Rarely does an opportunity like this come along at this price point. Priced at $650,000, this 3-unit sits just steps from the future Obama Presidential Center and near the rapidly transforming 63rd Street corridor. The $800M Woodlawn Central development, an 8-acre mixed-use project, is expected to bring a hotel, theater, technology center, retail, restaurants, residential towers, and a vertical farm to the neighborhood. Each unit features a generously sized primary bedroom with en-suite bath, a private balcony, and a cozy fireplace in the living room. With two units vacant, you have immediate flexibility to set market rents or design your ideal living setup. This property offers a clear value-add opportunity for buyers looking to build equity in a rapidly appreciating market. Live in one unit while generating rental income from the others, or hold as a long-term investment in one of Chicago’s most closely watched growth corridors. Each unit has its own PIN, offering a potential path to future condo conversion. Gated rear parking for three vehicles and tenant-paid utilities add to the appeal. Conveniently located near Mt. Carmel High School and the Metra line. Sold as-is.
Property Details
Price:
$650,000
MLS #:
MRD12627094
Status:
Active Under Contract
Beds:
9
Baths:
6
Type:
Multi Family
Neighborhood:
chiwoodlawn
Listed Date:
Apr 30, 2026
Year Built:
1891
See this Listing
Schools
School District:
299
Interior
Heating
Natural Gas
Exterior
Construction Materials
Aluminum Siding, Brick
Parking Features
Yes, Owned
Parking Spots
3
Parking Total
3
Financial
Tax Year
2024
Taxes
$9,615
Map
Community
- Address6500 S Dorchester Avenue Chicago IL
- CityChicago
- CountyCook
- Zip Code60637
Market Summary
Current real estate data for Multi Family in Chicago as of Jun 21, 2026
1,406
Multi Family Listed
80
Avg DOM
$530,446
Avg List Price
Property Summary
- 6500 S Dorchester Avenue Chicago IL is a Multi Family for sale in Chicago, IL, 60637. It is listed for $650,000
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Copyright 2026. All rights reserved.
6500 S Dorchester Avenue
Chicago, IL


