$230,000

387 Madison Avenue, Calumet City, IL 60409

6 beds |
4 baths

Multi-Family Home
Built in 1972
4,792sqft lot
2 car garage
$——/sqft
Listed 2 months ago

Property Description

ATTENTION INVESTORS & REHABBERS Rare opportunity to acquire a solid brick 2-unit building featuring spacious 3-bedroom, 1.5-bath units with functional layouts and generous living space. The property also includes an unfinished basement with excellent potential for additional storage or future expansion, along with a detached 2-car garage. This is a true value-add opportunity ideal for investors or savvy buyers looking to build equity. The property requires repairs and the buyer will be responsible for addressing existing village violations, making it perfect for those ready to take on a rehab project with strong upside potential. This is a short sale and is subject to lender approval. Property is being sold as-is, and timelines may vary based on bank review. With solid brick construction, large units, and income potential, this property presents a great opportunity to create a strong long-term investment or cash-flowing asset once stabilized.

Listing Status:: Active
Data Last Updated:: April 3, 2026 at 7:18AM
Listing Office:: Coldwell Banker Realty : 708-424-4000
Listing Agent:: Terrence Johnson : 708-424-4000
MLS ID:: 12558779

Basement: UnfinishedFull
Heating: Natural Gas

Parking: YesGarage OwnedDetachedGarageParking spaces: 2

HOA Amenities: CurbsSidewalksStreet LightsStreet Paved
Originating MLS: mred
School District: 149
County: Cook

Zoning: MULTI29121190050000

Water: Lake Michigan
Sewer: Public Sewer

Source: mred
Ownership: Fee Simple

This listing courtesy of Terrence Johnson , Coldwell Banker Realty

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

Diekman Elementary School

15121 Dorchester Ave, Dolton, IL, 60419

Grades PK-6

0.58 miles away

School of Fine Arts

1650 Pulaski Rd, Calumet City, IL, 60409

Grades 7-8

0.76 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.