1914 N 18th Ave Melrose Park, IL 60160
Estimated payment $4,100/month
About This Home
Welcome to a lucrative investment opportunity nestled in the heart of Melrose Park, where prime real estate meets exceptional potential. A well-maintained 4-unit brick building comprised of 3 beautifully renovated 2-bedroom apartments and one 1-bedroom apartment. Onsite is A large laundry room with coin operated washer and dryer and additional storage for each apartment. Other features of this impressive property include a sump pump, newer roof and gutters (2017), new appliances (2025), new light fixtures (2025), new flooring (2025), new fire-resistant doors, newer water heater, 5 parking spots, as well as a Shed and a picnic area on the premises for the tenants to enjoy. 2 out of the 4 units are currently occupied, while the other 2 are vacant and newly remodeled and offer great potential to either rent at market value or to occupy one of the specious units. This property offers investors a rare opportunity for substantial returns on their investment in today's flourishing market. With all units rented at the market rate the capitalization rate is at an astonishing 10 percent. This investment gem sits within close proximity to shopping centers, central highways, schools, public parks, and public transportation. Its strategic location not only enhances its desirability for tenants and investors alike but also presents long-term appreciation in property value. Whether you're looking to be a homeowner getting additional income, an experienced investor seeking to diversify your portfolio or a newcomer looking to capitalize on the real estate market's potential, look no further because this opportunity combined with a very strong rental market demand grants both immediate return on investment and long-term growth. One of the owners is a licensed real estate agent.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,450
Year Built
- Built in 1970 | Remodeled in 2025
Parking
- 5 Parking Spaces
Home Design
- Brick Exterior Construction
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Potential Bedrooms
- 5 Bathrooms
Schools
- Rhodes Elementary School
Utilities
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
Overview
- 4 Units
Building Details
- Electric Expense $740
- Fuel Expense $1,800
- Water Sewer Expense $930
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/30/2025 07/30/25 | Pending | -- | -- | -- |
| 07/25/2025 07/25/25 | Price Changed | $559,000 | -6.7% | -- |
| 07/25/2025 07/25/25 | For Sale | $599,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12429437
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