7318 W Archer Ave

$349,880
Price
4
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Well-maintained all-brick two-flat in a prime Summit location just off Archer Avenue, priced to move and full of upside. Zoned R-4 with B-2 overlay potential, this is a rare opportunity to own a flexible property in a high-demand pocket-ideal for investors or live-in owners. Each unit offers 2 bedrooms, 1 bathroom, a four-season front room, updated kitchens with stainless steel appliances and dishwashers, and separate private laundry. The building has been thoughtfully upgraded with copper plumbing,...Well-maintained all-brick two-flat in a prime Summit location just off Archer Avenue, priced to move and full of upside. Zoned R-4 with B-2 overlay potential, this is a rare opportunity to own a flexible property in a high-demand pocket-ideal for investors or live-in owners. Each unit offers 2 bedrooms, 1 bathroom, a four-season front room, updated kitchens with stainless steel appliances and dishwashers, and separate private laundry. The building has been thoughtfully upgraded with copper plumbing, separate forced-air heating with central air, and tenants pay all utilities except water. The upper unit is leased through 2026, but the tenant is open to early move-out for an owner-occupant buyer. The lower unit is vacant and ready to go, perfect for immediate occupancy or rental. Off-street parking available through the Village of Summit with permit. Whether you're looking to generate immediate income, house hack, or convert to a hybrid commercial use-this one checks all the boxes. Property is being sold AS-IS. Bring your vision, and act quickly-opportunities like this don't last.

Property Details for 7318 West Archer Avenue

Area
Summit
Township
Lyons
Ownership
Fee Simple
Num Of Parking Spaces
8.0
Parking Included in Price
No
Heat/Fuel
Natural Gas, Forced Air, Baseboard
LISTING UPDATED: 11/09/2025 12:06 AM

Property Details for 7318 West Archer Avenue

StatusActive
MLS #12398404
Days on Market127
Taxes$8,256 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 2 Flat
Year Built1923
Lot Size-
CountyCook County
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Building Information for 7318 West Archer Avenue

Stories-Residences2Year Built1923Building Size-Lot Size-

Payment Calculator

$2,521 per month

30 year fixed, 6.845% Interest

Principal and Interest

$1,833

Property Taxes

$688

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7318 West Archer Avenue

General Information
School Information
  • Elementary School District: 104
  • High School District: 217
  • High School: Argo Community High School
  • Middle Or Junior School District: 104
Addtl Parking Information
  • Parking Details: Off Street, Yes, Other
Property Information
Interior Features
  • Num Of Rooms: 11
  • Bedrooms Total: 4
  • Bedrooms (Below Grade): 0
  • Community Features: Sidewalks, Street Lights, Street Paved
  • Bath Amenities: Separate Shower
  • Basement Type: None
  • Bedrooms Possible: 4
  • Basement Bathrooms: No
  • # Full Baths in Building: 2
  • # Half Baths in Building: 0
  • Room Type: Den
  • Num of Baths: 2.0
Exterior Features
  • Fencing: Fenced, Chain Link
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Lake Michigan
  • Utilities: Cable Available
Property/Lot Information
  • Exterior Property Features: Lighting
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2024
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Description: Corner Lot, Landscaped Professionally
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 29.9X125.5X29.9X125.6
  • Total # Units in Building: 2.0
  • Waterfront: No
  • Construction: Vinyl Siding, Brick
  • General Information: School Bus Service,Commuter Bus,Interstate Access
  • 3 Br Un In Bldg: No
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 20
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: Image360+realtor
  • Virtual Tour YN: Yes
Multi Family
Unit 1
  • Unit Type Actual Rent: $1,325.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 07/25
Unit 2
  • Unit Type Actual Rent: $1,400.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: 05/26

Property History for 7318 West Archer Avenue

DateEvent & SourcePriceAppreciation
Aug 4, 2025

Listed (Active)

MRED #12398404

$349,880
Jul 24, 2025

Contingent

MRED #12398404

Jul 6, 2025

Listed (Active)

MRED #12398404

$349,880
Mar 29, 2025

Cancelled

MRED #12212234

$324,999
Mar 5, 2025

Listed (Active)

MRED #12212234

$374,999
Mar 5, 2025

Contingent

MRED #12212234

Mar 4, 2025

Temporarily Off Market

MRED #12212234

$324,999
Dec 8, 2024

Listed (Active)

MRED #12212234

$374,999
Dec 23, 2020

Sold

MRED #10929233

$200,000
Dec 8, 2020

Pending

MRED #10929233

Nov 7, 2020

Listed (Active)

MRED #10929233

$239,900
Feb 16, 2012

Cancelled

MRED #07633128

$240,000
Nov 15, 2011

Listed (Active)

MRED #07633128

$279,000
Sep 9, 2010

Cancelled

MRED #07163633

$279,000
Mar 18, 2009

Listed (Active)

MRED #07163633

$550,000
Feb 23, 2009

Cancelled

MRED #06858786

$550,000
Jun 18, 2008

Listed (Active)

MRED #06858786

$550,000
Apr 11, 2008

Cancelled

MRED #06819586

$550,000
Mar 5, 2008

Listed (Active)

MRED #06819586

$650,000
DateEvent & SourcePrice
08/04/2025

Listed (Active)

MRED #12398404

$349,880
07/24/2025

Contingent

MRED #12398404

07/06/2025

Listed (Active)

MRED #12398404

$349,880
03/29/2025

Cancelled

MRED #12212234

$324,999
03/05/2025

Listed (Active)

MRED #12212234

$374,999
03/05/2025

Contingent

MRED #12212234

03/04/2025

Temporarily Off Market

MRED #12212234

$324,999
12/08/2024

Listed (Active)

MRED #12212234

$374,999
12/23/2020

Sold

MRED #10929233

$200,000
12/08/2020

Pending

MRED #10929233

11/07/2020

Listed (Active)

MRED #10929233

$239,900
02/16/2012

Cancelled

MRED #07633128

$240,000
11/15/2011

Listed (Active)

MRED #07633128

$279,000
09/09/2010

Cancelled

MRED #07163633

$279,000
03/18/2009

Listed (Active)

MRED #07163633

$550,000
02/23/2009

Cancelled

MRED #06858786

$550,000
06/18/2008

Listed (Active)

MRED #06858786

$550,000
04/11/2008

Cancelled

MRED #06819586

$550,000
03/05/2008

Listed (Active)

MRED #06819586

$650,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 7318 West Archer Avenue

This home is within Argo Chsd 217 School District.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - K to 4
Public - 5
Public - 6 to 8
Rating
School
Distance
W W Walker Elementary School
PublicK to 4

Walsh Elementary School
PublicK to 4

Heritage Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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7318 West Archer Avenue is a multi-family home for sale in Summit, IL 60501. This property was listed for sale on July 6, 2025 by Compass, it's currently listed at $349,880. It has been on the market for a total of 127 days and was last sold on December 23, 2020. This listing's school districts are Summit School District 104, Argo Chsd 217 School District. Nearby schools include W W Walker Elementary School, Walsh Elementary School and Dr Donald Wharton Elementary School. 7318 West Archer Avenue is a 4-bed, 2-bath, multi-family home built in 1923.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 11/09/2025 12:06 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.