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34 Properties Within 0.5 miles of: 1502 W Melrose, Chicago

1502 W Melrose
Chicago, IL 60657

  • 8 Beds
  • 4 / 1 Baths
  • Built In 1890
Price

$843,500

Est Payment
$5,648 / month (details)  
Taxes
$12,616  
Beds
8  
Baths
4 / 1  
Rooms
14  
Type
Multi Unit  
Sq. Ft.
n/a  
Lot Size
25X125.25  
Built
1890  
Neighborhood
West Lakeview  
MLS
#10769606
Status
Sold (8/14/2020)

Property Description

Bright & spacious turnkey Southport Corridor 3-unit investment property with two 3-bedroom apartments in front building plus three level 2-bedroom coach house! Exceptionally clean & well-maintained apartments feature vintage charm including hardwood floors, original woodwork & built-in hutches. All units have large eat-in kitchens with dishwashers, microwave ovens & garbage disposals, gas forced air heat and central air. Free shared washer and dryer in front building and private washer/dryer in coach house. Huge back deck with pergola separating front building and coach house is a huge draw for tenants while offering maintenance free landscaping. Easy Zone 383 street parking. Unfinished attic with high ceiling in front building offers potential for expansion and increased rental income. Many recent capital improvements including all 3 water heaters replaced since 2018, coach house AC installed in 2017, New windows on 2nd floor in 2013 & insulation blown into all building walls and attic in 2013. Fantastic location is close to tons of restaurants, nightlife, Whole Foods, Jewel, Target, Wrigley Field, Lake/Belmont Harbor, Southport Corridor, Roscoe Village, Southport Brown Line & Belmont Red, Purple & Brown Lines. Amazing investment opportunity produces $21,400/year in positive cash flow with 20% down payment & 4% interest rate! 7.0 % Cap Rate, 12 % Cash on Cash return!

Property Map

Property Details

Utilities

  • Heating Gas, Forced Air
  • Cooling
  • Water Lake Michigan
  • Sewer Sewer-Public

Additional Information

Payment Calculator

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Principal & Interest
$0
Property Tax
$0
Assessments
$0
Home Insurance
$0
Mortgage Insurance
$0

Listing History

07-03-2020 Listed at $875,000
07-07-2020 Status changed to Under Contract
08-15-2020 Status changed to Closed
08-14-2020 Sold at $843,500
Last Modified 8/15/20 12:18 AM

Nearby Transportation

  • Bus 77 0.1 mi
  • Bus 9 0.1 mi
  • Bus X9 0.1 mi
  • Bus 152 0.4 mi
  • Bus 76 0.6 mi
  • Bus 50 0.6 mi
  • Bus 22 0.7 mi
  • Bus 8 0.9 mi
  • Bus 151 0.9 mi
  • Bus 156 0.9 mi
  • Bus 80 0.9 mi
  • Bus 36 1.1 mi
  • Bus 74 1.1 mi
  • Bus X49 1.1 mi
  • Bus 49 1.1 mi
  • Brown Line 0.2 mi
  • Purple Line 0.7 mi
  • Red Line 0.7 mi
  • ZipCar 0.1 mi
  • I 90 West 1.4 mi
  • I 94 West 1.4 mi
  • I 90 East 1.4 mi
  • I 94 East 1.4 mi
  • I 290 West 4.5 mi
  • I 290 East 4.5 mi
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