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About the Listing 16379 - 131372
Rare opportunity to acquire a high-performing, turnkey 4-unit brick building on an oversized 50x133 lot with two 2-car garages. Very desirable layout with 2 units on each side of the building. Exceptionally well-maintained and meticulously kept with strong, long-term tenants and pride of ownership throughout. All units are spacious 3BR/1BA with updated kitchens and baths, in-unit washer/dryers, hardwood floors throughout, tall ceilings, large living areas, and ample closet space-highly attractive layouts for tenant retention and rental growth. Building includes circuit breaker electrical, central air and heat, with 3 furnaces and 4 A/C condensers (approx. 4 years old), minimizing near-term capital expenses. Expansive rear porches and a tall, full basement with separate entrances on both sides. The basement includes 4 built-out storage units and offers significant value-add potential for duplex-down or additional units. Property features a new sidewalk and is fully gated for added security. Strong in-place income: $7,055/month and a low operating expenses, making this a compelling cash-flowing asset in today's market. Positioned near Chicago Ave with major ongoing development, including the $37.5M Laramie Bank redevelopment just one block north-driving long-term appreciation and rental demand. Ideal for investors seeking strong cash flow, minimal deferred maintenance, and clear upside potential. Opportunities like this are limited!
Listing Highlights
Status
Active
Days on Site
19
Property Type
Multi-Family
MLS ®
12592879
Year Built
1923
Total Square Footage
0
Lot/Acreage
50x133.97
Interior Details
- Bedrooms: 12
- Bathrooms: 4 Full
- Appliances: CO Detectors
- Air Cond:
- Heating: Natural Gas,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished,Exterior Entry,Storage Space,Full
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Garage Capacity: 4 car
- Parking Spaces: 4
- Lot Dimensions: 50x133.97
- Roof: Rubber
- Others:
- Sewer: Public Sewer
- Parking Features: Garage Door Opener,Garage,Yes,Garage Owned,Detached
Financial Details
- Tax Amount: $7,835
- Taxes w/Assessments: N/A
- Tax/Property ID: 16091100290000
- Tax Year: 2024
Payment Calculator
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Questions About..
630 N Lorel Ave Chicago, IL 60644
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