Price Reduction
Address
342 E 71st Street, Chicago, IL
Price
$ 1,135,000
Property Attributes
- MLS#12696374
- TypeCommercial
- Listing Status Active
- CountyCOOK
- CityChicago
- AreaCHI - Greater Grand Crossing
- NeighborhoodGrand Crossing
- Zip60619
- StyleCommercial
- Year Built1915
- Taxes$ 31281
- Price$ 1,135,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.172176 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Exceptional Mixed-Use Investment Opportunity! This rare package includes two modern buildings being sold together, offering a total of 10 residential units and 4 commercial storefronts in a prime, income-producing location. 342-348 E. 71st, features four retail storefronts and four spacious 2-bedroom apartments, while 7051 S. Calumet Avenue is a three-story, six-unit apartment building, with all six units offering 2-bedroom layouts. Additional improvements include a partial roof replacement in 2024 on 342-348 E 71st, along with updated electrical and copper plumbing in 2020. The residential units are highly desirable 2-bedroom layouts, and the commercial component provides diversified income with additional upside potential. Whether you're expanding your portfolio or completing a 1031 exchange, this turnkey mixed-use investment offers strong cash flow, multiple revenue streams, and long-term appreciation potential.
| Price History | |
|---|---|
| 7/9/2026 | Listed $1,200,000 |
| 9/23/2026 | 6$1,135,000 |
General Features
| Cooling | Central Air,Central Individual,Office Only |
|---|---|
| Possession | Closing |
| Roof | Membrane |
| Zoning | OTHER |
| Construction Materials | Brick,Concrete |
| Year Built | 1915 |
| Electric | Circuit Breakers |
| Tenant Pays | Air Conditioning,Electricity,Heat,Other |
| Stories Count | 3 |
| Township | Hyde Park |
| Property Subtype | Mixed Use |
| Tax Year | 2024 |
| Current Use | Commercial |
| Gross Income | 173160 |
| County | Cook |
| Net Operating Income | 103598 |
| Operating Expense | 69561 |
| Insurance Expense | 21000 |
| Property Type | Commercial Sale |
| Possible Use | Multi-Family,Retail |
| Status | Active |
| Directions | East or West on 71st street to 342 E. (North East Corner of 71st Street & Calumet Ave) |
| City | Chicago |
| Number Of Units Total | 14 |
| MLS Area | CHI - Greater Grand Crossing |
| Lot Size Square Feet | 7500 |
| Tax Annual Amount | 31281.5 |
| Electric Expense | 720 |
| Trash Expense | 2760 |
| Water Sewer Expense | 4500 |
| Additional Parcels Y/N | No |
| Lease Type | Net |
| Standard Status | Active |
| Property Type | Mixed Use |
| Cap Rate | 8.6 |
Exterior Features
| Foundation Details | Concrete Perimeter |
|---|---|
| Lot Dimensions | 100 X 75 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60619
Price
Taxes
Year Built
Visits
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