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Image 1 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 2 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 3 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 4 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 5 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 6 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 7 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 8 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Image 9 - 6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA - House for sale
Home For Sale In Chicago, Illinois
6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA

Home For Sale In Chicago, Illinois

house for sale
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Listed: 03/05/24

6228-6230 South Greenwood Avenue, Chicago, IL 60637, USA

Studio Bed:
2 Bath:
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Price
$ 1,66M

About This House

6228 S.Greenwood is nestled amongst new construction developments and are located two (2) blocks away from the prestigious University of Chicago. Additionally, the asset sit just blocks away from the construction site of the future Obama Presidential Library. 6228 S.Greenwood, an eight (8) unit center entrance walk-up, is comprised of seven (7) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. Units feature hardwood flooring, stainless steel appliances, updated cabinetry, and individual furnaces. 6228 S.Greenwood presents an investor with the rare opportunity to acquire a highly desirable building in one of Chicago's fastest growing and rapidly expanding neighborhoods. From day one, a new operator will realize a 7% cap rate. Given the rapidly changing rental market, an investor could further improve these figures. Solely by raising rents to levels already being achieved in the building, an investor could achieve a cap rate over 8% and cash return of 10.3%.

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Woodlawn Housing & Living

Household Income

Median household income: $57,238
Number of households: 1,1M
The average household income in Chicago, IL grew from $55,295 to $57,238 in the past year. This data is an estimate based upon 1,1M households in Chicago, IL.
The chart below presents how household income is distributed in Chicago, IL in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Chicago, IL compared to median property taxes around the country. The prevalent amount of property taxes in Chicago, IL equals $3k+ , which is more than the national average.