5538 S Perry Avenue

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Address: 5538 S Perry Ave, Chicago, IL 60621, USA
Chicago & Midwest + Apartment Buildings
Created date: June 5, 2026
Date last updated: September 12, 2026
Price: $71,250Investment Analyzer NEW!

Property Description

Step on up...don't be shy! This frame 2-unit is looking for its next owner, and thanks to a recent price improvement, the invitation just got a lot more attractive. Whether you're searching for a property with potential, a place to make your own, or an opportunity to add value through thoughtful updates, this could be the one that earns a spot at the top of your list. Featuring 2 bedrooms and 1 bath in each unit, this property offers flexibility, functionality, and plenty of room for imagination. The layouts provide a solid foundation for future improvements, while the partially finished basement offers additional space for storage, hobbies, recreation, or whatever creative vision you have in mind. Think of it as the bonus room that's still waiting to learn what it wants to be when it grows up. Let's be honest-some homes are completely finished. Others give you the opportunity to create something uniquely yours. This property proudly falls into the second category. Bring your ideas, your inspiration, your favorite paint color, and maybe even that toolbox you've been meaning to use more often. Washington Park is becoming more exciting! You'll enjoy convenient access to green space, walking paths, recreational amenities, and community attractions. The continued investment surrounding the Obama Presidential Center has brought renewed excitement and attention to the area. Nearby access to the University of Chicago, shopping, dining, public transportation, and the Dan Ryan Expressway helps keep everyday conveniences within easy reach. So if you've been waiting for an opportunity with upside potential, a great location, and a price that's moving in the right direction, don't let someone else become the new neighbor first. Opportunity is knocking. The price has spoken. Now all that's missing is you.

Key Property Information

Listing Status: Pending Sale
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $71,250
Year Built: 1888
Opportunity Zone: No
Property Website Click Here
Number of Bedrooms: 4
Number of Bathrooms: 2
Address: 5538 S Perry Avenue, Chicago, IL 60621, USA
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Step 1Financing Calculation

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Step 2Gross Rent Analysis

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Step 3Cap Rate Calculation

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Step 4Final Deal Analysis

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