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$384,900
Est. payment /mo
6 Beds
3 Baths
3,920 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12747083
Bedrooms 6
Year Built 1923
Annual Tax Amount $5,627
Tax Year 2025
Lot Size 3,920 Sqft
Lot Dimensions 30x125x30x125
Property Sub-Type Two to Four Units
Property Description
Investor opportunity in the heart of Chatham! This fully occupied 3-unit building offers immediate income with additional long-term upside for the savvy buy-and-hold investor. Each unit features a functional 2-bedroom layout, while residents are responsible for their own gas and electric-an attractive setup for operating efficiency. Individual furnaces and water heaters serve each unit, providing added convenience and control. Current gross rents total approximately $3,561/month, with additional income growth already underway through a newly executed lease and a pending CHA rent increase. With comparable 2-bedroom rents in the area supporting higher rental potential, the next owner has an opportunity to continue strengthening the building's income over time. Outside, a 3-car masonry garage adds valuable off-street parking and additional appeal for tenants. Unfinished basement offers additional value-add potential, including the possibility of a future additional unit, subject to zoning and City approval. Conveniently located near transportation, shopping, and neighborhood amenities, this is an opportunity to acquire an occupied multifamily asset with existing cash flow, separate tenant-paid utilities, and room for future income growth. Add this Chatham 3-unit to your portfolio and let your investment work from day one.
Location
State IL
County Cook
Area Chi - Chatham
Rooms
Basement Unfinished, Partial
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
Garage Spaces 3.0
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer, Storm 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
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Listed by Cierra Thurman of Keller Williams ONEChicago
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