13242 Chicago Street, Detroit, Michigan 48228

$375,000

Property Details

  • MLS#: 20261066026
  • Bedrooms: N/A
  • Bathrooms: 22
  • Square Feet: 14,400
  • Price per Sqft: $26
  • Lot Size: N/A
  • Year Built: 1966
  • Property Type: ResidentialIncome
  • Status: Active
  • Days on Market: 28

Tax and Assessment Information

Assessment evidence unavailable.

Description

***Redevelopment Opportunity*** Offered at $375,000—approximately $17,045 per unit before renovation. Bring new life to this highly visible brick apartment building along Detroit’s West Chicago corridor. The property offers approximately 14,400 square feet of gross building area and is configured with 22 one-bedroom, one-bath apartments across three levels, including the garden level. The substantial masonry structure features a secured perimeter, off-street parking and strong street presence. A newer roof, reported to be in good condition, provides an important head start. Installing mini-split systems could offer a practical approach to modernizing heating and cooling without rebuilding a centralized HVAC system. Gutted to the studs, the building provides a straightforward renovation platform with uniform, nicely sized units and efficient access for the trades. Generously sized bedrooms may potentially support two occupants. Two additional interior spaces offer potential flexibility for resident gathering, community programming, management or other shared uses. One currently houses the interior bank of electrical meters. Relocating those meters outside, as may be required by the utility provider, could open that space for redevelopment. The second may become available if the apartments are developed with in-unit laundry. Vacant and requiring comprehensive rehabilitation, the property presents a compelling opportunity for an experienced investor or development team to restore a sizable multifamily asset, return 22 housing units to productive use and establish meaningful long-term income potential. Offered strictly AS-IS. Buyer and buyer’s agent must independently verify all measurements, unit counts, systems, utility requirements, zoning, permitted uses, property condition, occupancy potential and rehabilitation costs. Any proposed shared space, reconfiguration or occupancy remains subject to all applicable approvals. Same ownership as MLS 20261060857

Location

This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 13242 Chicago Street?

13242 Chicago Street is listed at $375,000, or $26 per square foot.

How many bedrooms does 13242 Chicago Street have?

This property has N/A bedrooms and 22 bathrooms, with 14,400 square feet of living space.

Schedule a Showing

Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.

Phone: (313) 484-4696

Email: [email protected]

Similar Homes for Sale in Detroit

Browse Detroit Real Estate

Real Estate Resources