Cook County, Calumet City, IL 60409

CALUMET CITY, IL | UPDATED CONDO | BUY & HOLD / FIX & FLIP | $40K ASK 500 Park Ave #638, Calumet City, IL 60409 Asking Price: $40,000Estimated ARV: $80,000–$90,000Estimated Rent: $850–$1,050/MonthClosing: November 6th, 2026 Excellent entry-level investment opportunity in Calumet City, Illinois! This recently updated 1-bedroom, 1-bathroom condo offers approximately 900 SQFT of living space in a gated community with desirable amenities. PROPERTY SNAPSHOT • 1 Bedroom / 1 Bathroom• 900 SQFT• Apartment / Condominium• Recently Updated Interior• New Flooring Throughout• Stainless Steel Appliances• Washer & Dryer Included• Gated Community• Community Pool & Tennis Court• HOA / Condo Fee: $370/Month CONDITION & RENOVATION SCOPE • Recently Updated Interior• A/C System Requires Repair• Other Major Systems Reportedly Working• Minimal Additional Cosmetic Work Anticipated• Buyer to Verify Repair Costs & Property Condition RENTAL INCOME POTENTIAL Estimated Monthly Rent: $850–$1,050Estimated Annual Gross Rent: $10,200–$12,600Monthly HOA Fee: $370 Projected rental income before HOA fees, taxes, insurance, maintenance, vacancy, and other expenses. Buyer to verify rental restrictions. WHY INVESTORS SHOULD LOOK • $40K Asking vs. $80K–$90K Estimated ARV• $40K–$50K Potential Gross Spread Before Repairs & Costs• $850–$1,050 Estimated Monthly Rent• Affordable Sub-$50K Acquisition Price• Recently Updated Interior• Stainless Steel Appliances & Washer/Dryer Included• Gated Community With Pool & Tennis Court• HOA Covers Several Property Expenses• Potential Buy & Hold or Fix & Flip Opportunity INVESTOR TERMS Asking: $40,000Estimated ARV: $80,000–$90,000Estimated Rent: $850–$1,050/MonthLayout: 1BR / 1BASize: 900 SQFTCondition: Updated / A/C Repair NeededHOA / Condo Fee: $370/MonthClosing: November 6th, 2026Due Diligence: Buyer to Verify HOA Fees, Rental Restrictions, A/C Repair Costs & Property Condition SUBMIT YOUR HIGHEST & BEST OFFER! Disclosure: We are marketing our equitable interest in a Purchase and Sale Agreement. We are not the owners of the property, and this is not an offer to sell real estate. [representative] participates in transactions as a principal, JV participant, or contractual interest holder where permitted. We do not act as a real estate broker, agent, or fiduciary unless expressly agreed in a separate, written, licensed brokerage agreement. Many opportunities involve assignment, novation, double closing, or other transfers of contractual rights or equitable interests, not the sale of real property by [representative]. Availability of services and required disclosures vary by state, property type, and transaction structure. No outcome, offer volume, pricing, or closing is guaranteed.