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$599,999
Est. payment /mo
8 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12693528
Bedrooms 8
Year Built 1928
Annual Tax Amount $8,337
Tax Year 2024
Lot Dimensions 3125 SQ FT
Property Sub-Type Two to Four Units
Property Description
Fully renovated in 2022, this turnkey all-brick 4-unit in Chatham is a rare owner-occupant house-hacking opportunity. The building offers four spacious 2-bedroom, 1-bathroom units, each rehabbed in 2022 with updated kitchens, baths, mechanicals, and finishes, leaving no deferred maintenance. Three units are currently leased and producing approximately $4,500 per month in income, with one vacant unit ready for an owner-occupant to move in and house-hack from day one, projected at $1,500 per month. Each unit is separately metered, with tenants responsible for their own utilities, keeping owner expenses low and cash flow strong. As a 4-unit primary residence, owner-occupant buyers may qualify with as little as 5% down, and lenders can count a portion of the existing and market rents toward qualifying income, increasing buying power. Additional features include a full unfinished basement offering storage and expansion potential, natural gas heat, and a 2-car garage. Conveniently located near the 87th Street Red Line and Metra Electric, offering quick access to transit, shopping, and the Dan Ryan. Move into the vacant unit, let the other three cover your mortgage, and start building wealth on Chicago's South Side.
Location
State IL
County Cook
Area Chi - Chatham
Rooms
Basement Unfinished, Full, Walk-Out Access
Interior
Heating Natural Gas
Fireplace N
Exterior
Garage Spaces 2.0
Community Features Curbs, Gated, Sidewalks, Street Lights, Street Paved
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
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Listed by Skyler Lemons of EXIT Strategy Realty