6200 S Harlem Avenue, Summit, IL 60501

Active · For Sale · Multi Family 5+

$700,000

6200 S Harlem Avenue, Summit, IL 60501

Units
6
Price / Unit
$116,667
Est. GRM
137.25
Gross Income
$5,100

Property Overview

Turnkey 6-unit investment opportunity in Summit Argo! This well-maintained multi-family building features five 1BD/1BA units and one spacious 2BD/1BA unit, with 5 of 6 units currently occupied by long-term, month-to-month tenants - no lease headaches, just steady income from day one. The sellers have taken pride in maintaining the building. Investors will love the no-fuss layout - no interior stairwell to maintain - plus an on-site coin laundry room for added convenience and additional income potential. A private rear parking lot adds everyday ease for tenants and long-term appeal for the next owner. One unit is vacant and ready for an owner-occupant or to be leased at market rate immediately. Current rents are all far below market value. A rare chance to step into a stabilized asset with reliable tenants and room to grow. Don't miss it!

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$5,100
Reported Annual Expenses
$7,700
Estimated GRM
137.25
Annual Taxes
$10,750 (2023)

Property Details

Units
6
Lot Dimensions
57x72
Stories
2
Year Built
1961
Building Age
Older
Parcel Number
18134260240000

Operations & Utilities

Heating
Baseboard
Cooling
Wall Sleeve

Location & Use

County
Cook
Market Area
Summit
Township
Lyons
Present Use
Multi-Family

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.