630 Lorel Avenue, Austin, Chicago, Illinois 60644
$898,000
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For Sale
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| Status: | New |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 12 |
| Baths: | 0 |
| Year Built: | 1923 |
| Property Taxes: | $7,835 |
| Days On Market: | 0 |
| Lot Size: | 0,00 |
Description
Rare opportunity to acquire a high-performing, turnkey 4-unit brick building on an oversized 50x133 lot with two 2-car garages. Very desirable layout with 2 units on each side of the building. Exceptionally well-maintained and meticulously kept with strong, long-term tenants and pride of ownership throughout. All units are spacious 3BR/1BA with updated kitchens and baths, in-unit washer/dryers, hardwood floors throughout, tall ceilings, large living areas, and ample closet space-highly attractive layouts for tenant retention and rental growth. Building includes circuit breaker electrical, central air and heat, with 3 furnaces and 4 A/C condensers (approx. 4 years old), minimizing near-term capital expenses. Expansive rear porches and a tall, full basement with separate entrances on both sides. The basement includes 4 built-out storage units and offers significant value-add potential for duplex-down or additional units. Property features a new sidewalk and is fully gated for added security. Strong in-place income: $7,055/month and a low operating expenses, making this a compelling cash-flowing asset in today's market. Positioned near Chicago Ave with major ongoing development, including the $37.5M Laramie Bank redevelopment just one block north-driving long-term appreciation and rental demand. Ideal for investors seeking strong cash flow, minimal deferred maintenance, and clear upside potential. Opportunities like this are limited!
Property Specifics
| Multi-unit | |
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| 1923 | |
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| No | |
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| Cook | |
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| — / — | |
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| 12592879 | |
| 16091100290000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 2 Nov, 2021 | Sold | $390,000 | MRED MLS |
| 22 Sep, 2021 | Under contract | $370,000 | MRED MLS |
| 16 Sep, 2021 | Listed for sale | $370,000 | MRED MLS |
| 18 Mar, 2026 | Listed for sale | $898,000 | MRED MLS |
Room Specifics
Total Bedrooms: 12
Bedrooms Above Ground: 12
Bedrooms Below Ground: 0
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Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: 0
Rooms: —
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Other Specifics
| 4 | |
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| 50x133.97 | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2021 | $5,663 |
| 2026 | $7,835 |
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Listing Provided By
@properties Christie's International Real Estate
