7200 S Vincennes AVE, Chicago, IL 60621
$399,999
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0.38 Acres Lot
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7200 S Vincennes AVE Chicago, IL 60621

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Dennis & Karen

Dennis & Karen

+1(219) 213-3346

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Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12649787

Year Built 1914

Annual Tax Amount $15,555

Tax Year 2024

Lot Size 0.380 Acres

Lot Dimensions 16598

Property Sub-Type Multi Family 5+

Property Description

ENTIRE BLOCK opportunity in Chicago's Vincennes Village. 24-unit multifamily complex with a stamped architectural pricing set already in hand. Four contiguous four-story masonry buildings address 7200-7206 S Vincennes Ave and 7203-7205 S Wentworth Ave, with onsite manager's office and an interior community courtyard. Current configuration is 24 units (12 two-bedroom/one-bath and 12 one-bedroom/one-bath), six units per building. Zoned C1-2. The buyer steps into a fully designed, fully scoped rehab - not a guess. The complete architectural pricing set (dated 04/24/2026, Michael Office of Architecture) reconfigures the property to 26 units by adding new basement units and converting select upper-floor one-bedrooms into two-bedrooms. The sale includes the entire block - buildings plus the contiguous vacant parcel to the south. Drawings convert that south parcel into a 24-stall striped parking lot with new storm water system, masonry trash enclosure, landscaping, wrought iron fencing, and a 12' remote sliding gate. Extensive rehab needed across all four buildings - masonry restoration, structural repairs, full window/door replacement, complete MEP (all-electric base bid with gas alternates priced), and full interior finishes spec'd as contractor-grade for-rent. Protective canopies and secure entries are already in place. The property sits in a designated Qualified Opportunity Zone (60621). Investors rolling capital gains into a Qualified Opportunity Fund that acquires and substantially improves this asset can defer the original gain and eliminate federal tax on all appreciation if the QOF interest is held 10+ years. A heavy rehab basis clears the substantial-improvement test cleanly, and a stabilized multifamily reposition lines up with the 10-year hold horizon - materially better after-tax IRR than a non-OZ comparable for HNW investors carrying a large unrealized gain. Sold as-is. Full architectural pricing set, design narrative, survey, and photos available to qualified buyers on request.

Location

State IL

County Cook

Area Chi - Greater Grand Crossing

Zoning MULTI

Interior

Fireplace N

Exterior

Roof Type Rubber

Building

Dwelling Type Multi Family 5+

Structure Type Brick

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Anthony Khoshabe of  United Realty and Development 

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Dennis & Karen

Dennis & Karen

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+1(219) 213-3346

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