1842 Saint Louis Avenue, North Lawndale, Chicago, Illinois 60623
$490,000
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Sold
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| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 10 |
| Baths: | 0 |
| Year Built: | 1898 |
| Property Taxes: | $2,540 |
| Days On Market: | 334 |
| Lot Size: | 0,07 |
Description
Presenting this fantastic Investment Opportunity in the vibrant North Lawndale Neighborhood. This spacious Refurbished Legal 2-Flat Greystone with three rental opportunities features two units with 4bedrooms/1bath each and a finished 2bed/1bath Lower Level in-Law unit that has a front & rear egress. Whether you're looking to make this your forever home or invest in a rental opportunity, this building with LOW TAXES ($2,540 W/OUT a Homeowner's Exemption) offers tremendous potential. With no current tenant leases, the income-generating potential is wide open for investors. Healthy Rental Comps show low market times and up to $2,583 for a 4bed/1bath rental without parking. See MLS#:11955268 for similar sized comparable rental located at 1635 S Central Park. A great comparable for a 2bed/1 bath Rental is located at 1915 S Avers (MLS#:12026088). This unit rented for $1,650 in two days. Making the estimated Monthly Rental Yield $6,816 and $81,792 annually. The cost of doing business is everything when it comes to multi-family ownership. That is why we covered all the essentials; all units have separate heating & in-unit washer & dryers. Please note: seller does not warrant the legality of the in-law garden unit. However, the property is located in one of the five ADU pilot areas, the "West Zone." Apply for a Additional Dwelling Unit zoning change at www*chicago*gov/adu to add the lower level as a legal ADU and further increase value. COMPETITIVE ADVANTAGE: Your tenants will love our spacious living spaces with separate dining rooms, eat-in kitchens and the BRAND NEW decks. This is an ideal opportunity for owner-occupants or investors looking to capitalize on a strong rental market with potential for rental growth and a stable tenant base. This is your end of Summer Must Have! If you've been debating whether to buy or not, this is your sign to DO IT!
Property Specifics
| Multi-unit | |
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| 1898 | |
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| — | |
| No | |
| 0.07 |
| Cook | |
| — | |
| — / — | |
| — | |
| — | |
| — | |
| 12187061 | |
| 16234080360000 |
Nearby Schools
| NAME: | DISTRICT: | DISTANCE: | |
|---|---|---|---|
|
Grade School
Crown Elementary School Comm Acd |
299 | — | |
|
Middle School
Crown Elementary School Comm Acd |
299 | Not in DB | |
|
High School
Farragut Career Academy Senior H |
299 | Not in DB | |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 17 May, 2024 | Sold | $215,000 | MRED MLS |
| 25 Apr, 2024 | Under contract | $175,000 | MRED MLS |
| 16 Apr, 2024 | Listed for sale | $175,000 | MRED MLS |
| 12 Dec, 2024 | Sold | $490,000 | MRED MLS |
| 26 Oct, 2024 | Under contract | $475,000 | MRED MLS |
| 12 Oct, 2024 | Listed for sale | $475,000 | MRED MLS |
Room Specifics
Total Bedrooms: 10
Bedrooms Above Ground: 10
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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| 25X125 | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $2,421 |
| 2024 | $2,540 |
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Listing Provided By
MPower Residential Brokerage LLC
