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$400,000

7227 Michigan Ave

Chicago, IL
Active
6
Bedrooms
1916
Year Built
228
Days On Market

Turnkey Investment Opportunity - Fully Updated 2-Unit Building in Chatham/Park Manor Welcome to 7227 Michigan Ave-an exceptional opportunity to own a newly updated, income-producing building in the sought-after Chatham/Park Manor neighborhood. This well-maintained property features three spacious 3-bedroom, 1-bathroom apartments, making it ideal for investors seeking strong rental income or owner-occupants looking to live in one unit while generating revenue from the others. Each unit has been recently renovated with modern finishes, including beautiful hardwood floors throughout and updated kitchens with sleek granite countertops. The thoughtful upgrades and solid layout appeal to today's renters, helping ensure consistent occupancy and long-term value. The property also offers on-site laundry facilities (pay laundry), providing an additional income stream and added convenience for tenants. Investment Highlights: 3-unit residential building Each unit: 3 bedrooms, 1 bathroom Recently renovated interiors Hardwood flooring throughout all units Updated kitchens with granite countertops Strong rental demand in established neighborhood On-site coin/pay laundry for additional income Location Advantages: Ideally situated near Deneen Elementary School, Aldi, and L&P Foods, the property is perfectly positioned for tenant convenience. Excellent access to public transportation-including the Red Line and #3 bus route-as well as nearby expressways, makes commuting throughout the city simple and efficient. Additional Notes: Strong rental area with consistent demand Ideal for both seasoned investors and first-time buyers Whether you're expanding your portfolio or entering the investment market, 7227 Michigan Ave offers a compelling combination of location, updates, and income potential. Don't miss this opportunity to acquire a stabilized, income-generating asset in a growing neighborhood-schedule your showing today!

Listing Information

Listing Updated
09/14/2026
Listed By
Colleen Berg · Berg Properties, 8882769959
MLS#
12597509
Source
Midwest Real Estate Data (MRED)
Status
Active

Facts & Features

Location

Community Information

Address
7227 S Michigan Ave, Chicago, IL 60619
City
Chicago
County
Cook
Zip Code
60619

Architecture

Bedrooms
6
Year Built
1916
Construction Materials
Brick
Garage Spaces
0

Features & Amenities

Heating
Natural Gas

Property Features

Sewer
Public Sewer

Tax & Financial Information

List Price
$400,000
Annual Taxes
$3,376

Schools

100/100
Deneen Elementary School
Elementary · Grades PK–08 · 0.1 mi
City
Chicago
Students
571
Student body
98% Black · 1% Hispanic / Latino · 1% White
Free/reduced lunch
99%
Phone
(773) 535-3035
83/100
Robeson High School
Grades M–M · 0.9 mi
City
Chicago
Students
136
Student–teacher
14.3
Parent reviews
5.0★ avg · 2 reviews
Student body
99% Black · 1% Hispanic / Latino · 1% Two or More Races
Free/reduced lunch
99%
Phone
(773) 535-3800
68/100
Park Manor Elementary School
Elementary · Grades PK–08 · 0.6 mi
City
Chicago
Students
240
Parent reviews
5.0★ avg · 2 reviews
Student body
98% Black · 1% Two or More Races · 1% Hispanic / Latino
Free/reduced lunch
100%
Phone
(773) 535-3070
60/100
Amandla Charter School
Grades M–M · 0.8 mi
City
Chicago
Students
310
Student–teacher
15.5
Student body
98% Black · 1% Hispanic / Latino · 1% White
Free/reduced lunch
98%
Phone
(773) 535-7150
54/100
Harvard Elementary School
Elementary · Grades PK–08 · 0.7 mi
City
Chicago
Students
425
Student body
98% Black · 1% Hispanic / Latino · 1% Two or More Races
Free/reduced lunch
99%
Phone
(773) 535-3045
54/100
Ruggles Elementary School
Elementary · Grades PK–08 · 0.8 mi
City
Chicago
Students
312
Student body
97% Black · 2% Hispanic / Latino · 0% White
Free/reduced lunch
97%
Phone
(773) 535-3085
53/100
Brownell Elementary School
Elementary · Grades PK–06 · 0.6 mi
City
Chicago
Students
177
Student body
99% Black · 1% Hispanic / Latino · 1% Two or More Races
Free/reduced lunch
97%
Phone
(773) 535-3030
53/100
Noble St Charter-Comer College Prep
High · Grades 06–12 · 0.9 mi
City
Chicago
Students
1,151
Student body
97% Black · 2% Hispanic / Latino · 1% Two or More Races
Free/reduced lunch
81%
Phone
(773) 729-3969

School ratings are provided for informational purposes only and are subject to change. Attendance boundaries are for reference only — contact the school or district directly to verify enrollment eligibility.

Historical Data

Price History

DateEventPrice
04/06/2026Price change$400,000
03/20/2026Listed for sale$439,900

Listed by Colleen Berg · Berg Properties · 8882769959

Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. Copyright 2026, Midwest Real Estate Data (MRED). All rights reserved.

Last Updated: September 14, 2026 at 4:15 PM | Source: Midwest Real Estate Data (MRED) | MLS#: 12597509

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