1842 S Saint Louis Avenue Chicago, IL 60623
Open House
- Sat, Oct 19: 3pm-6pm
Presenting this fantastic Investment Opportunity in the vibrant North Lawndale Neighborhood. This spacious Refurbished Legal 2-Flat Greystone with three rental opportunities features two units with 4bedrooms/1bath each and a finished 2bed/1bath Lower Level in-Law unit that has a front & rear egress. Whether you're looking to make this your forever home or invest in a rental opportunity, this building with LOW TAXES ($2, 540 W/OUT a Homeowner's Exemption) offers tremendous potential. With no current tenant leases, the income-generating potential is wide open for investors. Healthy Rental Comps show low market times and up to $2, 583 for a 4bed/1bath rental without parking. See MLS#:11955268 for similar sized comparable rental located at 1635 S Central Park. A great comparable for a 2bed/1 bath Rental is located at 1915 S Avers (MLS#:12026088). This unit rented for $1, 650 in two days. Making the estimated Monthly Rental Yield $6, 816 and $81, 792 annually. 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 & in-unit washer & dryers. Please note: seller does not warrant the legality of the in-law garden unit. However, the property is located in one of the five ADU pilot areas, the "West Zone." Apply for a Additional Dwelling Unit zoning change at www*chicago*gov/adu to add the lower level as a legal ADU and further increase value. COMPETITIVE ADVANTAGE: Your tenants will love our spacious living spaces with separate dining rooms, eat-in kitchens and the BRAND NEW decks. 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. This is your end of Summer Must Have! If you've been debating whether to buy or not, this is your sign to DO IT!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyCook
- Taxes$2,540
- HOA/Condo/Coop Fees$0
- Days on Site2 Days
- MLS StatusActive
- MLS ID Number12187061
- Home Size Source N/A
- Year Built1898
- Lot Size0.07 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Greystone
- Parking Off AlleyOff StreetAlley Access
- Parking Spaces 2
- Sewer Public Sewer
- Basement Full
- Acreage 0.07
- Water Public
- Property Sub Type Multi Family
- Foundation Concrete Perimeter
- Zoning MULTI
- General Information None
- Rooms Total 16
- Lot Size Less Than .25 Acre
- Lot Features Corner LotFenced Yard
- Parking Total 2
Interior Features
- Heating Natural GasForced Air
Exterior Features
- Roof Rubber
- Waterfront Property No
- Exterior Deck
- Lot Corner LotFenced Yard
- Other Structures None
Community Features
- Township West Chicago
- Community Features CurbsGatedSidewalksStreet LightsStreet Paved
- MLS Area CHI - North Lawndale