$470,000
SOLD DEC 20, 2024
12 Beds
3 Baths
-- Sq Ft
1909 Built

Recently Sold

1% Below List Price

33 Days on Market

Highlights

  • Greystone Architecture
  • Brick or Stone Mason
  • Forced Air Heating System
  • Enclosed Patio or Porch
  • Entrance Foyer
  • 2-minute walk to Park No. 534

About This Home

As of December 2024

Attention Investors and Owner-Occupants! This beautiful Greystone 2-Flat w/ a bonus Luxury Garden Unit in North Lawndale is a rare turnkey cash-flow opportunity that won't last! With over 3,500 sq. ft. of living space, this property allows you to live for free while generating substantial rental income. 90% of the improvements have been completed, only 10% remaining! The two main Units each feature four spacious bedrooms and one bathroom, while the sizable Garden Unit boasts four bedrooms, 1 full bathroom, 7ft+ ceilings, and modern updates throughout! All Units offer luxury vinyl flooring, recessed lighting, stainless steel appliances, and updated kitchens with white shaker cabinets. Unit 1 and the Garden Unit have freshly updated bathrooms and are vacant, move-in ready with fresh paint and contemporary finishes. Unit 2 is occupied by a long-standing CHA tenant with a four-bedroom voucher, renting well below market, presenting an immediate rent increase opportunity in 2025. This property is perfect for house-hackers: live in the Garden Unit while renting out the other two. Comparable rents for four-bedroom units in the area reach up to $2,200/month, with Unit 2 capable of yielding $2,000+ with a rent adjustment. With a potential gross income of $6,400 per month, far exceeding the estimated $3,400 for mortgage, taxes, and insurance at a 7% interest rate, you'll enjoy positive cash flow while living mortgage-free! Additional highlights include forced heat, separated utilities, and new water tanks and furnaces in each unit! The fully fenced backyard offers privacy and space for tenant enjoyment or personal use. Located in the rapidly appreciating North Lawndale neighborhood, minutes from I-290, parks, shopping, dining, and public transit, this property is surrounded by growth and opportunity. Comparable properties are selling for upwards of $573,000, and the strong rental market ensures high demand. Don't miss out on this chance to live mortgage-free while building equity. Schedule your showing today!

Last Agent to Sell the Property

Michael Applegate

Straight-A Realty, LLC License #471020131 Listed on: 10/24/2024

Co-Listed By

D'Andre Daye

eXp Realty License #475185030

Last Buyer's Agent

Gabrielle Davis

EXIT Strategy Realty License #475199157

EXIT Strategy Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,715

Year Built

  • Built in 1909

Home Design

  • Greystone Architecture
  • Brick or Stone Mason
  • Rubber Roof

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 12 Potential Bedrooms
  • 3 Bathrooms

Finished Basement

  • Basement Fills Entire Space Under The House
  • Bedroom in Basement

Additional Features

  • Entrance Foyer
  • Enclosed Patio or Porch
  • Lot Dimensions are 25 x 125
  • Forced Air Heating System

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,715

Year Built

Built in 1909

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Greystone
  • New Construction: No
  • Year Built: 1909
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • New Construction Y/N: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 3
  • Total Bedrooms: 12
  • Room Type: Enclosed Porch, Foyer
  • Basement Description: Finished,Sleeping Area
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 3
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Microwave
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Microwave

Exterior Features

  • List Price: 475000
  • Roof: Rubber
  • Waterfront: No
  • Exterior Building Type: Brick,Stone

Garage/Parking

  • Parking: None

Utilities

  • Sewer: Public Sewer
  • Heating: Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Conversion YN: N

Schools

  • Middle/Junior School District: 299

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 25 X 125
  • Zoning: MULTI
  • Lot Size: Standard Chicago Lot
  • Special Assessments: N

Rental Info

  • Board Number: 10

Tax Info

  • Tax Annual Amount: 3714.73
  • Tax Year: 2023
  • Tax Exemptions: None

Multi Family

  • Units in Building: 2
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Flat

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2024 12/20/24 Sold $470,000 -1.1% --
11/03/2024 11/03/24 Pending -- -- --
10/25/2024 10/25/24 For Sale $475,000 0.0% --
10/01/2024 10/01/24 For Sale $475,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12158371

Midwest Real Estate Data (MRED)