For Sale at Observatory: 4537 S Drexel Boulevard #203, Chicago, IL 60653. 1-bedroom 1-bath, 900 sf, 2004 KENWOOD $185,000 begin new search
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Overview

Investor Special!!! Turnkey income-producing opportunity in the highly sought-after historic Drexel Boulevard corridor. This spacious 1-bedroom, 1-bath condominium offers wood-finish flooring throughout, a cozy fireplace, a large bathroom with dual vanities, and an efficient layout that appeals to long-term tenants. The well-maintained building features secure fob entry, an assigned exterior parking space, and low HOA dues. The unit is currently leased to an excellent long-term tenant paying $1,750 per month through March 1, 2027, providing immediate, stable cash flow from day one with no vacancy concerns. Seller is also offering a $2,500 appliance credit, allowing the new owner or future occupant to update the appliances to their personal preference while adding value to the property. A professionally managed, investor-friendly building that allows rentals, making this a rare opportunity to acquire a turnkey asset with immediate income and future upside.

Address 4537 S Drexel Boulevard

Unit# 203


Chicago, IL 60653
Listing Status NEW
Asking Price $185,000
On Market Date $185,000 @ Sep 16, 2026
Original Entry Sep 16, 2026
Rooms
No additional rooms
Square Footage 900 sf
Bedrooms 1
Full Bathrooms 1
Location
Directions 46th left on to Drexel Blvd.
Neighborhood KENWOOD
Complex Observatory
School District Not Listed
Ownership
Property Type Condo
Assessment $448
Listing History
Timeline Notes
Sep 16, 2026Listed for $185,000 #MRD12760987
Public Records
County Cook
Tax PIN 20023120541004
Property Tax $3,135 for the year 2024
Lake Michigan Distance 0.8 miles
Exterior
Style Attached Single
Material Not Listed
Lot Size CONDO
Fencing Not Listed
Topography Not Listed
Entry Steps 2
Swimming Pool Not Listed
Parking
Assigned
Yes
Total Spaces: 1
Garage Spaces: 0
Non-Garage Spaces: 0 -
View Not Listed
Features
Year Built 2004
Laundry Location In Unit
Elevator Not Listed
Cooling Central Air
Heating Natural Gas
Sewer/Septic Public Sewer
Fireplaces Not Listed (1)
Additional Parcels No
Appliances No
Assessments No
Association No
Association Fee 2 0
Association Fee Frequency Monthly
Attached Garage No
Basement None
Below Grade Finished Area 0
Carport Spaces 0
Cooling No
Heating No
High School District 299
Land Lease No
Laundry No
Living Area Source Estimated
Main Level Bathrooms 0
Main Level Bedrooms 0
New Construction No
Number Of Units Total 0
Number Remotes 0
Parking No
Patio No
Pool Private No
Property Attached No
Sprinklers No
View No
Well Depth 0
Well Gallons Per Minute 0
Well Pump Horsepower 0
Well Report No
Monthly Payment Calculator
Listing Source
Platform MRED
AOR
MLS Number MRD12760987
Courtesy of LPT Realty LLC