1501 S Kolin Ave Chicago, IL 60623
North Lawndale NeighborhoodEstimated payment $5,335/month
About This Home
Discover an exceptional investment opportunity with this fully occupied 7-unit brick building that delivers immediate income potential. This well-maintained property features individual in unit furnaces and BRAND NEW separate water heaters, ensuring tenant comfort while minimizing owner expenses. The building showcases thoughtful updates throughout, including modernized kitchens and bathrooms, as well as BRAND NEW copper plumbing that stands the test of time. Recent improvements include professional roof maintenance with silver coating and newer vinyl windows (2023) that enhance both energy efficiency and curb appeal. The property features 3 spacious three-bedroom, one-bathroom units and 4 two-bedroom, one bathroom units with generous living areas and large bedrooms that tenants love. The solid brick construction provides durability and timeless appeal while maintaining excellent occupancy rates. This turnkey investment requires no immediate property improvements, making it perfect for investors seeking steady cash flow from day one. The building's proven track record of high occupancy rates and premium rents speaks to its desirable location and quality management potential.
Listing Agent
Berkshire Hathaway HomeServices American Heritage License #475157367 Listed on: 07/13/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $11,881
Year Built
- Built in 1924
Lot Details
- 3,765 Sq Ft Lot
- Lot Dimensions are 30 x 125.5
Home Design
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
Utilities
- Forced Air Heating System
- Heating System Uses Gas
Community Details
Overview
- 7 Units
Building Details
- Electric Expense $960
- Insurance Expense $13,000
- Trash Expense $1,200
- Water Sewer Expense $10,200
- Operating Expense $37,241
- Gross Income $131,400
- Net Operating Income $94,159
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/21/2025 07/21/25 | Pending | -- | -- | -- |
| 07/13/2025 07/13/25 | For Sale | $799,000 | +129.7% | -- |
| 01/12/2020 01/12/20 | Sold | $347,900 | -12.8% | -- |
| 10/10/2019 10/10/19 | Pending | -- | -- | -- |
| 09/17/2019 09/17/19 | Price Changed | $398,999 | 0.0% | -- |
| 08/27/2019 08/27/19 | For Sale | $399,000 | 0.0% | -- |
| 08/16/2019 08/16/19 | Pending | -- | -- | -- |
| 05/07/2019 05/07/19 | For Sale | $399,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12418665
APN: 16222240010000
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