4624 Springfield Avenue, Albany Park, Chicago, Illinois 60625
$799,900
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For Sale
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| Status: | Contingent |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 7 |
| Baths: | 0 |
| Year Built: | 1908 |
| Property Taxes: | $5,082 |
| Days On Market: | 11 |
| Lot Size: | 0,07 |
Description
Be captivated by this move-in ready, vacant prime Albany Park 3-flat-a rare investment opportunity! This renovated legal 3-flat is a true gem located on a charming tree-lined street in Albany Park, a vibrant neighborhood celebrated for its cultural diversity, thriving local dining scene, walkable streets, and convenient access to top-rated schools, parks, and public transit. Unit 1 and Unit 2 each offer three bedrooms, with the third bedroom providing flexible space perfect for a home office, nursery, or guest room. Unit 3 is a modern, oversized one-bedroom with versatile flex space that accommodates a spacious living room, dining area, additional storage, and a king-sized bedroom. The property includes 2022 appliances and in-unit washer/dryers in all three units, a 2023 tear-off roof, a 2025 concrete subfloor with vapor barrier in Unit 1, updated electrical and plumbing throughout, closed-cell attic insulation, new copper water service from the street replacing old lead lines, and a brand-new deck on the 3rd floor. Perfect for investors, owner-occupants seeking income, or multi-generational buyers, this rare legal 3-flat offers both modern updates and long-term appeal in a neighborhood where such opportunities are hard to secure-schedule your private tour today! Investor special with strong fundamentals. Total rental income of 7,150/month including garage (85,800 annually). Market-standard expenses of approximately $25,000 produce an NOI of about 60,800, supporting a 7.6 cap rate at the $799,000 list price and a GRM of 9.3. Conservative underwriting includes vacancy, management, and reserves for stability, with modest rent growth offering a pro forma cap rate near 8.5. Strong cash flow and attractive value compared to market averages.
Property Specifics
| Multi-unit | |
| — | |
| — | |
| 1908 | |
| — | |
| — | |
| No | |
| 0.07 |
| Cook | |
| — | |
| — / — | |
| — | |
| — | |
| — | |
| 12495167 | |
| 13141080350000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 31 Jan, 2022 | Sold | $295,000 | MRED MLS |
| 15 Jan, 2022 | Under contract | $314,900 | MRED MLS |
| — | Last price change | $324,900 | MRED MLS |
| 10 Dec, 2021 | Listed for sale | $324,900 | MRED MLS |
| 16 Jun, 2023 | Sold | $710,000 | MRED MLS |
| 17 May, 2023 | Under contract | $729,000 | MRED MLS |
| 15 May, 2023 | Listed for sale | $729,000 | MRED MLS |
| 22 Oct, 2025 | Under contract | $799,900 | MRED MLS |
| 14 Oct, 2025 | Listed for sale | $799,900 | MRED MLS |
Room Specifics
Total Bedrooms: 7
Bedrooms Above Ground: 7
Bedrooms Below Ground: 0
Dimensions: —
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Full Bathrooms: 3
Bathroom Amenities: Double Sink,Soaking Tub
Bathroom in Basement: 0
Rooms: —
Basement Description: —
Other Specifics
| 2 | |
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| — | |
| — | |
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| 25X125 | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2022 | $4,802 |
| 2023 | $4,842 |
| 2025 | $5,082 |
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Listing Provided By
@properties Christie's International Real Estate
