | F |
| Price Per Unit | $21,739 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 13,283 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 0% |
| No. Units | 23 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | B3-3 | ||
| Price | $500,000 |
| Price Per Unit | $21,739 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | F |
| Lot Size | 0.16 AC |
| Building Size | 13,283 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 1913 |
| Opportunity Zone |
Yes |
| Zoning | B3-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| Studios | 12 | - | - |
1 1
Property Taxes
| Parcel Number | 20-23-402-006-0000 | Improvements Assessment | $86,185 |
| Land Assessment | $6,900 | Total Assessment | $93,085 |
Property Taxes
Parcel Number
20-23-402-006-0000
Land Assessment
$6,900
Improvements Assessment
$86,185
Total Assessment
$93,085
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1471 E 67th St
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