4854 W Addison St Chicago, IL 60641
Portage Park NeighborhoodEstimated payment $4,156/month
Total Views
20,249
4
Beds
4
Baths
--
Sq Ft
--
Price per Sq Ft
About This Home
Charming Multi-Use Property with Income Potential! Welcome to this one-of-a-kind, income-generating gem in a prime location! Offering just over 4,000 square feet of versatile space, this beautifully maintained property includes one commercial unit and two residential units, making it a rare find for savvy investors or business owners looking for flexibility and strong returns. The third floor features a bright and inviting 2-bedroom, 1- bath residential unit, ideal for tenants or a comfortable owner's retreat. Enjoy deck access and in-unit laundry. (Currently leased through August.) On the second floor, you'll find a stylish 2-bedroom, 1-bath unit, fully remodeled in 2023 and now vacant-ready for your next tenant or personal use. This unit also enjoys private deck access, with laundry conveniently located just downstairs. The first floor commercial space is a standout, offering prime visibility and thoughtful design for any business. It includes three private offices, a spacious conference room, an open front office area, and a fullyequipped kitchen with a stove, fridge, and sink. The bathroom is smartly split into separate rooms for the toilet, sink, and shower-perfect for clientfacing businesses. Recent updates include: Second floor remodel (2023), Brand new front deck (2024), Commercial space flooring (2020), Two-car garage (approx. 10 years old), currently used for storage, New roof (rolled tar, 2017), Completed tuck-pointing in recent years. This property blends classic charm with thoughtful updates, offering a unique opportunity for owner-occupants, investors, or business owners seeking multi-use flexibility. With existing rental income and commercial potential, this is a rare chance to secure a strong return in a highly desirable location!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,916
Year Built
- Built in 1938 | Remodeled in 2023
Parking
- 2 Car Garage
Home Design
- Brick Exterior Construction
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Potential Bedrooms
- 4 Bathrooms
Additional Features
- Lot Dimensions are 34' x 126'
- Individual Controls for Heating
Community Details
- 3 Units
Map
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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 | $9,916 | $57,000 | $14,112 | $42,888 |
| 2023 | $9,667 | $47,000 | $11,290 | $35,710 |
| 2022 | $9,667 | $47,000 | $11,290 | $35,710 |
| 2021 | $9,451 | $46,999 | $11,289 | $35,710 |
| 2020 | $7,311 | $32,819 | $5,040 | $27,779 |
| 2019 | $7,579 | $37,724 | $5,040 | $32,684 |
| 2018 | $7,452 | $37,724 | $5,040 | $32,684 |
| 2017 | $8,428 | $39,152 | $4,435 | $34,717 |
| 2016 | $7,842 | $39,152 | $4,435 | $34,717 |
| 2015 | $7,174 | $39,152 | $4,435 | $34,717 |
| 2014 | $7,401 | $39,891 | $4,032 | $35,859 |
| 2013 | $7,255 | $39,891 | $4,032 | $35,859 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/01/2025 08/01/25 | Pending | -- | -- | -- |
| 07/28/2025 07/28/25 | For Sale | $625,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $400,000 | None Available | |
| Special Warranty Deed | $215,000 | First American | |
| Sheriffs Deed | -- | None Available | |
| Warranty Deed | $450,000 | Atgf Inc | |
| Deed | -- | Atgf Inc |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $394,912 | VA | |
| Closed | $408,600 | VA | |
| Previous Owner | $150,000 | Commercial | |
| Previous Owner | $360,000 | Commercial | |
| Previous Owner | $0 | Unknown |
Source: Public Records
About the Listing Agent
Rafay Qamar is the founder of Qamar Group at REAL Broker and one of the Midwest’s most trusted names in real estate. If you want a fierce negotiator, a trusted strategist, and someone who will outwork the competition to get you the absolute best deal, then welcome—you’ve found your closer.
With over $750 million in closed volume and 2,600+ transactions under my belt, I’ve built a reputation for turning complex deals into winning outcomes for my clients. Whether you’re buying, selling,
Rafay's Other Listings
Source: Midwest Real Estate Data (MRED)
MLS Number: 12431830
APN: 13-21-231-017-0000
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