4028 S King Dr Chicago, IL 60653
Bronzeville NeighborhoodEstimated payment $5,971/month
Total Views
659
11
Beds
7
Baths
--
Sq Ft
--
Price per Sq Ft
Highlights
- Popular Property
- Paved or Partially Paved Lot
- 4-minute walk to Poplar Park
- Gated Community
About This Home
Historic Grand Boulevard 4-Flat with High Income Potential + Bonus Coach House! Own a piece of Chicago's architectural legacy with this stunning, fully rehabbed 4-flat on iconic King Drive in the heart of historic Grand Boulevard. This 5,600 sq ft gem blends timeless Bronzeville charm with modern updates, offering the perfect combination of luxury, income, and long-term upside. Gut-renovated in 2010 and refreshed in 2022 with new kitchens and bathrooms in Units 1 & 2, this property is fully leased and generating strong, consistent rental income-delivering instant cash flow from day one. Whether you're an investor or owner-occupant, this is a turn-key opportunity with tremendous upside. Each of the four expansive units features soaring 10-foot ceilings, generous layouts, and modern finishes. But the value doesn't stop there-out back, an unfinished coach house offers endless potential. Envision a 2-car garage topped with a 2-bedroom apartment to easily create a fifth income-producing unit and boost your ROI. Location perks: * Steps from CTA Green Line + King Drive bus. * Quick access to I-90/94 and Lake Shore Drive. * Walk to lakefront beaches, bike paths, and parks. * Just 2 miles to Hyde Park, U of C, and McCormick Place. * Only 4 miles to downtown Chicago. This is more than a property-it's a portfolio-builder. Rarely does a move-in-ready, cash-flowing multi-unit with future development potential hit the market in such a prime, appreciating neighborhood. Currently a 6.6% CAP rate with room to grow. Schedule your private tour today-this opportunity won't last!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,600
Year Built
- Built in 1888 | Remodeled in 2010
Lot Details
- Lot Dimensions are 40x142
- Paved or Partially Paved Lot
Parking
- 2 Car Garage
Home Design
- Brick Exterior Construction
Bedrooms and Bathrooms
- 11 Bedrooms
- 11 Potential Bedrooms
- 7 Bathrooms
Utilities
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
Building Details
- Electric Expense $200
- Insurance Expense $5,989
- Maintenance Expense $2,000
- Manager Expense $2,400
- Water Sewer Expense $4,000
- Gross Income $87,480
- Net Operating Income $64,911
Additional Features
- 4 Units
- Gated Community
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/08/2025 08/08/25 | For Sale | $975,000 | +24.2% | -- |
| 05/18/2022 05/18/22 | Sold | $785,000 | -1.9% | -- |
| 03/01/2022 03/01/22 | Pending | -- | -- | -- |
| 02/17/2022 02/17/22 | For Sale | $799,999 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Similar Homes in Chicago, IL
Source: Midwest Real Estate Data (MRED)
MLS Number: 12434295
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