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$575,000

Est. payment - /mo

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10 Beds

5 Baths

3,049 Sqft Lot

Open 9/28 1PM-3PM

545 N Drake AVE Chicago, IL 60624

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

Open House

Sun Sep 28, 1:00pm - 3:00pm

UPDATED:

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

Lot Dimensions 25 X 125

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

Rooms

Basement Finished, Exterior Entry, Full, Walk-Out Access

Interior

Heating Natural Gas, Forced Air

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 Michael Applegate of Straight-A Realty, LLC

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106