Meticulously maintained brick & frame 3-unit building in a quiet neighborhood in Summit, Illinois! Excellent investment opportunity with strong cash flow potential or perfect for owner-occupants. Currently generating $4,031/month (potential of ~ $5,000/mo. due to current below market rents). Current GRM of 8.65. This spacious ~3,300 sq ft multifamily property sits on an oversized 45×125 lot with side yard. The property features a bottom floor having a large 4 bed / 2 bath owner’s unit, upstairs units are a 2 bed / 1 bath unit and a 1 bed / 1 bath unit. Recent updates include: Unit 2F fully remodeled (2022), Unit 1 updated (~2017), Unit 2R features new quartz countertop & ducted range hood. Separate circuit breaker panels and gas meters for each unit. One furnace serves the building. Additional highlights include a detached 4-car garage with artist studio (rented out for storage), full basement with Coin Washer & Dryer, and strong rental appeal. Conveniently located near major highways, with a large community park at the end of the block, offering both accessibility and neighborhood charm. PROOF OF FUNDS REQUIRED PRIOR TO SHOWINGS. Broker Owned Interest.
Property Details
Price:
$419,000
MLS #:
MRD12466230
Status:
Active Under Contract
Beds:
7
Baths:
4
Type:
Multi Family
Neighborhood:
summit
Listed Date:
Apr 8, 2026
Year Built:
1927
See this Listing
Schools
School District:
217
High School:
Argo Community High School
Interior
Heating
Natural Gas
Exterior
Architectural Style
Colonial
Community Features
Curbs, Sidewalks, Street Lights, Street Paved
Construction Materials
Vinyl Siding
Garage Spaces
4
Parking Features
Yes, Detached, Garage
Parking Spots
4
Parking Total
4
Financial
Tax Year
2024
Taxes
$11,207
Map
Community
- Address7535 W 58th Place Summit IL
- CitySummit
- CountyCook
- Zip Code60501
Market Summary
Current real estate data for Multi Family in Summit as of Jun 15, 2026
5
Multi Family Listed
32
Avg DOM
$426,760
Avg List Price
Property Summary
- 7535 W 58th Place Summit IL is a Multi Family for sale in Summit, IL, 60501. It is listed for $419,000
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Copyright 2026. All rights reserved.
7535 W 58th Place
Summit, IL


