5551 Van Buren Street, Austin, Chicago, Illinois 60644
$340,000
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For Sale
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| Status: | New |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 9 |
| Baths: | 0 |
| Year Built: | 1920 |
| Property Taxes: | $5,697 |
| Days On Market: | 4 |
| Lot Size: | 0,09 |
Description
Investor special in Chicago's fast-growing Austin neighborhood! This massive 3-unit building at 5551 W Van Buren Ave is the perfect opportunity for an investor looking to finish a nearly complete project and generate serious cash flow. Each of the three spacious units offers 3 bedrooms, 1 full bath, a large living and dining room combo, kitchen, and dedicated laundry area. The tall-ceilinged basement holds potential for a 4th unit or duplex-down, maximizing your ROI. Plus, the property features a fenced-in yard with gated access and 3 private parking spaces-a rare gem for city living. Demolition has already been completed both inside and out. The heavy lifting is done - now it's time to finish and start cashing in. Upgrades include a brand-new 3-story rear porch built to code, new rear siding, new windows, completed rough plumbing with installed water heaters and sump pump, and framing/structural work approved by the City of Chicago DOB. The third-floor unit is nearly completed, and high-efficiency furnaces are already on site. Remaining work includes electrical installation and cosmetic finishes. New buyer has the flexibility to complete the rehab with the current architect/contractor team or bring their own. With projected rents at $2,000 per unit and ARVs ranging from $525K-$600K, this is your chance to build equity and earn strong rental income. Just blocks from Columbus Park, Austin Town Hall Park, and the Garfield Park Conservatory, and close to Leland Elementary, Michele Clark Magnet High School, and Catalyst Circle Rock Charter School. Easy access to I-290, public transportation, and area retail. Don't miss this value-add investment in a transforming West Side location!
Property Specifics
| Multi-unit | |
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| 1920 | |
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| No | |
| 0.09 |
| Cook | |
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| — / — | |
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| — | |
| 12478320 | |
| 16161170080000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 7 Mar, 2024 | Sold | $269,000 | MRED MLS |
| 20 Feb, 2024 | Under contract | $275,000 | MRED MLS |
| 29 Sep, 2023 | Listed for sale | $275,000 | MRED MLS |
| 24 Sep, 2025 | Listed for sale | $340,000 | MRED MLS |
Room Specifics
Total Bedrooms: 9
Bedrooms Above Ground: 9
Bedrooms Below Ground: 0
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Full Bathrooms: 3
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: —
Other Specifics
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| 4030 | |
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| Not in DB | |
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| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $5,429 |
| 2025 | $5,697 |
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Listing Provided By
Coldwell Banker Realty
