545 N Drake AVE Open House

Chicago,IL 60624

$ 575000

10 Beds

5 Baths

- SqFt


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

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