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$ 500,000
Est. payment | /mo
5 Beds
3 Baths
5,227 Sqft Lot
$ 500,000
Est. payment | /mo
5 Beds
3 Baths
5,227 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12577423
Bedrooms 5
Year Built 1921
Annual Tax Amount $9,044
Tax Year 2024
Lot Size 5,227 Sqft
Lot Dimensions 5391
Property Sub-Type Two to Four Units
Property Description
Excellent investment opportunity in a desirable Northwest Chicago neighborhood. This fully leased, well-maintained building generates $3,500 per month in gross rental income ($42,000 annually), with an estimated net operating income of $26,613.52 and a current cap rate of approximately 5.32%. With only a modest 10% increase in rents, the cap rate would exceed 6%, presenting strong upside potential. Additional income is generated from the basement coin laundry (one washer and one dryer), producing approximately $400-$500 annually. Recent improvements include a new roof (2019), new front porch (2019), garden unit remodeled (2018), and Unit 1 remodeled (2020). The property features hardwood floors in the first and second floor units, separate furnaces, and separate electric meters. Units #1 and #2 have tenants paying all utilities, while utilities are included in the rent for the garden unit. The building is fully rented with well-screened, reliable tenants, and units are clean and well maintained. Additional highlights include easy street parking, outdoor storage sheds, a large fenced yard with concrete patio, and coin laundry in the basement for supplemental income. Seller makes no representation regarding the legality of the third (garden) unit.
Location
State IL
County Cook
Area Chi - Dunning
Rooms
Basement Finished, Full, Walk-Out Access
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
Roof Type Asphalt
Building
Dwelling Type Two to Four Units
Building Description Aluminum Siding,Frame, No
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Aluminum Siding,Frame
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by David Mahoney of Jameson Sotheby's Intl Realty