South Chicago Homes under $500,000

Welcome to South Chicago, a vibrant and historically rich neighborhood nestled within the bustling city of Chicago, Illinois. Known for its strong sense of community and diverse culture, South Chicago offers a unique blend of urban living and suburban charm that appeals to families, young professionals, and everyone in between.

One of the standout features of South Chicago is its affordability, particularly when it comes to housing. With a variety of homes available for under $500,000, this neighborhood presents an excellent opportunity for first-time homebuyers and savvy investors alike. Whether you're searching for a cozy single-family home, a charming bungalow, or a modern townhouse, South Chicago has something to suit every taste and budget.

The area boasts a rich tapestry of parks and recreational spaces, making it perfect for outdoor enthusiasts and families. With nearby attractions like the picturesque Lake Michigan shoreline and the expansive Calumet Park, residents can enjoy a plethora of activities, from leisurely strolls to invigorating sports. The neighborhood is also home to a range of local shops, restaurants, and cultural venues that reflect the diverse heritage of its residents.

South Chicago is well-connected to the rest of the city via public transportation, making commuting a breeze. With its strong community spirit, affordable housing options, and an abundance of amenities, South Chicago is not just a place to live—it's a place to thrive. Discover your dream home in South Chicago today and experience all the charm this neighborhood has to offer!

Newest South Chicago Homes under $500,000

$320,000

4 Beds ⋅ 2 Baths ⋅ 12751380 MLS ⋅ NEW Status

Four bedrooms, three finished levels, two full bathrooms-one phenomenal home with a brand-new roof, gutters and garage siding. The main floor features a spacious living area, an oversized kitchen with new stainless-steel appliances, two bedrooms and a full bath. Upstairs are two additional bedrooms, a second full bath and a separate family room, creating another comfortable living space of its own. The fully finished walk-out basement adds even more flexibility for entertaining, recreation, work or guests. Major improvements continue with newly installed HVAC equipment and water heater, new fencing and fresh tuckpointing. All within walking distance of Eckersall Stadium, neighborhood parks and South Shore Hospital, with Rainbow Beach and the lakefront nearby.

8352 S Phillips Avenue, Chicago

$185,000

6 Beds ⋅ 5 Baths ⋅ 12775692 MLS ⋅ NEW Status

Situated just steps off historic Jeffrey Blvs in the sought-after south shore community, this jumbo 4 unit is a legal 4 unit and has tremendous upside. The building is split with two units in the front, each of the front units mirror each other and are very generously sized with formal living room, formal dining room and two bedrooms per unit with hardwood floors which run throughout both units. The units are in very good shape with limited cosmetic updates needed, these units are turnkey rental ready. The two rear units are smaller one-bedroom units but offer larger living rooms, there is fire damage to the one of the rear units but that makes room for tremendous upside. Add a finished basement with a garden apartment and a 2 car garage this building has great income potential, live in one units, rent the others out or rent them all out while collecting passive income, either way this is a win win situation!

7951 S Clyde Avenue, Chicago

$305,900

4 Beds ⋅ 2 Baths ⋅ 12776689 MLS ⋅ NEW Status

IN 2022 New roof, windows, plumbing, electric, furnace and A/C, water heater, and new two car garage. Were installed, kitchen with granite counter tops in 2022. Living room with electric fireplace. this home is waiting for you .

8041 S Escanaba Avenue, Chicago

$80,000

3 Beds ⋅ 2 Baths ⋅ 12776427 MLS ⋅ NEW Status

8012 S Essex Avenue Unit #3S, Chicago

$315,000

3 Beds ⋅ 3 Baths ⋅ 12775923 MLS ⋅ NEW Status

Beautifully updated 4-bedroom, 3-bath home featuring a bright, modern layout and stylish finishes throughout. The updated kitchen offers white shaker cabinetry, quartz countertops, stainless steel appliances, and plenty of space for entertaining. The home also features an enormous primary suite with a private en suite bath, generously sized bedrooms, and beautifully updated bathrooms. Move-in ready and completely refreshed from top to bottom.

8332 S Oglesby Avenue, Chicago

$359,000

6 Beds ⋅ 2 Baths ⋅ 12775869 MLS ⋅ NEW Status

Prepare to be captivated by this stunning reimagined BRICK two flat that perfectly balances modern sophistication with incredible income potential. From the moment you step inside 9015 S Muskegon Ave, you will notice the sun drenched rooms and the pristine, high quality finishes that elevate every square foot. Each unit serves as a pristine, move in ready sanctuary, boasting expansive layouts that feel open and airy. Whether you are an investor looking to secure a lucrative gem for your portfolio or an owner occupant eager to live luxuriously while generating effortless passive income, this beautifully transformed multi family property stands out as a true neighborhood showstopper. Seller will provide a 2% credit to buyer's closing costs!

9015 S Muskegon Avenue, Chicago

$99,900

1 Beds ⋅ 2 Baths ⋅ 12694669 MLS ⋅ PRICE CHANGE Status

2 BR (1 in basement) Chicago Bungalow. Upstairs BR was removed and could easily be returned to a 3 BR house. LR/Dr combo with hardwood floors, spacious eat in kitchen, enclosed back porch, basement with additional BR , and full bath. Fenced yard and 2 car garage. Close to everything! $5,000 Furnace and A/C credit at closing. Same house (3BR) across the street sold for $240,000. This listing has a 2 car garage and enclosed porch.

7916 S East End Avenue, Chicago

$330,000

9 Beds ⋅ 4 Baths ⋅ 12772409 MLS ⋅ ACTIVE Status

Excellent investment opportunity in the heart of South Chicago! This solid 3-unit building offers strong income potential and long-term value for both seasoned investors and owner-occupants. First floor front unit offers 1 bedroom and 1 bath. First floor rear unit offers 3 bedrooms and 1 bath. While the second floor unit offers 5 bedrooms 1 and half bathrooms, living room and 2 dining rooms, or 2 living rooms and 1 dining room, your choice with the spacious layout with bright living areas. The property provides a versatile setup-live in one unit while renting out the others, or maximize cash flow by leasing all three. The building sits on a quiet, residential block and includes a large backyard space perfect for outdoor enjoyment as the property sits on 3 lots, along with convenient parking options. With separate utilities and well-proportioned units, this property is ideal for easy management and consistent rental income. The roof was done in 2018 and water heaters replaced in the last 3-5 years. Located near schools, parks, shopping, and public transportation, tenants will appreciate the accessibility and neighborhood feel. Easy access to major roadways makes commuting a breeze. In addition to the proximity of only 5 minute drive to QUANTUM SHORE which is a project that is expected to bring thousands of jobs the next decade. Whether you're looking to expand your portfolio or secure a multi-unit property with great upside, this is a fantastic opportunity you won't want to miss!

8757 S Marquette Avenue, Chicago

$250,000

3 Beds ⋅ 1 Baths ⋅ 12767701 MLS ⋅ ACTIVE Status

Classic 3-bed/1-bth all-brick bungalow with a head start on its transformation into your dream home! This partially completed gut rehab has already tackled many of the big-ticket items, including an updated kitchen and bath, new 200-amp electrical service, some new copper plumbing, new drywall in select areas, a new boiler system, refinished original hardwood floors and more. The spacious main level offers plenty of room to bring your vision to life, with a bright living room featuring tons of natural light, a large dining room that opens to the brand-new kitchen with a convenient combo washer/dryer, 3 bedrooms, a full bath and a sunroom. The unfinished attic, accessible by an interior staircase, offers exciting potential for a private primary suite, while the expansive unfinished basement provides excellent storage space or the opportunity to add even more living area. Outside, the beautiful brick exterior, welcoming front porch and gated front yard provide great curb appeal. The backyard features a 2-car parking pad with convenient alley access. Ideally located near major highways, public transportation, grocery stores and everyday conveniences. A great opportunity to take a partially completed renovation and make it truly your own!

7918 S Luella Avenue, Chicago

$479,900

9 Beds ⋅ 7 Baths ⋅ 12771712 MLS ⋅ ACTIVE Status

TURNKEY + VALUE-ADD opportunity in South Shore! REHAB/RENOVATION FINANCING REQUIRED due to the remaining work in the legal garden unit. This is a LEGAL 4-UNIT. Three spacious 3-bedroom, 1.1-bath units have been fully rehabbed with updated mechanicals, new bathrooms, kitchens, flooring and light fixtures. All three units are VACANT and ready to lease at current market rents, allowing the next owner to select their own tenants and start generating rental income immediately. The legal 4th garden unit is a 1-bedroom, 1-bath offering even more rental income once the remaining improvements are completed. The three large upper units are ready to rent and can help support the property's expenses while the final unit is completed. A 3-car garage plus basement common area offer additional income potential through garage parking and coin laundry. An excellent opportunity for an investor or owner-occupant. FHA 203(k), Fannie Mae HomeStyle or other qualifying renovation financing required. Sold As-Is.

8010 S Phillips Avenue, Chicago

$269,000

4 Beds ⋅ 2 Baths ⋅ 12770036 MLS ⋅ ACTIVE Status

Spacious Brick Tudor featuring 4 Bedrooms, 2 full Baths, eat-in Kitchen, large Living Room, full basement with laundry hook-ups, rear deck off kitchen with a really large yard. Garage accommodates 2 cars and has a party door with side car port for a total of 3 parking spaces at the rear. Near a park and half a block from a grammar school. *** HOME HAS AN ALARM ***

8312 S Phillips Avenue, Chicago

$130,000

3 Beds ⋅ 2 Baths ⋅ 12769846 MLS ⋅ ACTIVE Status

Welcome to this charming 3-bedroom, 2-bath home featuring a functional layout and attractive interior finishes. The kitchen offers granite countertops and warm brown cabinetry, while the wood and laminate flooring is in good condition throughout. Additional highlights include replacement windows, a partially finished basement, an electric water heater installed in 2025, and a well-maintained HVAC system. The roof and exterior siding are in good condition with no known damage. One bathroom requires minor plumbing attention, offering a great opportunity to add your finishing touches and make this home your own!

7931 S Muskegon Avenue, Chicago

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