456 E 87th Place, Chicago, IL 60619
Cook County
Key Facts
Description
Fully renovated in 2022, this turnkey all-brick 4-unit in Chatham is a rare owner-occupant house-hacking opportunity. The building offers four spacious 2-bedroom, 1-bathroom units, each rehabbed in 2022 with updated kitchens, baths, mechanicals, and finishes, leaving no deferred maintenance. Three units are currently leased and producing approximately $4,500 per month in income, with one vacant unit ready for an owner-occupant to move in and house-hack from day one, projected at $1,500 per month. Each unit is separately metered, with tenants responsible for their own utilities, keeping owner expenses low and cash flow strong. As a 4-unit primary residence, owner-occupant buyers may qualify with as little as 5% down, and lenders can count a portion of the existing and market rents toward qualifying income, increasing buying power. Additional features include a full unfinished basement offering storage and expansion potential, natural gas heat, and a 2-car garage. Conveniently located near the 87th Street Red Line and Metra Electric, offering quick access to transit, shopping, and the Dan Ryan. Move into the vacant unit, let the other three cover your mortgage, and start building wealth on Chicago's South Side.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1928
Lot Dimensions
3125 SQ FT
Garage Spaces
2
Parking Spaces
2
Ownership
Fee Simple
Days on Market
12
MLS® Listing#
12693528
Property Features
Heating
Basement
Parking
Construction
Windows
Community
Sewer
Water Source
Financial Details
Annual Taxes
$8,338
Tax year 2024
Parcel Number
25032000440000
Directions
North or South to 87th Street, 1 block east of King Drive, South to Property
Affordability Calculator
$120,000
Estimated monthly payment
$3,193/mo
Principal $479,999 · Est. interest $669,642 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Chicago, IL
- $389,049
- Median Listing Price
- 46
- Median Days on Market
- 1,422
- Median Sq Ft
- $277
- Median Price / Sq Ft
- 4,620
- Active Listings
- This home’s price is 54% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Chicago, IL.
Location
- 456 E 87th Place, Chicago, IL 60619
Points of Interest in Chicago, IL
Showing the Chicago area map.
Nearby Schools
James E. McDade Classical School
Elementary · 0.4 mi away
John T Pirie Fine Arts and Academic Center
School · 0.4 mi away
Neil Elementary School
Elementary · 0.5 mi away
Dixon Elementary School
Elementary · 0.5 mi away
Arthur Ashe Junior Elememtary School
Elementary · 0.7 mi away
Perspectives Leadership Academy
Secondary · 0.8 mi away
Chicago Public Schools
Elementary · 1.0 mi away
Harold Washington Elementary
Elementary · 1.0 mi away
Lenart Elementary Regional Gifted Center
Elementary · 1.1 mi away
Chicago Public Schools
Elementary · 1.1 mi away
Christian Stem Scholars Academy
School · 1.1 mi away
Turner-Drew Language Academy
School · 1.2 mi away
Chicago Public Schools
School · 1.2 mi away
Resurrection Lutheran Church
School · 1.2 mi away
Chicago Public Schools
Elementary · 1.2 mi away
St Dorothy's School
School · 1.2 mi away
Harlan Community Academy
School · 1.3 mi away
New Concept School
School · 1.3 mi away
Betty Shabazz International Charter School
Elementary · 1.3 mi away
Discovery Academy 2
School · 1.3 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 6127 S Champlain Avenue, Chicago, IL | $420,000 | 8 | 3 | — |
| 9116 S South Chicago Avenue, Chicago, IL | $420,000 | 8 | 4 | — |
| 3919 W Monroe Street, Chicago, IL | $425,000 | 7 | 3 | — |
| 6733 S Maplewood Avenue, Chicago, IL | $425,000 | 9 | 3 | — |
| 5400 W AUGUSTA Boulevard, Chicago, IL | $425,000 | 8 | 4 | — |
| 5718 S Sangamon Street, Chicago, IL | $429,000 | 10 | 3 | — |
Moving Cost Estimate
EXIT Agents in Chicago
Listing Courtesy: EXIT Strategy Realty - info@skylerlemons.com
Last Updated: 2026-07-06