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$ 980,000
Est. payment | /mo
$ 980,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12171959
Maintenance Fees $3,487
Year Built 1892
Annual Tax Amount $9,078
Tax Year 2023
Lot Dimensions 50X161
Property Sub-Type Multi Family 5+
Property Description
Nestled in the heart of Chicago's rapidly growing Washington Park neighborhood, this fully occupied, six-unit building offers a blend of stable cash flow and exceptional future potential. Located near the University of Chicago and the expansive Washington Park, this property is positioned to benefit from the area's ongoing development, including the future Obama Presidential Center. With property values steadily rising, this investment represents a rare opportunity for savvy investors. Boasting a classic stone facade and a grand marble entryway, this well-maintained building exudes timeless charm. Each of the six spacious 3-bedroom, 1-bath units spans 1,800 square feet, featuring high ceilings, formal dining rooms, real pantries, private back decks, and beautiful bay windows that flood the interiors with natural light. Hardwood floors and well-kept common areas add to the appeal, ensuring tenant satisfaction and full occupancy. Additionally, the building generates extra income through coin-operated laundry facilities and offers gated parking with a two-car brick garage. With a solid 10% cap rate and a history of long-term tenants, this property is a proven income generator. For investors looking to maximize returns, there is untapped potential in the lower level, where a 7th and possibly 8th unit could be developed, both areas have ingress and egress access. Updates include a 2011 boiler to enhance the property's efficiency. The seller is open to discussing owner financing terms, thereby expandng this armchair investment opportunity to the widest pool of entrapenurs. This is your chance to make this Washington Park money maker work for you.
Location
State IL
County Cook
Area Chi - Washington Park
Zoning MULTI
Interior
Fireplace N
Exterior
Utilities Available Sanitary Sewer, Water-Municipal
Building
Dwelling Type Multi Family 5+
Level or Stories 3
Structure Type Brick
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Paul Frischer • Berkshire Hathaway HomeServices Chicago
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Sarah Leonard
Broker | Owner