1307 Kedzie Avenue, North Lawndale, Chicago, Illinois 60623
$630,000
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For Sale
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| Status: | New |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 12 |
| Baths: | 0 |
| Year Built: | 1897 |
| Property Taxes: | $10,163 |
| Days On Market: | 4 |
| Lot Size: | 0,00 |
Description
Turnkey 4-unit brick greystone, fully gutted and rebuilt in 2020, offering four spacious 3-bedroom /1-bath units (12 bedrooms total) plus a finished walkout garden level and two exterior parking spaces. Steps from Douglass Park and the Pink Line, and minutes to the Illinois Medical District, the West Loop, and I-290 - a location drawing steady renter demand and sustained investor interest along the revitalizing Ogden corridor. Each unit was rebuilt with modern kitchens, updated baths, and separate mechanicals, positioning the building for immediate lease-up at current market rents. Comparable renovated 3-bedroom units in North Lawndale are leasing in the $1,500-$1,800 range, giving a new owner a clear path to strong, stabilized cash flow with value-add upside on any below-market unit. Tax advantage: The 2025 assessment was successfully appealed at the Cook County Board of Review, reducing the assessed value from 50,400 to 40,174 - roughly a 20 pct reduction and an estimated annual savings of about $2,000. Post-appeal real estate taxes are projected in the ~$7,600-$8,100 range, materially lowering carrying costs and directly improving NOI for an income-focused buyer. Ideal for an investor seeking stabilized West Side cash flow or an owner-occupant house-hacker. As a 4-unit, the building qualifies for the Fannie Mae 5 pct-down owner-occupant program (2-4 units), which - unlike FHA - does not require the property to pass the self-sufficiency (net rental income) test, widening the buyer pool. Financing eligibility subject to buyer qualification. Offering memorandum with rent roll and expense detail available on request.
Property Specifics
| Multi-unit | |
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| 1897 | |
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| No | |
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| Cook | |
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| 12697348 | |
| 16241020030000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 17 Mar, 2010 | Sold | $18,000 | MRED MLS |
| 12 Feb, 2010 | Under contract | $12,900 | MRED MLS |
| — | Last price change | $17,900 | MRED MLS |
| 30 Nov, 2009 | Listed for sale | $24,900 | MRED MLS |
| 27 Oct, 2022 | Sold | $513,000 | MRED MLS |
| 2 Sep, 2022 | Under contract | $549,900 | MRED MLS |
| 29 Aug, 2022 | Listed for sale | $549,900 | MRED MLS |
| 14 Jul, 2026 | Listed for sale | $630,000 | MRED MLS |
Room Specifics
Total Bedrooms: 12
Bedrooms Above Ground: 12
Bedrooms Below Ground: 0
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Full Bathrooms: 4
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Bathroom in Basement: —
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Other Specifics
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| 3,000 SQ FT | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2010 | $4,222 |
| 2022 | $1,090 |
| 2026 | $10,163 |
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Listing Provided By
Chicago Real Estate Authority
