Chicago Homes under $200,000

Welcome to the vibrant city of Chicago, Illinois, where urban sophistication meets Midwestern charm! Nestled along the shores of Lake Michigan, Chicago is renowned for its stunning skyline, diverse neighborhoods, and rich cultural heritage. From the iconic Willis Tower to the picturesque Millennium Park, this bustling metropolis offers a unique blend of history, art, and entertainment that captivates residents and visitors alike.

For those seeking affordable housing options in the Windy City, there’s good news! Chicago boasts a variety of homes priced under $200,000, making it an attractive choice for first-time buyers, young professionals, and families looking to settle down without breaking the bank. Whether you’re drawn to the historic architecture of the city’s older neighborhoods or the modern conveniences of newer developments, there’s something for everyone.

Explore charming bungalows in the inviting neighborhoods of South Shore or find cozy condos in the bustling heart of Logan Square. Each area offers its own unique vibe, complete with local eateries, parks, and community events that foster a sense of belonging. With a robust public transportation system, commuting to downtown Chicago or other parts of the city is a breeze, ensuring you’re never far from the action.

Investing in a home under $200,000 in Chicago not only provides a fantastic opportunity to own a piece of this dynamic city but also positions you to enjoy all that it has to offer. Embrace the Chicago lifestyle where culture, community, and affordability converge – your dream home awaits!

Newest Chicago Homes under $200,000

$85,000

2 Beds ⋅ 1 Baths ⋅ 12776309 MLS ⋅ NEW Status

ATTEN: INVESTORS & BUILDERS- Prime opportunity to transform this property into a profitable investment or add it to your portfolio! Ideally located near Sherman Park and public transportation, this 2-bedroom, 1-bath home offers plenty of potential for the savvy investor or builder. Property features a full walk out basement, fenced-in yard, and detached garage. The interior has been gutted, providing a clean slate to bring your vision to life. Bring your ideas, creativity, and expertise and unlock the potential of this property! Great opportunity for a flip, renovation project, or investment portfolio addition. See this property today!

5247 S May Street, Chicago

$182,000

3 Beds ⋅ 1 Baths ⋅ 12776323 MLS ⋅ NEW Status

Foreclosure sold with non-paying tenant in place. Price agreed upon by foreclosure. 3 bedroom, 1 bath. Property was inherited and heir does not have access to interior but tenant is known. There are no interior pictures and no other information available. No inspections other than exterior of property. Survey must be paid for buy buyer. CASH ONLY as we do not have interior access. Great opportunity if you are willing to work out a lease or move-out with tenant. Absolutely no access will be granted to the interior unless you can convince the tenant to let you in. No disclosures as seller has no knowledge of condition of home.

8520 S Laflin Street, Chicago

$172,000

1 Beds ⋅ 1 Baths ⋅ 12776175 MLS ⋅ NEW Status

5100 N Sheridan Road Unit #404, Chicago

$130,000

2 Beds ⋅ 2 Baths ⋅ 12776159 MLS ⋅ NEW Status

A Great Opportunity with Endless Potential! Whether you're an investor looking for your next project or a buyer ready to customize a home to fit your vision, this one-story property is worth a look! The main level features 2 bedrooms, 1 full bathroom, a living room, dining room, and kitchen, providing a comfortable layout with plenty of opportunity to make it your own. The home also includes an enclosed back porch, a fenced backyard, and a one-car garage, offering additional space and functionality. The full basement adds even more potential, featuring another full bathroom, a kitchen area, and an additional room that could be used as a bedroom, office, recreation space, or whatever best suits your needs. With its versatile layout, additional living space, and desirable features, this property is full of possibilities and ready for the right buyer to bring their vision to life. Don't miss this opportunity to create something special! Schedule your showing today.

6608 S Claremont Avenue, Chicago

$160,000

1 Beds ⋅ 1 Baths ⋅ 12771801 MLS ⋅ NEW Status

Stop Making Your Landlord Rich. Start Investing in Yourself. In the heart of Woodlawn, this beautifully updated co-op offers approximately 800 square feet of flexible living space and an opportunity to move from renting into ownership. Unlike a condominium, a co-op purchaser generally acquires shares in the corporation that owns the building along with the right to occupy the residence. Here, the monthly assessment includes water, heat and real estate taxes. This oversized one-bedroom offers the potential for a second bedroom, home office, study or guest space, subject to applicable co-op approvals. Recent improvements include updated kitchen cabinetry, stainless-steel appliances, a neutral bathroom, refinished hardwood floors, new windows and refurbished radiators with new valves. Laundry and additional storage are located in the basement. The location is equally compelling-near the University of Chicago and its medical campus, with convenient access to Woodlawn, Hyde Park and the Obama Presidential Center area. For buyers who value space, flexibility and location, this residence offers a practical path to ownership in one of Chicago's most recognizable South Side communities. Rent provides a place to live. Ownership gives you the opportunity to build something for yourself.

6102 S Kimbark Avenue Unit #2W, Chicago

$169,999

2 Beds ⋅ 1 Baths ⋅ 12774387 MLS ⋅ NEW Status

Charming Cape Cod full of potential, this cozy home sits on a beautiful lot with a spacious, fully fenced backyard and enclosed porch. Featuring 3 bedrooms plus a huge unfinished attic area that can be used for a master closet, home office, storage, or whatever suits your needs. The heated garage offers convenient access from inside the home and through the porch. Large backyard includes a shed for additional storage. A great opportunity for buyers looking for space, flexibility, and affordability.

7025 W 73Rd Place, Chicago

$77,000

2 Beds ⋅ 1 Baths ⋅ 12774408 MLS ⋅ NEW Status

Large 1.5 story Classic Brick Bungalow located in the Auburn Gresham neighborhood of the City. Features generous room sizes, beautiful Leaded Glass Bay Windows in the Living Room, formal Dining Room, Eat-In Kitchen, finished Attic, enclosed rear Porch, full unfinished Basement, fenced Yard and a 2 Car detached Garage off the Alley. Close to Shopping, Dining, Transportation, Parks and the Dan Ryan Woods. HUD Case 137-532578, Insured Status: UI (Uninsured). HUD owned Property. The Seller Is selling this property in "AS IS" condition. Seller nor its representatives make any representations or warranties regarding the property.

8119 S Wolcott Avenue, Chicago

6464 N Northwest Highway Unit #1E, Chicago

$122,500

1 Baths ⋅ 12775895 MLS ⋅ NEW Status

Rarely available! Large, Bright studio in excellent and convenient Edison Park location. Modern white kitchen with granite countertop. Hardwood floor in living room. Laundry on the same floor. One assigned parking and visitors parking available. Minutes to the Kennedy Expressway, (I-90), the Harlem Ave. Next to Norwood Park Metra stations to Chicago. Walk to all downtown Edison Park shopping, restaurants and specialty shops! Sliding glass doors from the living room to the 15' x 5' Large balcony. Sale AS IS. Great unit ready for you. Investors welcome.

6464 N Northwest Highway Unit #1E, Chicago

$175,000

3 Beds ⋅ 2 Baths ⋅ 12775973 MLS ⋅ NEW Status

SHORT SALE OPPORTUNITY. Discover the potential of this charming brick bungalow nestled on a serene block. Perfectly positioned near transportation and the expressway, this property offers a prime location for your next project. While it requires rehabbing, hidden beneath the carpet are hardwood floors waiting to be restored. Sold AS-IS, this home presents a unique opportunity for those with vision and expertise. The possibilities for transformation are endless. Bring your creativity and make this bungalow your own. Schedule a showing today.

8644 S Chappel Avenue, Chicago

$175,000

1 Beds ⋅ 1 Baths ⋅ 12775829 MLS ⋅ NEW Status

Vintage Gold Coast charm meets city convenience in this inviting 1 bedroom, 1 bath condo. Hardwood floors and high ceilings throughout, while the open main living area offers plenty of space for a dining table or home office set up. The kitchen features a peninsula with breakfast bar for additional counterspace. The bedroom has a large window and the updated full bath features a soaking tub plus window for added ventilation. The building offers low assessments along with a bike room. Leased parking is available nearby. Ideally located just blocks from the shopping and dining of Oak and Rush Streets, with Oak Street Beach, Lake Shore Drive, the Brown and Red Lines, and multiple bus routes all easily accessible. Enjoy the best of Gold Coast living with everything you need right outside your door!

20 E Goethe Street Unit #206, Chicago

1937 W Pratt Boulevard Unit #2N, Chicago

$165,000

1 Beds ⋅ 1 Baths ⋅ 12775722 MLS ⋅ NEW Status

Charming 1-bedroom, 1-bathroom unit that's truly move-in ready! Beautiful Brazilian cherry hardwood floors run throughout the entire home, and a parking space adds incredible value in this area. The unit has been freshly painted and features new appliances. Enjoy morning walks with your dog at Warren Park just across the street, or relax with your summer coffee on the spacious back deck. Whether you're searching for a place to call home or a smart investment opportunity, this one is a must-see. Explore the property in 3D-click the 3D button to take a virtual tour and experience every detail.

1937 W Pratt Boulevard Unit #2N, Chicago

3440 N Lake Shore Drive Unit #3C, Chicago

$169,000

1 Beds ⋅ 1 Baths ⋅ 12775669 MLS ⋅ NEW Status

Rarely available and fabulous Investor friendly opportunity!! This one-bedroom has views of the lakefront and Belmont Harbor. Exceptionally maintained building with 24-hour door staff, onsite maintenance and management, storage lockers, newly renovated large laundry room, and exercise room. This is a full service "concierge type building". The building is in great condition having replaced elevators, risers, and windows. Monthly assessment includes heat, air conditioning, internet, and cable. Rental garage parking available in the building for $230 per month. Steps to all things amazing!!!

3440 N Lake Shore Drive Unit #3C, Chicago

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