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Listed by Karla Minaof MPower Residential Brokerage LLC
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Est. payment | /mo
8 Beds
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Est. payment | /mo
8 Beds
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 12796696
Bedrooms 8
Year Built 1983
Annual Tax Amount $10,594
Tax Year 2025
Lot Dimensions 25X125
Property Sub-Type Two to Four Units
Property Description
OVER $200,000 IN IMPROVEMENTS over the last three years! This is not a flip, just a well-managed and exceptionally improved opportunity in Jefferson Park featuring a legal 2-flat with a finished lower level with a summer kitchen, two additional bedrooms and one full bathroom. A rare find! Especially with BOTH upper units offering 3 bedrooms and 1.5 baths. Extensively updated in 2024-2025, this turnkey property delivers the space, condition, and income potential investors and owner-occupants are looking for. Both legal units feature spacious layouts, separate dining rooms, additional kitchen/dining areas, recessed lighting, and beautifully updated kitchens with quartz countertops, stainless steel appliances, and ample cabinetry. Updated bathrooms and modern finishes make these units stand out. The improvements go well beyond cosmetics, including a new roof, windows, gutters, tuckpointing, flooring, kitchens, bathrooms, and an upgraded rooftop deck over the garage-all completed in 2024-2025. Enjoy the benefits of substantial recent investment without the immediate expense of major renovations. The income is already working for you! Unit 1 is leased at $2,650/month, and Unit 2 at $2,400/month, generating $5,050/month or $60,600 annually in current gross rental income. Explore the short-term rental opportunity! AirDNA market data provided by the seller indicates an average daily rate of $116 and 69% occupancy. At those market benchmarks, a qualifying short-term rental could generate approximately $29,200 in gross annual booking revenue for one unit. Actual results will vary, and gross revenue excludes operating expenses. Additional features include rear decks, a rooftop deck over the 2-car garage, shared outdoor space, and coin-operated laundry. Enjoy convenient access to the Kennedy Expressway (I-90/I-94), O'Hare International Airport, and the Jefferson Park transportation hub, with CTA Blue Line and Metra connections. Nearby shopping and everyday conveniences include Jefferson Park Plaza, Gladstone Corners, Mariano's, and Jewel-Osco, along with neighborhood restaurants, cafes, parks, and local businesses.
Location
State IL
County Cook
Community Curbs, Gated, Sidewalks, Street Lights, Street Paved
Zoning MULTI
Rooms
Basement Finished, Full
Interior
Heating Radiator(s)
Fireplace N
Exterior
Garage Spaces 2.0
View Y/N true
Building
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Brick
New Construction false
Schools
Elementary Schools Farnsworth Elementary School
Middle Schools Farnsworth Elementary School
High Schools Taft High School
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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