32-unit courtyard building in Chicago’s Greater Grand Crossing submarket, offered at $1,700,000 ($53,125/unit | $75.89/SF). This 1925-built, ~22,400 SF brick courtyard property spans four entrances (7042, 7044, 7046, 7048) and delivers immediate in-place income with clear upside baked into the rent roll. Sub-$60K/unit basis with income already in place, as only two units require lease-up. Rents are meaningfully below market across the entire mix, giving a new owner a straightforward, low-risk path to NOI growth without a heavy capex program. Porches were replaced in 2007, with permitted repairs completed in 2019. Situated in Greater Grand Crossing, a renter-dominant submarket with strong transit reliance, supporting durable workforce rental demand – a large share of households have no vehicle and rely on transit for commuting. Healthcare and education anchor local employment, with the Loop as the largest commuter destination. The property sits within a short drive of University of Chicago, UChicago Medicine, Jackson Park, the DuSable Museum, and the Obama Presidential Center, with everyday retail (Walgreens, ALDI, Dunkin’, Subway, Mobil) all within a mile. Offering Memorandum with staged interior photos available upon request.
Property Details
Price:
$1,700,000
MLS #:
MRD12762329
Status:
Active
Beds:
3
Baths:
3
Type:
Commercial
Neighborhood:
chigreatergrandcrossing
Listed Date:
Sep 17, 2026
Year Built:
1925
See this Listing
Schools
Interior
Exterior
Stories
3
Financial
Maintenance Fee
$22,648
Tax Year
2024
Taxes
$31,248
Map
Community
- Address7042 S Michigan Avenue Chicago IL
- CityChicago
- CountyCook
- Zip Code60637
Market Summary
Current real estate data for Commercial in Chicago as of Oct 05, 2026
885
Commercial Listed
186
Avg DOM
$1,021,568
Avg List Price
Property Summary
- 7042 S Michigan Avenue Chicago IL is a Commercial for sale in Chicago, IL, 60637. It is listed for $1,700,000
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Copyright 2026. All rights reserved.
7042 S Michigan Avenue
Chicago, IL


