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7 Beds
4 Baths

$400,000

7751 S Phillips Avenue, Chicago IL, 60649

Built in1923
Property typeMulti-family
Listed by Jason Marsing with Fulton Grace Realty 312-508-1011

Overview

Active

Listed Feb 3, 2026

Updated Aug 5

Attention investors and house hackers, this South Chicago 3-flat checks every box. 7751 S. Phillips Ave offers immediate cash flow with serious value-add upside in one well-maintained package. The building features three income-producing units: two 2-bedroom/1-bath units currently leased at $1,300/month and one spacious 3-bedroom/1-bath unit at $1,500/month, generating $4,100/month and $49,200 annually in rental income at a 7.7 cap rate. The real opportunity is in the unfinished basement. With the right build-out, this space can be converted into an additional 1- or 2-bedroom unit, pushing total monthly rents to $5,100-$5,300 and stabilized property value well north of $550,000, a potential $130,000+ in forced equity for the right buyer. Whether you're an experienced investor looking to add a cash-flowing asset to your portfolio, or an owner-occupant ready to live in one unit while the other two cover your mortgage, 7751 S. Phillips delivers. Strong existing tenants, proven rents, and a clear path to increased value make this a rare find at this price point.

$2,661/mo

Est. mortgage payment based on a $400,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
12560835

Interior Features

Bedrooms
7
Bathrooms
4
Heating
Yes
Basement
Yes

Other Property Details

Taxes
$3,388
Tax Frequency
Annually
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Listed by Jason Marsing with Fulton Grace Realty 312-508-1011

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Romolo Group are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

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Data is refreshed every 3 hours. Listing last updated 2:59 AM UTC on 8/5/2026. 

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