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About the Listing 88321 - 180691,1012571
Turnkey 4-unit brick greystone, fully gutted and rebuilt in 2020, offering four spacious 3-bedroom /1-bath units (12 bedrooms total) plus a finished walkout garden level and two exterior parking spaces. Steps from Douglass Park and the Pink Line, and minutes to the Illinois Medical District, the West Loop, and I-290 - a location drawing steady renter demand and sustained investor interest along the revitalizing Ogden corridor. Each unit was rebuilt with modern kitchens, updated baths, and separate mechanicals, positioning the building for immediate lease-up at current market rents. Comparable renovated 3-bedroom units in North Lawndale are leasing in the $1,500-$1,800 range, giving a new owner a clear path to strong, stabilized cash flow with value-add upside on any below-market unit. Tax advantage: The 2025 assessment was successfully appealed at the Cook County Board of Review, reducing the assessed value from 50,400 to 40,174 - roughly a 20 pct reduction and an estimated annual savings of about $2,000. Post-appeal real estate taxes are projected in the ~$7,600-$8,100 range, materially lowering carrying costs and directly improving NOI for an income-focused buyer. Ideal for an investor seeking stabilized West Side cash flow or an owner-occupant house-hacker. As a 4-unit, the building qualifies for the Fannie Mae 5 pct-down owner-occupant program (2-4 units), which - unlike FHA - does not require the property to pass the self-sufficiency (net rental income) test, widening the buyer pool. Financing eligibility subject to buyer qualification. Offering memorandum with rent roll and expense detail available on request.
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
12697348
Year Built
1897
Total Square Footage
0
Lot/Acreage
3,000 SQ FT
Interior Details
- Bedrooms: 12
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Full,Walk-Out Access
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 2
- Lot Dimensions: 3,000 SQ FT
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Yes,Owned
Financial Details
- Tax Amount: $10,163
- Taxes w/Assessments: N/A
- Tax/Property ID: 16241020030000
- Tax Year: 2024
Payment Calculator
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Questions About..
1307 S Kedzie Ave Chicago, IL 60623
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