3247 South Morgan Street, Chicago, IL


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About 3247 South Morgan Street

A professional rehabbers dream project. Cash only/ construction loans only please. Finished value $775,000. With a purchase Price of $240k and a construction budget of ~$330k you have a great margin here. The potential rents for this three units also give you a nice return while you hold it and let the area grow and watch the building appreciate. The building sits in the perfect Brodgeport location to grow in value and attract hi rents . Contractors and Buyers who want to customize and upgrade and have a way to create significant equity here. This is a 3 unit residential Multi-Family Building on RS3 zoned lot. The lot is landlocked/no parking, but is again at the park with awesome walking amenities . The decks and metal side deck is not damaged/good condition. The roof is in average condition/can likely be reused. The interior likely Needs new mechanicals(HVAC), plumbing, electrical, framing. Does not appear to have structural damage. Basement only 6' hi. the smart play is to go UP (use attic and duplex up if you can later get a higher zoning). It is a 3 FLAT on zoning cert. The land is rs3 so to do more units you need a rezone/etc. The seller will not delay for your zoning approvals. Cash deal/construction loan, with quick, 40 day close or sooner desired. Again, this property will require a experienced contractor. Buyer will take on building court case as is typical with fire damaged properties until building is completed. Large square footage. Drive by first. Approvals/POF needed PRIOR to walkthroughs. Let's make a deal

Features of 3247 South Morgan Street

MLS® # 11860641
Price $235,000
Units 3
Bedrooms 4
Bathrooms 4.00
Type Residential Income
Sub-Type Two to Four Units
Style Other
Status Active
Multi-Family No

Community Information

Address 3247 South Morgan Street
Area CHI - Bridgeport
City Chicago
County Cook
State IL
Zip Code 60608


Heating Natural Gas
Fireplace No
Has Basement Yes
Basement English


Exterior Brick

School Information

District 299

Additional Information

Days on Market 107
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeBetter Living Realty

Listing Map

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