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$375,000
Est. payment /mo
7 Beds
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12507038
Style Greystone
Bedrooms 7
Year Built 1903
Annual Tax Amount $2,117
Tax Year 2023
Lot Dimensions 25 x 139
Property Sub-Type Two to Four Units
Property Description
Classic Chicago Greystone two-flat in the fast-rising West Garfield Park, delivered with full architectural plans, drawings, and permits-a rare, high-upside opportunity nearly ready for completion. Featuring a newer roof with a fresh layer on top, all-new plumbing (city-passed), and all-new electrical (awaiting final city approval), this property offers peace of mind and major value-add potential. Each spacious unit-4BR/2BA up and 3BR/2BA down-spans approximately 1,600 sq ft with soaring ceilings, gleaming new hardwood floors, updated bathrooms, and washer/dryer hookups in every unit, including the basement, a feature tenants love for convenience and modern living. The walkout basement (approx. 2,100 sq ft with 7.5-ft ceilings and a full bath) is primed for finishing as a duplex-down or legal third unit to unlock additional income and expand total living space-perfect for a 203(k) buyer looking to finish the basement and live in it while the top two units cover or even eliminate most monthly mortgage and expenses. The home requires only minimal work to complete, with kitchen cabinets and materials for Unit 1 included, and boasts strong fundamentals and upside. After-repair value (ARV) is estimated at $456,000 as a two-unit and $505,000 with a finished basement, based on comparable sales within the past six months and within a one-square-mile radius. Pro-forma rents show strong demand, with average 4BR/2BA units renting for $2,350/month and 3BR/2BA units for $1,892/month, both based on leased units within the past 12 months and within a one-mile radius. Additional highlights include a two-car garage, convenient access to I-290 and CTA, and proximity to the United Center redevelopment zone, where investment and property values continue to climb. The seller, a professional remodeling contractor, is not distressed-just focused on other projects-and is offering a rare $10,000 closing credit, making this an ideal opportunity for house hackers and smart investors seeking a turn-key Greystone with minimal work left and maximum equity upside in one of Chicago's most promising neighborhoods.
Location
State IL
County Cook
Area Chi - West Garfield Park
Rooms
Basement Unfinished, Full, Walk-Out Access
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
Garage Spaces 2.0
Building
Dwelling Type Two to Four Units
Building Description Brick,Stone, No
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Brick,Stone
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Michael Applegate of Straight-A Realty, LLC
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