548 E 61st ST Chicago, IL 60637

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 4,975 sqft

Price per Sqft $170

MLS Listing ID 12775307

Year Built 1923

Annual Tax Amount $3,010

Tax Year 2025

Lot Size 2,744 Sqft

Lot Dimensions 2750

Property Sub-Type Mixed Use

Property Description

A RARE FIND ON 61ST STREET! This versatile mixed-use 3-unit property is more than a building-it offers limitless possibilities for the savvy entrepreneur or investor. Currently generating income from multiple uses, this property offers the unique opportunity to live in, operate, lease, expand, or reimagine the space to fit your investment strategy. Walking distance to Obama Presidential Center, University of Chicago, and UChicago Medicine, the property offers a compelling location for short-term guests, residents, and entrepreneurs. The first-floor commercial space currently operates as a 4.9-star Airbnb, with furniture and furnishings included. Recently renovated, it features touchless faucets, an LED vanity mirror with Bluetooth/anti-fog technology, a Bluetooth-enabled LG range, and new LG appliances. Smart locks, USB outlets, and 2025 entry doors add modern convenience and security. The first floor is a flexible commercial space that could be utilized as an event space, restaurant, liquor store, or residential expansion, including a potential duplex with the basement. The second floor features a 4-bedroom, 2-full-bath income-producing shared co-living space. The second and third floors each feature a gas fireplace and private balcony. Each floor has in-unit laundry, central air conditioning, a Nest thermostat, and its own hot water heater. Major improvements include a roof approximately 4 years old, windows replaced in 2022 and 2025, furnaces replaced within the last 5 years, a new garage door in 2025, and new entry doors in 2025. All furnishings in the co-living space, most furniture in the Airbnb, all appliances, and a home warranty are included. Whether you're an investor seeking multiple income streams, an entrepreneur looking for a commercial space with built-in income potential, or a buyer looking for a property that can evolve with your vision, this property offers the rare combination of current cash flow potential and a property primed for its next chapter.

Location

State IL

County Cook

Area Chi - Woodlawn

Zoning OTHER

Interior

Cooling Central Air

Flooring Carpet, Tile, Varies, Wood

Fireplaces Number 2

Fireplace Y

Building

Dwelling Type Mixed Use

Structure Type Brick

Listed by Taneisha Naylor of Park Place Realty Group LLC

Nearby School & Business

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Park Place Realty Group LLC

Broker License ID: 888222

+1(708) 722-5106