IL > Chicago
Chicago, IL 60637,6485 S Stony Island AVE
Chicago, IL 60637,6485 S Stony Island AVE
Chicago, IL 60637,6485 S Stony Island AVE
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$2,500,000
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6485 S Stony Island AVE Chicago, IL 60637

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Park Place Realty Group LLC

Park Place Realty Group LLC

Park Place Realty Group LLC

+1(708) 722-5106

UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12358845

Year Built 1925

Tax Year 2022

Lot Dimensions 12500

Property Sub-Type Mixed Use

Property Description

Rarely available 25-unit apartment building with 5 ground-floor retail storefronts located in the heart of Chicago's Woodlawn neighborhood-directly across from Jackson Park and just steps from the Obama Presidential Library. This mixed-use property is currently underperforming due to prolonged poor management and vacant commercial spaces, but it offers a clear path to stabilization and strong long-term cash flow. Currently, 60percent of the residential units are occupied, and many of the tenants have expressed willingness to remain, providing an immediate base of income for the next owner. Pro Forma NOI: $324,000 Asking Price: $2,500,000 Projected Cap Rate: ~12.96 Location Highlights: Directly across from Jackson Park, Around the corner from the Obama Presidential Center, Adjacent to Mount Carmel High School, Short walk to Lake Michigan and the lakefront trail. This is a rare investment opportunity in one of Chicago's most dynamic and rapidly appreciating neighborhoods. Ideal for value-add investors seeking to reposition a well-located asset and capitalize on significant upside potential in a high-growth corridor.

Location

State IL

County Cook

Area Chi - Woodlawn

Zoning COMMR

Interior

Cooling Central Air

Fireplace N

Building

Dwelling Type Mixed Use

Level or Stories 3

Structure Type Brick

Midwest Real Estate Data (MRED) IDX
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by DeShaun Matthews • Infiniti Properties, Inc.

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106

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