545 N Drake AVE Open House Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60624
OPEN HOUSE
Sun Sep 28, 1:00pm - 3:00pm
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12475423
Bedrooms 10
Year Built 1890
Annual Tax Amount $2,963
Tax Year 2023
Lot Size 3,049 Sqft
Property Sub-Type Two to Four Units
Property Description
Turnkey 3-unit in Humboldt Park perfect for house-hacking or a savvy investor: the renovated garden 3BD/1BA rents for $1,700/mo via CHA, the 1st-floor 4BD/2BA (excellent condition) is a long-term CHA tenant at $2,281/mo, and the refreshed top-floor "penthouse" with a balcony is vacant and ready for an owner-occupant-let your tenants' $3,981/mo total income help offset your payment. At the current tax basis, well-qualified buyers may see PITI just under $4,000/mo (buyer to verify), making this building nearly pay for itself. Private on-site parking offers added revenue potential, and the coin- & card-operated laundry creates steady ancillary income. All this in a thriving location steps from the namesake 219-acre park and lagoon, close to the 606 Trail, California/Armitage dining, Division Street's cultural corridor, cafes, nightlife, and transit-surrounded by new construction and quality rehabs. A rare opportunity to live on the top floor, build equity, and enjoy one of Chicago's most exciting neighborhoods!
Location
State IL
County Cook
Area Chi - Humboldt Park
Zoning MULTI
Interior
Heating Natural Gas,Forced Air
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
Special Listing Condition None