7847 S Maryland Ave, Chicago, IL 60619

Perfectly positioned in a desirable residential neighborhood, this versatile property offers excellent potential for both investors and owner-occupants. The building currently features a residential apartment upstairs and commercial space on the first floor, making it ideal for a live/work setup or continued mixed-use investment.

The first floor is currently occupied by a hair salon and a separate office space with its own hallway entrance. The second-floor unit operates as a condo-style rental apartment. Both tenants are long-term and currently on month-to-month leases.

Utilities are structured so that the salon pays its own electricity, while the residential unit currently has no utilities charged to the tenant. The building includes washer and dryer hookups.

Outside, the property features a fenced backyard, perfect for entertaining or gardening, along with decorative metal fencing at the front on both sides of the building. A detached oversized garage provides additional storage or workshop space and is in need of cosmetic updates.

Recent improvements include:

• Electric service panel replaced in 2025

• Roof seal coat completed in 2018

• Deck replaced 2 years ago

Additional features:

• Gas cooking in the apartment

• One heater serving the building

• One gas meter for the building

• Slab foundation (no basement)

• Salon has three plumbing outlets, with one currently in use

• Ample street parking

This property is also located within an Opportunity Zone, which may provide additional investment advantages. Grant funding may be available for the property—contact Rick S. at BMO Mortgage for more details.