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

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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