2444 Sheffield Avenue, Lincoln Park, Chicago, Illinois 60614
$1,490,000
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For Sale
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| Status: | Contingent |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 6 |
| Baths: | 0 |
| Year Built: | 1900 |
| Property Taxes: | $14,953 |
| Days On Market: | 39 |
| Lot Size: | 0,00 |
Description
Turnkey, fully renovated (2023) two-unit investment property in the heart of Lincoln Park, steps from DePaul University, Jonquil Park, Whole Foods, and the Fullerton CTA Red/Brown Line station. This stabilized asset features two updated 3 bed / 3 bath units with modern finishes, strong tenant appeal, and low near-term capital expenditure requirements. Current rents are $3,700 per unit ($7,400/month total), with pro forma market rents projected at approximately $4,200 per unit ($8,400/month total), offering immediate upside through lease renewals or repositioning. Ideal for investors seeking a high-demand rental location with consistent occupancy and strong rental growth fundamentals. Each unit offers spacious layouts, updated kitchens and baths, in-unit washer/dryer, private rear outdoor space, and exterior parking. The full basement provides additional value-add potential for duplex-down expansion, storage income, or further unit enhancement. Recent capital improvements include a complete gut rehab in 2023 and full roof replacement in 2020, significantly reducing deferred maintenance risk. Situated in one of Chicago's most desirable rental submarkets with proximity to the lakefront, Fullerton Beach, Lincoln Park Zoo, and vibrant retail/dining corridors. Zoned RT-4 on a 24 x 120 lot, this is a rare opportunity to acquire a fully renovated, income-producing asset with both in-place cash flow and clear upside potential.
Property Specifics
| Multi-unit | |
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| 1900 | |
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| No | |
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| Cook | |
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| — / — | |
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| 12638319 | |
| 14294220380000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 14 Jul, 2022 | Sold | $680,000 | MRED MLS |
| 14 May, 2022 | Under contract | $790,000 | MRED MLS |
| 26 Apr, 2022 | Listed for sale | $790,000 | MRED MLS |
| 20 May, 2026 | Under contract | $1,490,000 | MRED MLS |
| 4 May, 2026 | Listed for sale | $1,490,000 | MRED MLS |
Room Specifics
Total Bedrooms: 6
Bedrooms Above Ground: 6
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
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Full Bathrooms: 6
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: —
Other Specifics
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| 24 X 120 | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2022 | $13,216 |
| 2026 | $14,953 |
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Listing Provided By
Good Hope Properties LLC
