3037 Lexington Street, East Garfield Park, Chicago, Illinois 60612
$499,000
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For Sale
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| Status: | New |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 8 |
| Baths: | 0 |
| Year Built: | 1890 |
| Property Taxes: | $3,811 |
| Days On Market: | 1 |
| Lot Size: | 0,00 |
Description
SUPER AFFORDABLE Opportunity with LOW Property taxes: $3,811 without a homeowner's exemption! Fully gut-rehabbed, permitted LEGAL 2-FLAT with 3 finished income-producing units in Chicago's rapidly appreciating West Side corridor. Conservative three-bedRM Rental comp located at 2921 W Jackson | MLS#12338227 | 3bed/1bath | rented for $1,900. Two-bedrm rental comp:3328 W Congress Pkwy, Unit 1 | MLS# 12440357 | rented for $1,995. Conservative Estimated Monthly Rental Income: $1900+1900+1800 (not including parking spaces) $5,600 |Estimated Annual Rental Income: $67,200. This classic Chicago red-brick building offers timeless curb appeal, solid masonry construction, and architectural elements investors and tenants love; 10-ft ceilings, redesigned open-concept floor plans, oversized windows, and restored character balanced with modern upgrades. The property features three turnkey units (1st & 2nd floor units: 3bd/1ba + basement: 2bd+den/1ba). Each unit has been fully updated with brand-plumbing, electrical, separate furnaces, separate water heaters, individual electrical panels, and in-unit washer/dryer hook-ups. Designed for maximum efficiency to support tenant comfort, minimize vacancies, and streamline property management. Stylish modern finishes, redesigned layouts, and move-in-ready condition make this asset ideal for securing premium rents. Spacious rear decks extend the living space, adding tenant appeal and additional value. Located in a highly appreciating West Side neighborhood positioned for continued rental demand and property value growth, with proximity to downtown, transit, major expressways, medical district expansion, and ongoing regional investment. As rents rise and redevelopment continues throughout surrounding communities, this building offers both strong cash-flow potential and long-term appreciation upside. Whether you're an investor seeking a completely rehabilitated, low-maintenance asset, or an owner-occupant looking to house-hack with major rental income, this property delivers the perfect blend of historic character, modern efficiency, and scalable income potential. A rare turnkey multi-unit opportunity not to be missed.
Property Specifics
| Multi-unit | |
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| 1890 | |
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| No | |
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| Cook | |
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| 12497730 | |
| 16133090100000 |
Nearby Schools
| NAME: | DISTRICT: | DISTANCE: | |
|---|---|---|---|
|
Grade School
Jensen Elementary School Olastic |
299 | — | |
|
Middle School
Jensen Elementary School Olastic |
299 | Not in DB | |
|
High School
Manley Career Academy High Schoo |
299 | Not in DB | |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 12 Apr, 2024 | Sold | $58,000 | MRED MLS |
| 22 Feb, 2024 | Under contract | $48,000 | MRED MLS |
| 10 Feb, 2024 | Listed for sale | $48,000 | MRED MLS |
| 10 Nov, 2025 | Listed for sale | $499,000 | MRED MLS |
Room Specifics
Total Bedrooms: 8
Bedrooms Above Ground: 8
Bedrooms Below Ground: 0
Dimensions: —
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Dimensions: —
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Full Bathrooms: 3
Bathroom Amenities: Garden Tub
Bathroom in Basement: 0
Rooms: —
Basement Description: —
Other Specifics
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| 3125 | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $3,715 |
| 2025 | $3,811 |
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Listing Provided By
MPower Residential Brokerage LLC
