7200 S Vincennes Avenue, Chicago, IL 60621
Cook County
Key Facts
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.
Property Information
Property Type
Commercial Sale
Sub-Type
Multi Family
Year Built
1914
Stories
3
Lot Size
0.38 acres
Lot Dimensions
16598
Zoning
MULTI
Days on Market
48
MLS® Listing#
12649787
Property Features
Construction
Roof
Financial Details
Annual Taxes
$15,555
Tax year 2024
Parcel Number
20282120010000
Directions
TAKE 71ST STREET TO VINCENNES
Affordability Calculator
$70,000
Estimated monthly payment
$1,863/mo
Principal $279,999 · Est. interest $390,624 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Chicago, IL
- $387,475
- Median Listing Price
- 32
- Median Days on Market
- 1,406
- Median Sq Ft
- $283
- Median Price / Sq Ft
- 4,255
- Active Listings
- This home’s price is 10% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Chicago, IL.
Location
Points of Interest in Chicago, IL
Showing the Chicago area map.
Nearby Schools
Deneen Elementary School
Elementary · 0.3 mi away
Chicago Sda Academy
School · 0.4 mi away
Chicago Public Schools
Elementary · 0.5 mi away
Englewood Stem High School
Secondary · 0.5 mi away
Parker Community Academy
School · 0.5 mi away
Robeson High School
Secondary · 0.6 mi away
Chicago Public Schools
School · 0.6 mi away
Dr Martin Luther King, Junior Academy of Social Justice
Elementary · 0.6 mi away
Brownell Elementary School
Elementary · 0.7 mi away
Benjamin E. Mays Elementary Academy
Elementary · 0.8 mi away
Barbara A. Sizemore Academy
Elementary · 0.8 mi away
Mahalia Jackson Elementary
Elementary · 0.9 mi away
Park Manor Elementary School
Elementary · 0.9 mi away
Chicago Public Schools
Elementary · 1.0 mi away
Guggenheim Elementary School
Elementary · 1.0 mi away
Chicago Public Schools
Elementary · 1.0 mi away
Oglesby Elementary School
Elementary · 1.0 mi away
Master's Academy
School · 1.1 mi away
Community Youth Development Institute
Secondary · 1.1 mi away
Chicago Public Schools
Elementary · 1.1 mi away
Commute Calculator
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Moving Cost Estimate
EXIT Agents in Chicago
Listing Courtesy: United Realty and Development - 6303968100
Last Updated: 2026-05-15