1338 S Springfield Ave Chicago, IL 60623
North Lawndale Neighborhood
15
Beds
6
Baths
6,163
Sq Ft
1908
Built
About This Home
As of July 2025Welcome to this fantastic 10% cap investment opportunity! This brick 6-unit building is a gem for any savvy investor. Situated in a desirable location, this property promises a stable income source and incredible potential for long-term growth. The current tenants are from the Chicago Housing Authority (CHA), ensuring consistent occupancy and reliable rental income. Each unit within this well-maintained building offers a host of attractive features. Hardwood floors throughout provide a timeless and elegant touch, while gas forced air heating ensures comfort and efficiency. The convenience of separate utilities adds to the appeal, making it easier to manage expenses and optimize profitability. The entire building has undergone a thorough gut rehab with meticulous attention to detail, supported by approved plans and permits. This reassures the buyer of the quality and durability of the property, minimizing maintenance and renovation costs in the foreseeable future. With a thoughtfully designed layout, the building comprises three units with 3 bedrooms and 1 bath, and three units with 2 bedrooms and 1 bath. This versatile configuration caters to various tenant needs, appealing to a wide range of potential renters. The current property manager, who has been overseeing the building's operations, is willing to continue working with the new owner. This seamless transition process ensures a hassle-free experience for the buyer, allowing them to focus on maximizing returns and enjoying the benefits of their investment. Don't miss out on this incredible opportunity to add a brick 6-unit building to your investment portfolio. With stable CHA tenants and the support of a reliable property manager, this property is poised to deliver long-term success. Schedule a showing today and discover the potential that awaits you!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,237
Year Built
- Built in 1908
Bedrooms and Bathrooms
- 15 Bedrooms
- 6 Bathrooms
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Additional Features
- 3-Story Property
- Lot Dimensions are 30x125
Listing and Financial Details
- Tenant pays for electricity, heat
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $240
- Insurance Expense $2,500
- Maintenance Expense $7,200
- Trash Expense $1,560
- Water Sewer Expense $1,800
- Operating Expense $17,536
- Gross Income $84,552
- Net Operating Income $62,787
Similar Homes in Chicago, IL
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/07/2025 07/07/25 | Sold | $650,000 | 0.0% | $105 / Sq Ft |
| 07/06/2025 07/06/25 | For Rent | $1,600 | 0.0% | -- |
| 06/11/2025 06/11/25 | Off Market | $1,600 | -- | -- |
| 05/27/2025 05/27/25 | Pending | -- | -- | -- |
| 05/11/2025 05/11/25 | For Sale | $525,000 | 0.0% | $85 / Sq Ft |
| 05/08/2025 05/08/25 | For Rent | $1,600 | 0.0% | -- |
| 09/19/2023 09/19/23 | Sold | $510,000 | -19.0% | $83 / Sq Ft |
| 08/17/2023 08/17/23 | Pending | -- | -- | -- |
| 05/22/2023 05/22/23 | For Sale | $630,000 | -- | $102 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Sebastian Hila
Seller's Agent in 2025
Sebastian Hila
Optimus Realty Inc
(773) 501-6845
1 in this area
35 Total Sales
-
Cristian Luput
C
Seller Co-Listing Agent in 2025
Cristian Luput
Optimus Realty Inc
(312) 806-7365
1 Total Sale
-
Tian Xin
T
Buyer's Agent in 2025
Tian Xin
Weichert,Realtors-FirstChicago
(972) 522-8880
8 in this area
21 Total Sales
-
Sam Shah
Seller's Agent in 2023
Sam Shah
YBRS Realty Inc.
(847) 477-1477
17 in this area
126 Total Sales
-
Laura McNellis
Buyer's Agent in 2023
Laura McNellis
McSully Properties LLC
(708) 227-2418
6 in this area
166 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11788774
APN: 16231080290000
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