Summit Homes under $500,000

Welcome to Summit, Illinois—a charming village nestled in the heart of Cook County, where small-town charm meets urban convenience. With its rich history, friendly community, and diverse culture, Summit is an ideal place for families, young professionals, and anyone looking to find their perfect home just a stone's throw away from the bustling city of Chicago.

Summit boasts a variety of amenities that cater to residents of all ages. Enjoy the lush green spaces and parks that dot the area, perfect for picnics, outdoor sports, or simply soaking up the sun. The village is also well-connected through public transportation, making commuting a breeze for those who work in the city. Local shops, restaurants, and entertainment options abound, ensuring that you'll never run out of things to do.

For homebuyers seeking affordable options, Summit stands out with a range of charming homes available for under $500,000. Whether you're looking for a cozy single-family residence, a modern townhome, or a spacious multi-family property, the real estate market here offers a variety of choices to suit your lifestyle and budget. Many homes feature unique architectural details, spacious yards, and inviting interiors, providing the perfect backdrop for your new life in Summit.

Don't miss the opportunity to become part of this vibrant community. With its affordable housing options, convenient location, and welcoming atmosphere, Summit, Illinois is ready to welcome you home! Explore the listings today and discover the possibilities that await you in this delightful village.

Newest Summit Homes under $500,000

$369,000

5 Beds ⋅ 2 Baths ⋅ 12773378 MLS ⋅ ACTIVE Status

HOUSE HACK OPPORTUNITY! Live in one unit while the rent from the other helps with your mortgage. One unit is already occupied, and the other is expected to be vacant by closing, giving the new owner a chance to move right in. Whether you're buying your first multi-unit, looking for extra rental income, or simply want two separate living spaces, this property gives you options. This well-kept 2-unit also has HVAC updates completed in 2023 and an updated electrical panel for the first-floor unit. Close to shopping, transportation, major roads, and everyday conveniences. At this price, this is one you'll want to see in person.

7507 W 58Th Street, Summit

$279,999

3 Beds ⋅ 1 Baths ⋅ 12773479 MLS ⋅ ACTIVE Status

Welcome to 7304 W 59th St in Summit! This 3-bedroom, 1-bath home offers a great opportunity for buyers looking for a well-located property with valuable recent improvements and the option to purchase additional land. Major updates include the roof, A/C, and furnace, all replaced within the last five years, providing added peace of mind for the next owner. The home features a functional floor plan with comfortable living space, three bedrooms, one full bathroom, and a detached 2-car garage offering plenty of room for parking and additional storage.What truly sets this property apart is the adjacent lot, which is also available for purchase. The home is offered at $279,999, while the adjacent lot is available separately for $89,999. Buyers have the flexibility to purchase the home on its own or purchase both parcels together, creating a unique opportunity for additional outdoor space, future possibilities, or investment potential.Conveniently located near schools, parks, shopping, dining, transportation, and major roadways. Whether you're looking for your next home, an investment opportunity, or a property with the option to acquire additional land, this one offers plenty of possibilities. Schedule your private showing today!Buyer and buyer's agent to verify all information, including square footage, lot dimensions, room sizes, and property details.

7304 W 59Th Street, Summit

$349,000

2 Beds ⋅ 2 Baths ⋅ 12772637 MLS ⋅ ACTIVE Status

Welcome to 7440 W 57th Place in Summit! This move-in-ready home has nothing left to do but unpack. Step inside to an open-concept layout where the living room, dining area, and eat-in kitchen flow together, great for everyday living and entertaining. The kitchen is the showpiece, with beautiful custom-made cabinets and stainless steel appliances. The main level offers 2 bedrooms, and the finished basement adds valuable extra living space. With 2 full baths, there's room for everyone. Outside, enjoy a spacious deck overlooking beautifully landscaped grounds, plus a 2-car garage. The attic has room to expand, so you can build an addition as your needs grow. This is a perfect starter home in a convenient Summit. The is location near the expressway and many amenities near by.

7440 W 57Th Place, Summit

$269,900

3 Beds ⋅ 2 Baths ⋅ 12769073 MLS ⋅ ACTIVE Status

Looking for old school charm? This 3 bedroom, 1 1/2 bath cape cod has what you're looking for. 2 bedrooms and a rare, unique, 1/2 bath upstairs. Throughout this home you will find stunning arched doorways, original woodwork, and hardwood floors throughout. The full, unfinished basement provides endless storage or a new home-improvement project. Backyard includes deck and pool, perfect for entertaining. Access a newer constructed garage ( 8 years ago) from the alley. Relatively new updates include roof 3 years, HWH 5 years, and windows 7 years. Estate Sale, being sold "as is".

7220 W 59Th Street, Summit

$449,900

6 Beds ⋅ 3 Baths ⋅ 12768268 MLS ⋅ ACTIVE Status

**LIVE IN ONE, RENT THE OTHER - OR ADD A COMPLETELY TURNKEY 2-UNIT TO YOUR INVESTMENT PORTFOLIO! Extensively renovated in 2026, this impressive 6-bedroom, 3-full-bath 2-Unit property offers an incredible opportunity for investors, landlords, or owner-occupants looking to house hack. With the major work already completed, this property is ready for you to move in, place your tenants, and start enjoying the benefits! Situated on a corner double lot that is fully fenced all around, the property offers an abundance of outdoor space, a 2-car detached garage, and new concrete walkways. Unit 1 features 2 bedrooms, a spacious living room, and 1 beautifully renovated full bathroom with a bathtub. The remodeled kitchen is finished with white soft-close cabinetry, quartz countertops, new stainless-steel appliances, and an exhaust vented to the exterior. Additional finishes include ceramic tile flooring, abundant recessed can lighting and stylish LED fixtures, new trim and baseboards, closet shelving, and new 2-panel interior doors. Unit 2 offers an impressive multi-level layout with 4 bedrooms, 2 full bathrooms, and 2 living areas. The second level features a spacious living room, remodeled kitchen with white soft-close cabinetry, quartz countertops and new stainless-steel appliances, 2 bedrooms, and a renovated full bathroom with a bathtub. Head upstairs to find a second living area, 2 additional bedrooms, and another beautifully finished full bathroom featuring a walk-in shower with glass doors. Hardwood flooring, new 2-panel interior doors, recessed can lighting, and modern LED fixtures continue throughout the unit. The extensive 2026 renovation goes well beyond cosmetic updates and includes a NEW ROOF, ALL NEW WINDOWS, NEW ELECTRICAL, NEW PLUMBING, 2 FURNACES, 2 Newly Installed Water Heaters, CENTRAL AIR FOR BOTH UNITS, DRAIN TILES, RENOVATED KITCHENS & BATHROOMS, NEW FLOORING, & smoke & carbon monoxide detectors installed in the required locations. Each unit is separately equipped with its own electrical breaker panel, gas meter, & laundry hookup, providing added convenience & functionality for both rental ownership & owner occupancy. Whether you're looking to house hack & use rental income to help with your mortgage, expand your rental portfolio, or own a beautifully renovated multi-unit property, this one checks the boxes. The hard work has already been done - move in and start taking advantage of the opportunity! The location adds even more convenience, with close proximity to I-55 and Harlem Avenue providing easy access to Chicago and surrounding suburbs. Nearby schools, parks, public transportation, grocery stores, shopping, local dining options, and convenient access to Chicago Midway International Airport make this a great location for commuters and everyday living. Schedule your private showing today - an extensively renovated multi-unit opportunity like this is one you don't want to miss!**

7600 W 61St Street, Summit

$389,000

5 Beds ⋅ 2 Baths ⋅ 12761977 MLS ⋅ ACTIVE Status

Exceptional fully renovated home located in the quiet and highly desirable Summit community. Every detail of this property has been thoughtfully updated with quality craftsmanship and high-end finishes. All renovations have been completed in full compliance with municipal requirements, approved permits, plans, and inspections, providing confidence, safety, and long-term value. Designed with both comfort and functionality in mind, the home features a spacious open-concept living and dining area that creates a bright and welcoming atmosphere, perfect for everyday living and entertaining. With five generously sized bedrooms featuring closets, plus the flexibility of a potential sixth bedroom or additional living space, this home offers plenty of room to accommodate a variety of lifestyles. The stunning modern kitchen is the heart of the home, featuring brand-new custom cabinetry, new stainless steel appliances, elegant stone countertops, and a large center island ideal for cooking, dining, and gathering with family and friends. Additional improvements include an entirely new plumbing system, updated electrical system, new flooring throughout, abundant natural light, and recessed lighting. The home's structure has been reinforced with new steel support columns built to municipal standards, while the front porch and entrance stairway have been tastefully renovated to enhance both curb appeal and durability. The property also features a detached two-car garage and is ideally situated in a quiet residential neighborhood with convenient access to schools, parks, shopping, restaurants, major highways, and public transportation. This is a truly move-in-ready home where quality construction, modern design, and exceptional attention to detail come together to create an outstanding opportunity for its next owner.

7424 W 57Th Place, Summit

$310,000

3 Beds ⋅ 1 Baths ⋅ 12698195 MLS ⋅ ACTIVE Status

Here is what you've been looking for! Fantastic opportunity for first-time homebuyers or anyone looking for extra outdoor space! This 3-bedroom brick ranch includes the adjacent lot with its own separate PIN, offering an extra-large yard and plenty of possibilities. Freshly painted throughout, the home features hardwood floors in the living room and all three bedrooms, new light fixtures in the bedrooms, central A/C, 100-amp circuit breaker service, a full basement, and an extra-large detached 2-car garage with plenty of space for vehicles, tools, projects, and storage. The property is located directly across from beautiful Legion Park and just around the corner from Otis P. Graves Elementary. Convenient access to restaurants, shopping, and services along the Harlem corridor, plus quick access to I-55 and Chicago Midway International Airport. A wonderful opportunity with extra space and potential-come make it your own!

7226 W 60Th Place, Summit

$474,900

5 Beds ⋅ 3 Baths ⋅ 12730167 MLS ⋅ ACTIVE Status

5436 S 73Rd Court, Summit

$389,000

3 Beds ⋅ 3 Baths ⋅ 12731645 MLS ⋅ PRICE CHANGE Status

A fantastic opportunity to establish your dream home, in this completely renovated residence, ideally situaded on a beautiful double size lot. The inviting open concept layout features a spacious combined living, dinning room and kitchen area perfect for entertaining and everyday living. with plenty of space to make it your own, this home is just waiting for your personal touch and wonderful decorating ideas!. ****Following the issues identified during the Village of Summit inspections, all required items have been addressed and taking care of****

5441 S Hunt Avenue, Summit

$430,000

5 Beds ⋅ 2 Baths ⋅ 12716108 MLS ⋅ ACTIVE Status

MUST SEE GORGEOUS BRICK TWO UNIT PROPERTY. FIRST UNIT OFFERS 2 GOOD SIZE BEDROOMS & SPACIOUS BATHROOM, UPDATED KITCHEN WITH GOOD CABINETS AND GRANITE COUNTER TOPS. NEW PORCELAIN FLOORS THROUGHOUT THE UNIT. SECOND UNIT OFFERS 3 GOOD SIZE BEDROOMS AND ONE BATH, UPDATED KITCHEN WITH GOOD CABINETS AND GRANITE COUNTER TOPS. LAMINATE FLOORING THROUGHOUT THE UNIT. BOTH UNITS HAVE SEMI NEW APPLIANCES. BOTH WATER HEATERS ARE A FEW YEARS OLD. THE BEST PART CENTRAL AIR FOR BOTH UNITS. THE ROOF WAS INSTALLED IN 2022, TUCK POINTING 2026. TWO CAR GARAGE THAT IS NOT INCLUDED IN THE TENANTS LEASE.GREAT LOCATION YOU HAVE HARLEM, ARCHER AVE AND I55 AROUND THE CORNER.

5320 S 73Rd Avenue, Summit

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