2735 N Magnolia Ave Chicago, IL 60614
West DePaul NeighborhoodEstimated payment $12,445/month
Highlights
- Central Heating and Cooling System
- Lincoln Park High School Rated A
- 4-minute walk to South Lakeview Park
About This Home
Welcome to 2735 N. Magnolia, located in Lincoln Park, one of Chicago's most sought-after neighborhoods. Ideally located on a low-density, tree-lined street, just steps from DePaul University's Lincoln Park campus. Rental demand in this area is consistently high, given its proximity to neighborhood retail, dining, and public transportation, ensuring strong tenant demand and long-term investment stability. The property consists of (5) units featuring a brick walk-up three (3) unit building in the front and a two (2) unit frame coach house in the rear. Both buildings are equipped with individual HVAC and hot water heaters for each unit, providing tenants with control over their own utilities and reducing owner-paid expenses. Additionally, the common area laundry facilities are owned, which provides an additional income stream for the property. The property has an ideal unit mix, including three (3) three bedroom, one bathroom apartments in the front building and two (2) one-bedroom, one bathroom units in the coach house. All apartments have well laid out floor plans and abundant natural light. All one (1) bedroom apartments have additional den space. The property has received significant capital improvements over the years including individual HVAC, individual hot water heaters, a new catch basin and drain line, updated windows, and well-maintained tuckpointing and a roof. This offering presents several value add avenues for an investor to increase the property's revenue allowing for a significant cash-on-cash return for many years to come.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $28,191
Year Built
- Built in 1893
Lot Details
- 3,100 Sq Ft Lot
- Lot Dimensions are 25 x 125
Home Design
- Brick Exterior Construction
Additional Features
- 3-Story Property
- Central Heating and Cooling System
Community Details
Overview
- 5 Units
Building Details
- Electric Expense $701
- Fuel Expense $853
- Insurance Expense $4,166
- Maintenance Expense $2,400
- Other Expense $1,200
- Trash Expense $1,484
- Water Sewer Expense $1,919
- Operating Expense $50,364
- Gross Income $165,240
- Net Operating Income $110,639
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/02/2025 09/02/25 | Pending | -- | -- | -- |
| 08/27/2025 08/27/25 | Price Changed | $1,895,000 | 0.0% | -- |
| 08/27/2025 08/27/25 | For Sale | $1,895,000 | -1.6% | -- |
| 08/12/2025 08/12/25 | Pending | -- | -- | -- |
| 07/31/2025 07/31/25 | For Sale | $1,925,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12434402
APN: 14-29-306-006-0000
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