5636 W Division St Chicago, IL 60651
Austin NeighborhoodEstimated payment $15,571/month
Highlights
- 12,303 Sq Ft lot
- Hot Water Heating System
- 5-minute walk to Davis Park
About This Home
This 33-unit mixed-use property, a bank-owned asset in Chicago's thriving North Austin neighborhood, presents an attractive investment opportunity in a historic urban setting. Constructed in 1925, the elegant terracotta building features 7 commercial storefronts, 20 one-bedroom/one-bathroom apartments, and 6 two-bedroom/one-bathroom apartments, creating a diverse and stable revenue stream. The property's varied unit mix appeals to a wide range of tenants, from small businesses to residential renters. Significant value-add potential exists through targeted upgrades, including modernizing the commercial spaces (notably the vacant corner unit), enhancing on-site parking, and improving laundry facilities. With strategic renovations and efficient property management, investors can unlock substantial cash flow and long-term appreciation in Chicago's dynamic rental market. Located in a vibrant, historic community with strong demand, this property is ideal for those looking to capitalize on the city's growing real estate opportunities.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $30,206
Year Built
- Built in 1925
Lot Details
- 0.28 Acre Lot
- Lot Dimensions are 98x125
Home Design
- Brick Exterior Construction
Interior Spaces
- 22,546 Sq Ft Home
- 3-Story Property
Utilities
- Hot Water Heating System
Community Details
Overview
- 33 Units
Building Details
- Electric Expense $1,800
- Fuel Expense $25,000
- Insurance Expense $15,000
- Maintenance Expense $6,000
- Manager Expense $24,600
- Other Expense $5,000
- Trash Expense $5,000
- Water Sewer Expense $12,500
- Operating Expense $128,606
- Gross Income $492,000
- Net Operating Income $324,034
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 | $30,206 | $311,400 | $15,994 | $295,406 |
| 2023 | $29,446 | $143,161 | $12,918 | $130,243 |
| 2022 | $29,446 | $143,161 | $12,918 | $130,243 |
| 2021 | $28,788 | $143,161 | $12,918 | $130,243 |
| 2020 | $26,932 | $120,898 | $12,918 | $107,980 |
| 2019 | $24,290 | $120,898 | $12,918 | $107,980 |
| 2018 | $23,881 | $120,898 | $12,918 | $107,980 |
| 2017 | $20,603 | $95,707 | $10,149 | $85,558 |
| 2016 | $19,169 | $95,707 | $10,149 | $85,558 |
| 2015 | $17,538 | $95,707 | $10,149 | $85,558 |
| 2014 | $16,299 | $87,849 | $10,149 | $77,700 |
| 2013 | $15,978 | $87,849 | $10,149 | $77,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/08/2025 08/08/25 | Price Changed | $2,450,000 | -2.0% | $109 / Sq Ft |
| 06/11/2025 06/11/25 | For Sale | $2,500,000 | -- | $111 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | -- | None Listed On Document | |
| Deed | $3,645,000 | Old Republic Title | |
| Warranty Deed | $925,000 | Multiple | |
| Warranty Deed | $380,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $2,640,000 | FHA | |
| Previous Owner | $1,160,000 | Construction | |
| Previous Owner | $589,000 | Commercial | |
| Previous Owner | $608,000 | Commercial |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12390171
APN: 16-05-230-032-0000
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