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$ 249,900
Est. payment | /mo
10 Beds
$ 249,900
Est. payment | /mo
10 Beds
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12346378
Bedrooms 10
Year Built 1901
Annual Tax Amount $8,825
Tax Year 2023
Lot Dimensions 25X125
Property Sub-Type Two to Four Units
Property Description
***Asking price is only $249,900 - Estimated After-Repair-Value is $677,000*** Incredible opportunity to own a legal 2-flat with a bonus garden apartment in the rapidly developing East Garfield Park (Tri-Taylor) neighborhood-steps from the Western Blue Line, 15 minutes to UIC via I-290, and surrounded by new construction, including the $7B "1901 Project" near the United Center that's set to transform the area with thousands of new residences, parks, retail, and entertainment. The property features a new back porch (2021), roof replaced within the last 6 years, and will be delivered fully vacant at closing. Zoned RM-5 and located in the West ADU zone, it qualifies for conversion into a legal 3-unit under the City's ADU Ordinance-unlocking major value and rental income potential. Renovated 2-units in the area have recently sold for an average of $546,000, while a full 3-unit conversion pushes the estimated after-repair value to $677,000. Renovated 3-4 bedroom apartments in this neighborhood rent for $2,916-$2,974/month, creating a projected rental income of nearly $9,000/month when fully occupied. Whether you're an investor looking for cash flow or an owner-occupant hoping to "house hack" by living in one unit and letting the other two cover most-if not all-of your expenses, this is a smart buy with serious upside. Excellent candidate for an FHA 203k renovation loan-bring your vision and build equity from day one.
Location
State IL
County Cook
Community Sidewalks, Street Lights
Zoning MULTI
Rooms
Basement Finished, Full
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
View Y/N true
Roof Type Rubber
Building
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Brick
New Construction false
Schools
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Applegate • Straight-A Realty, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "