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Thomas Rasmussen & Julianne Rasmussen

tom@therasmussenteam.com +1(630) 762-3902

$ 499,000

Est. payment | -/mo

8 Beds

3 Baths

Save

$ 499,000

Est. payment | -/mo

Save

8 Beds

3 Baths

Open House

Wed Nov 12, 11:00am - 1:00pm

Fri Nov 14, 12:00pm - 2:00pm

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12497730

Style Other

Bedrooms 8

Year Built 1890

Annual Tax Amount $3,811

Tax Year 2023

Lot Dimensions 3125

Property Sub-Type Two to Four Units

Property Description

SUPER AFFORDABLE Opportunity with LOW Property taxes: $3,811 without a homeowner's exemption! Fully gut-rehabbed, permitted LEGAL 2-FLAT with 3 finished income-producing units in Chicago's rapidly appreciating West Side corridor. Conservative three-bedRM Rental comp located at 2921 W Jackson | MLS#12338227 | 3bed/1bath | rented for $1,900. Two-bedrm rental comp:3328 W Congress Pkwy, Unit 1 | MLS# 12440357 | rented for $1,995. Conservative Estimated Monthly Rental Income: $1900+1900+1800 (not including parking spaces) $5,600 |Estimated Annual Rental Income: $67,200. This classic Chicago red-brick building offers timeless curb appeal, solid masonry construction, and architectural elements investors and tenants love; 10-ft ceilings, redesigned open-concept floor plans, oversized windows, and restored character balanced with modern upgrades. The property features three turnkey units (1st & 2nd floor units: 3bd/1ba + basement: 2bd+den/1ba). Each unit has been fully updated with brand-plumbing, electrical, separate furnaces, separate water heaters, individual electrical panels, and in-unit washer/dryer hook-ups. Designed for maximum efficiency to support tenant comfort, minimize vacancies, and streamline property management. Stylish modern finishes, redesigned layouts, and move-in-ready condition make this asset ideal for securing premium rents. Spacious rear decks extend the living space, adding tenant appeal and additional value. Located in a highly appreciating West Side neighborhood positioned for continued rental demand and property value growth, with proximity to downtown, transit, major expressways, medical district expansion, and ongoing regional investment. As rents rise and redevelopment continues throughout surrounding communities, this building offers both strong cash-flow potential and long-term appreciation upside. Whether you're an investor seeking a completely rehabilitated, low-maintenance asset, or an owner-occupant looking to house-hack with major rental income, this property delivers the perfect blend of historic character, modern efficiency, and scalable income potential. A rare turnkey multi-unit opportunity not to be missed.

Location

State IL

County Cook

Area Chi - East Garfield Park

Zoning MULTI

Rooms

Basement Finished, Full

Interior

Heating Natural Gas

Equipment CO Detectors, Water Heater-Gas

Fireplace N

Exterior

Community Features Water Rights, Curbs, Gated, Sidewalks, Street Lights, Street Paved

Roof Type Rubber

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Brick

New Construction false

Schools

Elementary Schools Jensen Elementary School Olastic

Middle Schools Jensen Elementary School Olastic

High Schools Manley Career Academy High Schoo

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition REO/Lender Owned

Listed by Karla Mina of MPower Residential Brokerage LLC

GET MORE INFORMATION

Thomas Rasmussen & Julianne Rasmussen

Broker-Associate | Lic# 475.112457 | 475.200942

tom@therasmussenteam.com

+1(630) 762-3902

325 South Street, Geneva IL 60134

3037 W Lexington ST Chicago, IL 60612

Thomas Rasmussen & Julianne Rasmussen

Open House

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

3037 W Lexington ST