ChicagoSouth Side

Board-up bonanza: At $149,900, why not buy the whole three-flat?

by Joseph Askins on 6/3/10

6621 S Ellis Ave, Chicago

This peaked-roof three-flat at 6620 S Ellis Ave in Woodlawn has drywall but needs an HVAC system and finished kitchens and bathrooms. Think it still has its copper? The board-up just dropped in price from $259,900 to $149,900, making it a “great opportunity for a builder or investor,” according to Robert Shutay‘s listing. The new price is lower than the median for individual new-construction homes and multi-unit residential buildings in Woodlawn, but you can still find cheaper three-flats — the graystone at 6401 S Maryland Ave, for example, is listed at $78,750, but also requires a total gut rehab.

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{ 2 comments… read them below or add one }

Manny June 3, 2010 at 11:56 AM

It will be at least 50 years before Woodlawn gentrifies, if ever. Even if the triplex were free, very few buyers would want to move into a high crime, no grocery store, no shopping neighborhood with an alderman that actively discourages commercial development in the neighborhood. Even worse, this place is three blocks outside of the U of C police umbrella.

And I’m not ragging on Woodlawn because it’s a Black neighborhood. East Garfield Park has just as many Black residents, and they’re doing things right–shopping, lower violent crime, no trash on the streets, few vacant lots/abandoned buildings. Woodlawn is just doing everything wrong.

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futuredoc June 3, 2010 at 4:09 PM

Its mind boggling to me why the Uof C won’t take a more active role in gentrifrifying this neighborhood. Once upon a time they had plans for this neighborhood. The U of C should ignore the community activists and the like and continue with their plans because they already own property there. They could make it an extension of hyde Park.

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