South Chicago Homes under $500,000

Welcome to South Chicago, a vibrant neighborhood steeped in history and culture, nestled within the bustling city of Chicago, Illinois. Known for its rich industrial past, South Chicago is a community that is evolving, offering residents a unique blend of urban living and suburban charm. With its close proximity to Lake Michigan, residents can enjoy beautiful waterfront parks and recreational activities, making it an ideal spot for families and outdoor enthusiasts alike.

One of the most appealing aspects of South Chicago is the affordability of its housing market. Here, you can discover a variety of homes priced under $500,000, presenting an excellent opportunity for first-time buyers, families, or investors looking to capitalize on the area's growth. From classic brick bungalows to modern townhomes, the architectural diversity reflects the neighborhood's character and heritage. Many homes feature spacious yards, perfect for gatherings or simply enjoying a serene afternoon.

The community is served by a range of amenities, including local shops, restaurants, and schools, all contributing to a welcoming atmosphere. The nearby Metra train station ensures a convenient commute to downtown Chicago, making it easy for residents to enjoy the hustle and bustle of the city while returning to the tranquility of their South Chicago homes.

Whether you’re seeking a cozy starter home or a larger space for your growing family, South Chicago offers a range of options that cater to various lifestyles and budgets. Come explore this hidden gem and discover why so many are choosing to call South Chicago home!

Newest South Chicago Homes under $500,000

$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

$149,900

1 Beds ⋅ 2 Baths ⋅ 12694669 MLS ⋅ NEW 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 ⋅ NEW 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 ⋅ NEW 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 ⋅ NEW 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

$299,999

7 Beds ⋅ 2 Baths ⋅ 12767626 MLS ⋅ ACTIVE Status

Classic Chicago brick two-flat with arched windows and original decorative brickwork, updated inside and ready for its next owner. With 7 total bedrooms across two full-floor units, this building works equally well as a turnkey investment or an owner-occupied home with rental income to help cover the mortgage. Both units have been refreshed with wood-look laminate flooring throughout, fresh neutral paint, and updated baths, and every room gets natural light from oversized windows. The 4-bedroom, 1-bath unit and the 3-bedroom, 1-bath unit each have their own kitchen with a stainless gas range, vented range hood, mosaic tile backsplash, dark stone-look countertops, and tile flooring. One kitchen has soaring ceilings. Both bathrooms feature new vanities and tiled tub surrounds. Out back, each level has its own private deck or porch overlooking a large fenced yard with a mature shade tree, a rare amount of outdoor space for a city two-flat. The 4-bedroom unit is rented at $1,600/month. The owner currently occupies the 3-bedroom top-floor unit, which will be delivered vacant, so a buyer can move right in or rent it out at an estimated $1,500/month. That's projected rent of $3,100/month ($37,200/year) with the updates already done. Schedule your showing today.

8307 S Burley Avenue, Chicago

$140,000

4 Beds ⋅ 2 Baths ⋅ 12765892 MLS ⋅ ACTIVE Status

Welcome to 7946 S. MUSKEGON AVE, Great opportunity Two-unit apartment complex with 2 bedrooms in each unit. At this price you can take advantage of a low mortgage allowing the rental income to help. The Basement also offers potential living space. Located In the South Shore neighborhood on Chicago's southeast side, offering convenient access to local parks, lakeshore recreation, and casual neighborhood restaurants. Conveniently located near transportation, such as South Shore Station and 79th St Bus transit. Easy to show, all offers are welcomed.

7946 S Muskegon Avenue, Chicago

$349,000

5 Beds ⋅ 2 Baths ⋅ 12765657 MLS ⋅ ACTIVE Status

5 Bedrooms | Brick Bungalow | Finished Basement Beautifully rehabbed brick bungalow on a classic, tree-lined Chicago block - move-in ready from top to bottom, with thoughtful updates throughout and space to spare. This spacious 5-bedroom home offers a versatile layout: three bedrooms on the main floor plus a formal living room and separate dining room, ideal for entertaining or multi-generational living. Upstairs, two additional bedrooms perfect as a primary suite or private retreat. The kitchen is the showstopper: crisp white shaker cabinets, quartz countertops, subtle two-tone subway tile backsplash, and a full stainless steel appliance package including a gas range, over-the-range microwave, dishwasher, and a French-door refrigerator with bottom freezer drawers. A matte black pull-down faucet adds a modern touch. Bedrooms throughout feature refinished hardwood and durable wood-look laminate flooring, deep closets, and fresh neutral paint with crown molding accents. The updated bathroom offers a spa-like feel with a marble-look tiled tub surround, floating-style vanity, and matte black fixtures. The finished basement extends your living space with sleek, easy-care painted concrete flooring, recessed lighting, a full closet, and a dedicated laundry area already plumbed and fitted with a nearly new Midea washer and dryer set. A rear enclosed porch off the back stairs offers a practical mudroom-style entry to the fenced backyard, which features mature shade trees and a private paved parking pad off the alley. Mechanicals have been updated too, including a newer high-efficiency AC condenser. The exterior is classic Chicago brick with a charming dormer roofline, updated windows, and a monitored alarm system already in place. Set on a quiet block lined with mature trees and well-kept brick bungalows, close to shopping, dining, transit, and parks - this one checks every box.

8340 S Paxton Avenue, Chicago

$109,900

3 Beds ⋅ 2 Baths ⋅ 12764495 MLS ⋅ ACTIVE Status

LOOKING FOR A GREAT INVESTMENT!!!! HOME IN CUL-DE-SAC. Newer laminated floors throughout and some new walls and painting done. THREE BEDROOMS AND ATTIC CAN POSSIBLY BE A FOURTH. TWO BATHROOMS, KITCHEN WITH TABLE SPACE AND A DINING ROOM. FENCED YARD AND HOME IS CLOSE TO SCHOOLS, LAKE SHORE DRIVE, METRA TRAIN STATION AND EPIC ACADEMY.

8237 S Burley Avenue, Chicago

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