7062 W Diversey Ave Chicago, IL 60707
Montclare NeighborhoodEstimated payment $4,996/month
Highlights
- Popular Property
- Lower Floor Utility Room
- Wood Fence
- Gated Community
- Baseboard Heating
- Paved or Partially Paved Lot
About This Home
Refurbished LEGAL three-flat offering exceptional cash flow and long-term equity potential. Units boasts spacious floor plans with oversized bedrooms and wide layouts. The top floor and middle unit are about 1,417 sq. ft. while lower level unit is about 1,000 sq ft. The 1st and 2nd floor units feature 4 bedrooms and 2 full baths-designed to capture premium rents in this rental market. Nearby comps show 3BR units renting for $2,300/month, making $2,400-$2,500 achievable for these larger 4BR layouts. The ground-level unit offers flexibility as a 2BR/1BA or can be expanded to add an additional bedroom and bath. Area comps support rents around $2,100/month. Fully leased, projected gross annual income is $85,200+ (without parking income). Additional upside with coin-operated laundry or by leasing the detached 2-car garage. Utilities have been separated for tenants to pay their own. This classic Chicago yellow-brick building combines durability with high residual income potential. Prime location-close to shopping, dining, and neighborhood conveniences-ensures consistent tenant demand and short market times. Whether you're adding to your portfolio or looking for a strong-performing investment property, this is a smart acquisition to secure before year's end.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,378
Year Built
- Built in 1955 | Remodeled in 2025
Lot Details
- Wood Fence
- Paved or Partially Paved Lot
Parking
- 2 Car Garage
- Parking Included in Price
Home Design
- Brick Exterior Construction
- Rubber Roof
- Concrete Perimeter Foundation
Interior Spaces
- Lower Floor Utility Room
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Potential Bedrooms
- 5 Bathrooms
Schools
- Beard Elementary School
- Josephine Locke Elementary Schoo Middle School
- Idoc/Healy South High School
Utilities
- Baseboard Heating
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
- 3 Units
- Gated Community
Listing and Financial Details
- Homeowner Tax Exemptions
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/06/2025 09/06/25 | For Sale | $795,000 | +34.7% | -- |
| 06/03/2025 06/03/25 | Sold | $590,000 | +7.3% | -- |
| 04/11/2025 04/11/25 | Pending | -- | -- | -- |
| 04/03/2025 04/03/25 | For Sale | $549,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12464795
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