Home Details for 456 E 87th Place

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.

• Basement

  • Unfinished
  • Full
  • Walk-Out Access

• Parking

  • Detached
  • Garage

• Heating Information

  • Natural Gas

• Water Features

  • Public