$1,650,000

5500 W Lake St Chicago, IL 60644

Austin Neighborhood

Estimated payment $10,274/month

Total Views 3,584
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Forced Air Heating System
  • 2-minute walk to Central Station (Green Line)
  • 2-minute walk to Austin Town Hall Park

About This Home

11 unit building which offers comfortable living on the West Side-less than half a mile from Oak Park. This unique and rare investment opportunity features 11 spacious, cozy units, each thoughtfully designed with one separate bedroom, a large living room suitable for a living/dining room combination, one bathroom, a kitchen, hall closet, and a private furnace room. New flooring and freshly painted with newer appliances throughout the building. Some units have new furnaces. This property offers far more than expected, including excellent access to public transportation with the Green Line train and bus just steps away. Tenants will also enjoy proximity to Levin Park, convenient street parking, and five exterior parking spaces-providing added convenience and the potential for additional income. The property also includes an area ideal for coin-operated laundry and individual storage units. This can also be an additional residential unit. Property is presently empty and being sold "As-Is". Units are all ready to rent.

Listing Agent

Heriberto Ruiz

R4 Commercial Real Estate Solutions License #471008582 Listed on: 06/17/2026

Co-Listing Agent

David Ruiz

R4 Commercial Real Estate Solutions License #475203576

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,551

Year Built

  • Built in 1964

Home Design

  • Brick Exterior Construction
  • Concrete Perimeter Foundation

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System

Additional Features

  • 3-Story Property
  • Lot Dimensions are 50x130

Listing and Financial Details

  • The owner pays for snow removal, trash collection, management, sewer, water, common area maintenance, gas, electricity, hot water, janitorial service, repairs

Community Details

Overview

  • 11 Units

Building Details

  • Electric Expense $910
  • Fuel Expense $922
  • Insurance Expense $3,000
  • Maintenance Expense $1,000
  • Trash Expense $1,200
  • Water Sewer Expense $1,000
  • Operating Expense $5,000
  • Gross Income $132,000
  • Net Operating Income $108,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,551

Year Built

Built in 1964

Lot Details

0 Sq Ft Lot

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • HabitableResidenceYN: Yes
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1964
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required,No Sign on Property
  • Estimated Age: Older
  • Actual Status: Active
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • OwnerPays: Snow Removal, Trash Collection, Management, Sewer, Water, Common Area Maintenance, Gas, Electricity, Hot Water, Janitorial Service, Repairs
  • Possible Use: Multi-Family
  • Dishwashers: 0
  • Refrigerators: 11
  • Ranges: 11
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Cooling: Window Unit(s)
  • Electric: Circuit Breakers, Fuses
  • Heat/Ventilation: Forced Air
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1200
  • Water Sewer Expenses: 1000

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 50X130
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 10

Multi Family

  • Net Operating Income: 108000
  • Fuel Expense: 922
  • Insurance Expense: 3000
  • ElectricExpense: 910
  • GrossIncome: 132000
  • Maintenance Expense: 1000
  • NumberOfUnitsTotal: 11
  • OperatingExpense: 5000
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 14551
  • Tax Year: 2023

Map

Range of Values:

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Value Increase
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/17/2026 06/17/26 For Sale $1,650,000 +150.0% --
10/27/2022 10/27/22 Sold $660,000 -3.6% -- View Prior Sale
08/28/2022 08/28/22 Pending -- -- --
08/15/2022 08/15/22 For Sale $685,000 -- --
Source: Midwest Real Estate Data (MRED)

Source: Midwest Real Estate Data (MRED)

MLS Number: 12680755

Midwest Real Estate Data (MRED)

APN: 16-09-121-034-0000

Illinois Cook County Chicago 60644 Austin

5500 W Lake St, Chicago, IL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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Heriberto Ruiz
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Heriberto Ruiz
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(312) 610-0370
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