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AvailableWest Hyde ParkUnit 1G · garden level · owner-occupant resale
823 E 53rd St, Unit 1G
Chicago, IL 60615
Value-add condo opportunity
Full-rehab potential near the University of Chicago.
A one-bedroom, one-bath vintage garden-unit condo in West Hyde Park offered in current condition. Perfect for a flip: an investor can complete the repairs and full rehab, then resell the finished condo to an end buyer who will occupy it as their primary residence. The renovation scope, budget, and timeline should be evaluated by the buyer’s contractor.
Property typeCondo
Bedrooms1
Bathrooms1
Unit1G · garden level
West Hyde Park area spotlight
Major cultural investment, minutes from the front door.
The condo is approximately an eight-minute drive from the newly opened Obama Presidential Center in Jackson Park. It also sits near Hyde Park’s established anchors—the University of Chicago, the Griffin Museum of Science and Industry, 53rd Street shopping and dining, parks, and the lakefront.
Approximate drive from the property
Three-month median sale price through May 2026
Year over year through June 2026
A new global destination
The Obama Presidential Center’s public campus includes a museum, Chicago Public Library branch, gardens, walking trails, public art, recreation, and gathering spaces.
Powerful neighborhood anchors
Choose Chicago describes Hyde Park as culturally rich and bookended by the University of Chicago and the Griffin Museum of Science and Industry.
Documented market momentum
Recent neighborhood-level data shows positive year-over-year value movement, providing encouraging context for a renovated owner-occupant resale strategy.
Area publicity & market references
Independent coverage buyers can reviewTravel time is approximate and varies with traffic. Market figures are neighborhood-level third-party data—not an appraisal, ARV estimate, or guarantee of future value. Buyers should verify current data and property-specific comparable sales.
Working investment snapshot
Start with the known numbers.
Private HSC offering
Working estimate
Before closing and holding costs
Monthly estimate
Recent closed comparables
Three verified nearby one-bedroom condo sales.
Three verified closed sales from the qualifying one-bedroom condo set identified between August 21, 2025 and August 21, 2026, all within an approximate half-mile radius of 823 E 53rd St.
Public MLS-linked records
Before condition adjustments
Three-sale average
Rounded to nearest dollar
| Comparable sale | Closed | Sale price | Size | Price / sq ft | Approx. distance |
|---|---|---|---|---|---|
| 5200 S Ellis Ave #408View on Redfin Amenity building · $745 reported monthly HOA | Jul 7, 2026 | $159,900 | 750 sq ft | $213 | 0.30 mi |
| 1000 E 53rd St #219View on Redfin Same 53rd Street corridor · $953 reported monthly HOA | Feb 26, 2026 | $179,000 | 1,100 sq ft | $163 | 0.23 mi |
| 5107 S Ingleside Ave #3View on Redfin Updated kitchen · sold as-is | Jan 2, 2026 | $125,000 | 900 sq ft | $139 | 0.33 mi |
Subject working basis$94,000$59,000 price + $35,000 rehab
The working basis is shown only for comparison with the observed sale range. It excludes closing, financing, carrying, association, permit, contingency, and resale costs.
Comp limitations: This presentation displays three selected verified sales from the five qualifying public sales identified; it is not the complete qualifying set. No same-building one-bedroom closing was confirmed in the public records reviewed for this 12-month period. These are geographic bedroom/bath matches, not appraiser-selected adjusted comparables. Renovation quality, floor, exposure, parking, association fees and reserves, special assessments, financing eligibility, sale terms, and owner-occupancy restrictions can materially affect value.
Recommended exit strategy
Rehab, then resell to an owner-occupant.
The flip strategy is straightforward: acquire the condo, complete the full renovation, and sell the improved unit to an end buyer who will make it their primary residence. This opportunity is not being marketed or underwritten as a rental property.
Suggested exitFix & flipResell to an owner-occupant
!
The completed condo should be sold to an owner-occupant—not held as a rental.
Investors should review the current declaration, bylaws, rules, buyer-approval process, renovation requirements, and any resale or minimum occupancy provisions before submitting a final offer.
Flip and resale due-diligence checklistBuyer verification required
01Confirm an investor may acquire, renovate, and resell the unitConfirm
02Verify association renovation rules, permits, deposits, and work-hour restrictionsConfirm
03Review the end-buyer approval and owner-occupancy requirementsConfirm
04Confirm any minimum ownership period or resale restrictionsConfirm
Association estimate
What the monthly assessment includes
✓ Heat✓ Water✓ Common insurance✓ Exterior maintenance✓ Scavenger
The stated $400–$500 monthly range and inclusions are preliminary and must be confirmed through current association documents.
Current condition
Rehab scope to validate
- Full interior renovation anticipated
- Ceiling and wall repair visible in current-condition photos
- Kitchen and bathroom replacement should be evaluated
- Electrical, plumbing, and mechanical scope requires contractor verification
- Working rehab budget should include permits and contingency
Property locator
823 E 53rd St, West Hyde Park
The pin identifies the verified building address. This opportunity is Unit 1G on the garden level.
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Buyer due diligence
Property information, pricing, association estimates, rehab assumptions, occupancy requirements, and third-party records are deemed useful for preliminary review but are not guaranteed. Buyers must independently verify the exact unit, title, taxes, association financials and restrictions, condition, permits, square footage, repair scope, owner-occupancy requirements, buyer approval, and all transaction terms.