A Cu–0.13Cr–0.074Ag (wt%) alloy has been synthesized by the nonvacuum melting and casting followed by thermal-mechanical treatment, and microstructure and mechanical properties have been tailored to make a trade-off between the strength and the electrical conductivity. Results illuminated that the designed alloy has a tensile strength of 473 MPa, a hardness of 140 HV, a yield strength of 446 MPa, an elongation of 10.5%, and an electrical conductivity of 94.5% IACS. Microstructure observations of the samples aged at 480 °C showed that: an fcc structure Cr-phase with a cube-on-cube orientation relationship with the Cu matrix was formed as aged for 15 min, while an ordered bcc structure Cr phase with B2 structure formed as aged for 2 h. The 3DAP results revealed that the Cr was formed to be precipitates and the Ag was formed as solutes distributing evenly in matrix. The high electrical conductivity was ascribed to the Cr element precipitated from the Cu matrix, Ag dissolved in the Cu matrix had little effect on the scattering of Cu electron.