318 W 24th Place
Chicago, IL, 60616
$648,800
5 Beds
2 Baths
0 SqFt
0 Acres
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MLS #MRD12607967 image #0
Seize this rare opportunity to own a multi-unit property in the thriving heart of Chinatown-one of Chicago’s most dynamic and rapidly growing neighborhoods! This versatile building offers two main units plus a finished basement unit, all equipped with central heating and cooling for year-round comfort. Sun-filled interiors and a 2-car garage add even more value to this exceptional offering. The property is currently occupied by long-term tenants, with rents priced far below market-creating immediate upside for the savvy investor. Whether you choose to renovate, reposition, or simply bring rents to market levels, the cash-flow potential is tremendous. Location is everything, and this one has it all: just steps from CTA transportation, restaurants, shops, parks, and banks, with unbeatable access to major highways. Convenience and demand in this area continue to rise. Additional Highlight: this property sits directly beside a large vacant lot poised for major future development in Chinatown. Owning next to a significant development site positions you perfectly to benefit from appreciation and increased neighborhood visibility. Opportunities like this are truly rare. Don’t miss your chance to secure a high-potential multi-unit property in one of Chicago’s most desirable and evolving communities!

Property Details

Price:
$648,800
MLS #:
MRD12607967
Status:
Active Under Contract
Beds:
5
Baths:
2
Type:
Multi Family
Neighborhood:
chiarmoursquare
Listed Date:
Apr 1, 2026
Year Built:
1890
Chi – Armour SquareChiarmoursquare

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Schools

School District:
299

Interior

Heating
Natural Gas

Exterior

Community Features
Park, Sidewalks, Street Lights
Construction Materials
Vinyl Siding, Brick
Garage Spaces
2
Parking Features
Yes, Garage Owned, Detached, Garage
Parking Spots
2
Parking Total
2
Roof
Asphalt

Financial

Tax Year
2024
Taxes
$9,443

Map

Community

Market Summary

Current real estate data for Multi Family in Chicago as of May 16, 2026
1,363
Multi Family Listed
79
Avg DOM
$514,869
Avg List Price

Property Summary

    318 W 24th Place Chicago IL is a Multi Family for sale in Chicago, IL, 60616. It is listed for $648,800

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318 W 24th Place
Chicago, IL