7349 W 57th Street

7349 W 57th Street, Summit, IL 60501

  • For Sale $1,800,000
  • Property Type Multi-Family
  • Property Size 9,668 SF
  • Units 17
  • Lot Size 0.18 Acre
  • Year Built 1962
  • Date Updated Mar 11, 2025
Situated about 13 miles southwest of downtown Chicago, Summit is a small suburban community covering just over two square miles. It is bordered by McCook to the west, Lyons to the north, and Bedford Park to the south. The village has a mix of residential, commercial, and industrial areas, with housing options that include single-family homes, townhouses, and apartment buildings. Summit has several transportation options that provide easy access to Chicago and the surrounding areas. The Summit Metra Station on the Heritage Corridor Line offers direct service to downtown, while nearby expressways, including I-55 and I-294, facilitate regional travel. Chicago Midway International Airport is also a short drive away, offering domestic and international flight connections. The community includes local parks, schools, and small businesses, as well as recreational spaces like Summit Park, which hosts events and activities. The village’s location and infrastructure support both residential and commercial development, making it a well-connected and functional suburb within the Chicago metropolitan area.Essex Realty Group, LLC. has been exclusively engaged to market for sale 7349 W 57th St, located just 13 miles southwest of downtown Chicago. This 17-unit apartment building features all 1-bedroom/1-bathroom units, with 15 of the 17 units recently rehabbed. The building operates with electric baseboard heat, significantly reducing operating expenses. Current rents provide a strong 7.12% capitalization rate and a Gross Rent Multiplier (GRM) of 7.78, offering stable existing cash flow. It's convenient location less than 5 miles from Midway Airport makes it appealing for tenants looking for easy access to transportation and downtown Chicago.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • Current / Forecasted Cap Rate – 7.12% / 7.78%
  • Proximity to Transportation – Less Than 5 Miles From Midway Airport, 13 Miles Southwest of Downtown Chicago
  • Significant Renovations – 15 of 17 Units Rehabbed
  • Operational Efficiency – Electric Baseboard Heat Reduces Expenses
  • Strong Cash Flow – Stable Income With Rental Upside Potential

Contacts

broker
Anthony Citriglia

Essex Realty Group

Location

Getting Around

  • Walk Score ®

    76/100 Very Walkable

  • Bike Score ®

    58/100 Bikeable
Powered by Walk Score ®
  • City Summit, IL
  • Zip Code 60501
  • Market Chicago

Points of Interest

  • Summit

    0.54 miles

  • Riverside

    2.82 miles

  • Hollywood

    2.89 miles

  • Harlem Avenue

    3.04 miles

  • Brookfield

    3.04 miles

  • Berwyn

    3.21 miles

  • Congress Park

    3.41 miles

  • LaGrange Road

    3.88 miles

  • Stone Avenue

    4.14 miles

  • Pulaski

    4.28 miles

  • Speedway

    0.25 miles

  • Citgo

    0.28 miles

  • Thorntons

    0.34 miles

  • Shell

    0.52 miles

  • BP

    0.81 miles

  • Compass

    1.43 miles

  • Good To Go

    1.58 miles

  • ChargePoint

    3.20 miles

  • EVgo

    5.28 miles

  • Soofa Solar Phone Charger

    8.01 miles

  • Midway Parking

    2.10 miles

  • Midway Employee Parking

    2.15 miles

  • Midway Airport Rental Car Facility

    2.85 miles

  • Midway Airport Economy Garage

    2.89 miles

  • Airport Speed Parking

    3.01 miles

  • Midway Airport Economy Lot

    3.17 miles

  • Overflow Lot

    3.24 miles

  • South Lot

    3.25 miles

  • Midway Airport Cell Phone Lot

    3.34 miles

  • Hampton Inn & Suites Bridgeview Chicago

    1.50 miles

  • Presidential Inn

    2.27 miles

  • Chicagoland Motel

    2.42 miles

  • Rodeway Inn Brookfield

    2.56 miles

  • Brookfield Motel

    2.66 miles

  • Pioneer Motel

    2.71 miles

  • Super 8 by Wyndham Bridgeview/Chicago Area

    2.87 miles

  • Colony Motel

    3.17 miles

  • Hilton Garden Inn Chicago/Midway Airport

    3.22 miles

  • Hyatt Place Chicago/Midway Airport

    3.22 miles

  • Popeyes

    0.22 miles

  • Potbelly

    0.26 miles

  • Beefy's

    0.27 miles

  • Jimmy John's

    0.28 miles

  • Dunkin'

    0.28 miles

  • Pizza Hut Delivery

    0.29 miles

  • Portillo's

    0.29 miles

  • Taco Burrito King

    0.30 miles

  • Little Caesars

    0.30 miles

  • Burger King

    0.32 miles

  • Saint Joseph School

    0.15 miles

  • Walsh Elementary School

    0.18 miles

  • Zion School

    0.33 miles

  • Graves Elementary & Heritage Middle Schools

    0.35 miles

  • Saint Blase School

    0.54 miles

  • Argo Community High School

    0.90 miles

  • Byrne Elementary School

    0.92 miles

  • Wharton Elementary School

    0.94 miles

  • Saint Rene School

    1.00 miles

  • John C. Dore Elementary School

    1.00 miles

  • Lyon Cub Day Nursery

    1.90 miles

  • Little People Montessori Academy

    2.36 miles

  • Alphabet Learning Center

    3.17 miles

  • Montessori Children's Community

    3.66 miles

  • Gladness V Player Early Childhood Center

    3.68 miles

  • Little People's Country

    3.94 miles

  • Happy Days Child Care Center

    4.06 miles

  • Montessori Children's Place

    4.09 miles

  • Southwest Cooperative Pre-School

    4.96 miles

  • Creative Kids Daycare Center

    5.03 miles

Frequently Asked Questions

How much does 7349 W 57th Street cost?

The space currently listed for sale at 7349 W 57th Street asks for $1,800,000.

What is the total square footage of 7349 W 57th Street?

7349 W 57th Street totals 9,668 square feet.

When was this property built?

7349 W 57th Street was built in 1962.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker
broker
Anthony Citriglia

Essex Realty Group

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.