8612 S Burnham Ave, Chicago, IL 60617

Description

FULLY RENOVATED LEGAL 3-UNIT | ALL 3 UNITS VACANT | RECENTLY APPRAISED $15K ABOVE ASKING! Discover an opportunity to own a fully renovated, legal three-unit multifamily property in Chicago's South Chicago neighborhood. Whether you're looking to live in one unit while generating rental income from the others or expand your investment portfolio, this property offers flexibility, modern upgrades, and investment potential. Extensively renovated in 2026, this property features 8 bedrooms and 4 bathrooms across three units, including two 2-bedroom, 1-bathroom units and one spacious 4-bedroom, 2-bathroom unit. Improvements include new electrical, plumbing, HVAC systems with central air conditioning, updated kitchens and bathrooms, modern finishes, and separate utility meters. ALL THREE UNITS ARE VACANT, giving the next owner the flexibility to select tenants, establish rental arrangements, or occupy a unit without existing tenant leases. Additional features include basement storage, laundry hookups, and a rear parking pad. RECENTLY APPRAISED $15,000 ABOVE ASKING PRICE! The property recently received an appraisal exceeding the current listing price, offering buyers an additional valuation reference when considering this extensively renovated multifamily property. Appraisal documentation may be available upon request. MAJOR DEVELOPMENTS UNDERWAY: South Chicago is experiencing significant public and private investment, including the 440-acre Quantum Shore development and the 128-acre Illinois Quantum and Microelectronics Park, supported by a $500 million State of Illinois investment commitment. The development is expected to attract technology companies, research institutions, and employment opportunities, including IBM's announced commitment to create 750 full-time jobs. Adding to the area's investment activity, Advocate Health Care has broken ground on a new $300 million hospital, part of its broader $1 billion investment in South Side healthcare. The hospital is expected to open in 2029, bringing expanded healthcare services and additional employment opportunities to the area. With extensive renovations completed, all three units vacant, a recent appraisal above asking, and proximity to major technology and healthcare developments, this property offers a compelling opportunity for owner-occupants and investors seeking a renovated multifamily property. Schedule your private showing today!