3816 W Montrose Ave Chicago, IL 60618
Albany Park NeighborhoodEstimated payment $5,791/month
About This Home
This 3-unit property is fully rented and a great income-producing investment opportunity or perfect for a Live/Work owner! The roof was replaced 2 years ago, and both the 2-bed and the coach house have new electrical. The 1600 Sq. Ft. storefront is currently operating as a catering/restaurant business and is on a long-term, month-to-month rent, so that gives flexibility to the new owner. The second floor has a 2-bedroom, 1-bathroom plus enclosed porch and an outdoor patio and has been recently renovated, and it's currently rented out. The beautifully designed 2-bed unit features an in-unit laundry and a custom kitchen with stainless steel appliances and granite countertops, which are perfect for cooking and entertaining. The apartment boasts hardwood floors throughout, adding a touch of elegance to the space. It also has a private entry and central air and heat. The owner just finished the full gut rehab of the coach house in the back as well. The coach house has 4 bedrooms/2baths, and it's a 3-floor living space; it feels and lives like a single home. Gorgeous brand new kitchen with all the bells and whistles, and two brand new elegant bathrooms, in-unit laundry. With public transportation nearby, commuting is a breeze. Great upside potential
Listing Agent
Cedar Realty Brokerage Phone: (312) 967-4388 License #475179441 Listed on: 07/15/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,061
Year Renovated
- 2025
Home Design
- Brick Exterior Construction
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Potential Bedrooms
- 5 Bathrooms
Additional Features
- Partial Basement
- Lot Dimensions are 27x118
- Heating System Uses Natural Gas
Community Details
Overview
- 3 Units
Building Details
- Electric Expense $425
- Insurance Expense $2,500
- Water Sewer Expense $625
- Gross Income $80,280
- Net Operating Income $76,730
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $13,061 | $69,321 | $10,955 | $58,366 |
| 2023 | $12,732 | $61,683 | $8,764 | $52,919 |
| 2022 | $12,732 | $61,683 | $8,764 | $52,919 |
| 2021 | $12,444 | $61,682 | $8,764 | $52,918 |
| 2020 | $7,067 | $31,615 | $4,538 | $27,077 |
| 2019 | $7,287 | $36,148 | $4,538 | $31,610 |
| 2018 | $7,164 | $36,148 | $4,538 | $31,610 |
| 2017 | $7,802 | $36,122 | $4,069 | $32,053 |
| 2016 | $7,259 | $36,122 | $4,069 | $32,053 |
| 2015 | $6,642 | $36,122 | $4,069 | $32,053 |
| 2014 | $7,979 | $42,845 | $3,756 | $39,089 |
| 2013 | $7,821 | $42,845 | $3,756 | $39,089 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/15/2025 07/15/25 | For Sale | $895,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $385,000 | Cst | |
| Interfamily Deed Transfer | -- | Chicago Title Insurance Comp | |
| Deed | $350,000 | Cti | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $262,500 | Unknown |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12420367
APN: 13-14-124-033-0000
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