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0 Beds
4,975 sqft

$850,000

548 E 61st Street, Chicago IL, 60637

Price per sqft$170.85
Built in1923
Property size4,975 sqft
Property typeOther
Listed by Taneisha Naylor with Park Place Realty Group LLC 773-965-1428

Overview

Active

New

Listed Oct 7, 2026

Updated 22h ago

A RARE FIND ON 61ST STREET! This versatile mixed-use 3-unit property is more than a building-it offers limitless possibilities for the savvy entrepreneur or investor. Currently generating income from multiple uses, this property offers the unique opportunity to live in, operate, lease, expand, or reimagine the space to fit your investment strategy. Walking distance to Obama Presidential Center, University of Chicago, and UChicago Medicine, the property offers a compelling location for short-term guests, residents, and entrepreneurs. The first-floor commercial space currently operates as a 4.9-star Airbnb, with furniture and furnishings included. Recently renovated, it features touchless faucets, an LED vanity mirror with Bluetooth/anti-fog technology, a Bluetooth-enabled LG range, and new LG appliances. Smart locks, USB outlets, and 2025 entry doors add modern convenience and security. The first floor is a flexible commercial space that could be utilized as an event space, restaurant, liquor store, or residential expansion, including a potential duplex with the basement. The second floor features a 4-bedroom, 2-full-bath income-producing shared co-living space. The second and third floors each feature a gas fireplace and private balcony. Each floor has in-unit laundry, central air conditioning, a Nest thermostat, and its own hot water heater. Major improvements include a roof approximately 4 years old, windows replaced in 2022 and 2025, furnaces replaced within the last 5 years, a new garage door in 2025, and new entry doors in 2025. All furnishings in the co-living space, most furniture in the Airbnb, all appliances, and a home warranty are included. Whether you're an investor seeking multiple income streams, an entrepreneur looking for a commercial space with built-in income potential, or a buyer looking for a property that can evolve with your vision, this property offers the rare combination of current cash flow potential and a property primed for its next chapter.

$5,655/mo

Est. mortgage payment based on a $850,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
12775307

Interior Features

Bedrooms
0
Fireplace
Yes
Cooling
Yes
Basement
No

Exterior Features

Lot Size
0.06 Acres

Other Property Details

Taxes
$3,010
Tax Frequency
Annually
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Listed by Taneisha Naylor with Park Place Realty Group LLC 773-965-1428

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than The Wexler Gault Group are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 10/9/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. Properties displayed may be listed or sold by various participants in the MLS. Properties displayed may be listed or sold by various participants in the MLS.

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Data is refreshed every 3 hours. Listing last updated 6:44 AM UTC on 10/9/2026. 

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