Listing provided courtesy of Kale RealtyMREDas Distributed by MLSGrid- MLS# 12614240
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Request Info2904 S Wells StreetChicago, IL 60616
Commercial · 14 Beds · 0.07 Acres$1,080,000
Active
2904 S Wells Street Overview
- Time on Site:
- 82 days
- Visits:
- 0
Excellent investment opportunity in the desirable neighborhood! This well-maintained multi-unit property features a total of 7 residential units , offering multiple streams of rental income. The front building includes a 3 bed/1 bath unit on the first floor, a 2 bed/1 bath unit on the second floor, and a 1 bed/1 bath unit on the third floor, while the rear building consists of three 2 bed/1 bath units. Additional income is generated from the coach house unit and parking space. The property is in solid condition, with 6 units featuring central heating and cooling and 1 unit equipped with central heat and window AC. Current rents are below market and have not been increased in years, presenting a strong value-add opportunity for investors to enhance cash flow through future rent adjustments. The versatile unit mix appeals to a wide tenant base and helps minimize vacancy. Conveniently located near transportation, restaurants, and local amenities, this is an ideal asset for both seasoned investors and those seeking stable long-term income.
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2904 S Wells Street Facts & Features
- Type Commercial
- Lot 0.07 Acres
Details
General
Income/Expenses
- Other Expense: 0
- Electric Expense: 0
- Fuel Expense: 0
- Gross Income: 79320
- Insurance Expense: 4773
- Maintenance Expense: 0
- Net Operating Income: 53720
- Operating Expense: 25599
- Trash Expense: 0
- Water Sewer Expense: 3600
Building Information
- Year Built: 1885
Location/Region
- County Or Parish: Cook
- MLS Area Major: CHI - Armour Square
- Township: South Chicago
Rent/Lease Information
- Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
Tax Information
- Tax Annual Amount: $17,226.82
- Tax Year: 2024
General Information
- Parcel Number: 17284260190000
- Property Type: Commercial Sale
- Zoning: MULTI
Interior
General Information
- Stories: 3
Exterior
Lot Information
- Additional Parcels: No
- Lot Size Dimensions: 25X125
General Information
- Number Of Units Total: 7
Unit Information
Unit 1 Details
- Unit Type: Unit 1
- Beds Total: 3
- Baths Total: 1
- Units Total: 1
Unit 2 Details
- Unit Type: Unit 2
- Beds Total: 2
- Baths Total: 1
- Units Total: 1
Unit 3 Details
- Unit Type: Unit 3
- Beds Total: 1
- Baths Total: 1
- Units Total: 1
Unit 4 Details
- Unit Type: Unit 4
- Beds Total: 2
- Baths Total: 1
- Units Total: 1
Unit 5 Details
- Unit Type: Unit 5
- Beds Total: 2
- Baths Total: 1
- Units Total: 1
Unit 6 Details
- Unit Type: Unit 6
- Beds Total: 2
- Baths Total: 1
- Units Total: 1
Unit 7 Details
- Unit Type: Unit 7
- Beds Total: 2
- Baths Total: 1
- Units Total: 1
2904 S Wells Street Neighborhood
Community
60616 (CHICAGO) Demographics
38
Median Age
11,385
Population Density (per sq. mile)
53%
College Educated
$61,843
Estimated Median Income
9,233
Estimated Total Home Owners
15,237
Estimated Total Renters
38% / 62%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.2904 S Wells Street Monthly Cost
2904 S Wells Street Market Data
Based on the last 30 days in this zip code
$424,602
Average List Price
$328
Average Price per Square Foot
41
Properties Sold
58
Average Days on Market
142
Properties for Sale
2904 S Wells Street History
| Date | Value | Agent |
|---|---|---|
| 4/14/2026Source: MRED | Active |
|
| 4/9/2026Source: MRED | April 09, 2026 |