4221 N Saint Louis Avenue Chicago, IL 60618

1 / 24

View all 24 Photos

Map

Presenting this Fantastic Estate Sale in the well established Old Irving Park Neighborhood. This Jumbo, Traditional Chicago-yellow brick two-flat sits on an oversized 37.4 X 125.5 lot with a HUGE Brick Garage for 3 (or 4 cars, if parked in tandem). Lease garage spaces for additional income or turn space into a coach house (ADU). This is your end of Summer Must Have! The cost of doing business is everything when it comes to multi-family ownership. That is why we covered all the essentials; all units have separate heating & cooling. The 1s floor electricity is combined with basement, however, all units have separate gas. Add new meter to separate. If you've been debating whether to buy or not, this is your sign to DO IT! This property is perfect for those looking to live in a thriving community while tenants cover the mortgage. The first and Second floor units offer three very generous sized bedrooms, a separate dining room, an eat-in kitchen with space for a table and a very bright/spacious living room with decorative fireplaces. See floor-plans in photos. Free laundry in the basement, make more lucrative by adding coin operated laundry. Earn immediate income with significant potential for rental growth. Comparable rentals in the area continue to increase, signaling a healthy and sustainable rental market, this property is poised for long-term success. Our long term tenants are on a MTM agreement and have been issued moving notifications, however, the first floor unit is vacant, in case you need to occupy one unit or adjust rents to reflect Current Fair Market Values. All tenants are on MTM leases paying well below fair market rents. The 1st floor is vacant, the 2nd floor yields $1, 800 and the basement yields $850 per month. (ARV) Comp is located at 4515 N Christiana, Unit 2 (MLS#:11977967). This 3bed/1bath apartment rented for $2, 600 in 7 days. The ARV Comp for GARDEN unit is located at 3349 W Cuyler and rented for $1, 795 (MLS#: 11856826). Making the estimated Annual ARV Rental Potential, $83, 940. Please note: seller does not warrant the legality of the inlaw garden unit. COMPETITIVE ADVANTAGE: Tenants love our spacious bedrooms, the rear porches and stairs are enclosed and the detached Oversized Garage and spacious yard further enhance the appeal. This is an ideal opportunity for owner-occupants or investors looking to capitalize on a strong rental market with potential for rental growth and a stable tenant base. Pictured: Unit 1 has hardwood floors underneath tile. Unit 2 has a similar floor plan with hardwood floors. AC condensing units to 1st & 2nd floors are on the roof, and for the garden unit you'll find it on the South Side of the Building. The property has been in the family for many years and has been very well maintained but is being sold "as-is." Buy & hold for an immediate and low-maintenance return on your investment, bring your creativity and take advantage of multiple value-add opportunities, or simply move into one unit while your tenants pay down the mortgage on your amazing new home. The options for this one-of-a-kind property are truly endless! Conveniently located near the Blue Line and Metra, expressway, CTA, grocery, parks & dining. Solid building. Offers encouraged. Schedule your visit today and see why this property stands out as a great investment in a vibrant and sought-after neighborhood.