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Garrett Johnson

homesbygarrett@gmail.com +1(847) 337-1157

$450,000

Est. payment - /mo

5 Beds

3 Baths

5,227 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 12645662

Bedrooms 5

Year Built 1921

Annual Tax Amount $9,044

Tax Year 2024

Lot Size 5,227 Sqft

Lot Dimensions 5391

Property Sub-Type Two to Four Units

Property Description

Excellent investment opportunity in a desirable Northwest Chicago neighborhood. This fully leased, well-maintained building generates $3,500 per month in gross rental income ($42,000 annually), with an estimated net operating income of $26,613.52 and a current cap rate of approximately 5.91%. With only a modest 10% increase in rents, the cap rate would exceed 6.5%, presenting strong upside potential. Additional income is generated from the basement coin laundry (one washer and one dryer), producing approximately $400-$500 annually. Recent improvements include a new roof (2019), new front porch (2019), garden unit remodeled (2018), and Unit 1 remodeled (2020). The property features hardwood floors in the first and second floor units, separate furnaces, and separate electric meters. Units #1 and #2 have tenants paying all utilities, while utilities are included in the rent for the garden unit. The building is fully rented with well-screened, reliable tenants, and units are clean and well-maintained. Additional highlights include easy street parking, outdoor storage sheds, a large fenced yard with a concrete patio, and coin laundry in the basement for supplemental income. Seller makes no representation regarding the legality of the third (garden) unit.

Location

State IL

County Cook

Area Chi - Dunning

Rooms

Basement Finished, Full, Walk-Out Access

Interior

Heating Natural Gas, Forced Air

Fireplace N

Exterior

Roof Type Asphalt

Building

Dwelling Type Two to Four Units

Building Description Aluminum Siding,Frame, No

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Aluminum Siding,Frame

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

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Listed by David Mahoney of Jameson Sotheby's Intl Realty

Nearby School & Business

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Garrett Johnson

+1(847) 337-1157

Agent License ID: 475.188206

3301 N Ozanam AVE Chicago, IL 60634

Garrett Johnson

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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