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Sara Latta-Young

saralattayoung@gmail.com +1(815) 685-5090

$ 630,000

Est. payment | -/mo

12 Beds

4 Baths

Save

$ 630,000

Est. payment | -/mo

Save

12 Beds

4 Baths

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12731019

Bedrooms 12

Year Built 1897

Annual Tax Amount $10,163

Tax Year 2024

Lot Dimensions 3,000 SQ FT

Property Sub-Type Two to Four Units

Property Description

Turnkey 4-unit brick greystone, fully gutted and rebuilt in 2020, offering four spacious 3-bedroom /1-bath units (12 bedrooms total) plus a finished walkout garden level and two exterior parking spaces. Steps from Douglass Park and the Pink Line, and minutes to the Illinois Medical District, the West Loop, and I-290 - a location drawing steady renter demand and sustained investor interest along the revitalizing Ogden corridor. Each unit was rebuilt with modern kitchens, updated baths, and separate mechanicals, positioning the building for immediate lease-up at current market rents. Comparable renovated 3-bedroom units in North Lawndale are leasing in the $1,500-$1,800 range, giving a new owner a clear path to strong, stabilized cash flow with value-add upside on any below-market unit. Tax advantage: The 2025 assessment was successfully appealed at the Cook County Board of Review, reducing the assessed value from 50,400 to 40,174 - roughly a 20 pct reduction and an estimated annual savings of about $2,000. Post-appeal real estate taxes are projected in the ~$7,600-$8,100 range, materially lowering carrying costs and directly improving NOI for an income-focused buyer. Ideal for an investor seeking stabilized West Side cash flow or an owner-occupant house-hacker. As a 4-unit, the building qualifies for the Fannie Mae 5 pct-down owner-occupant program (2-4 units), which - unlike FHA - does not require the property to pass the self-sufficiency (net rental income) test, widening the buyer pool. Financing eligibility subject to buyer qualification. Offering memorandum with rent roll and expense detail available on request.

Location

State IL

County Cook

Area Chi - North Lawndale

Rooms

Basement Finished, Full, Walk-Out Access

Interior

Heating Natural Gas

Fireplace N

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

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Scott Siegel of Chicago Real Estate Authority

NEARBY PROPERTIES

+1(815) 685-5090

saralattayoung@gmail.com

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1307 S Kedzie AVE Chicago, IL 60623