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Open House Times
- Sat. Jul. 18 at 1:00pm to 3:30pm
- Sun. Jul. 19 at 11:00am to 1:30pm
About the Listing 88528 - 895458,885131
Incredible Lakeview investment opportunity with RT-3.5 zoning, allowing for two-flats, townhouses, low-density apartment buildings, and single-family homes. Currently generating below market value $7,000/month in rental income with substantial upside through aesthetic renovations and rental increases, this property is being offered as a portfolio of three individual condo PINs, with the potential to convert to a single tax PIN. Constructed in 1994, the 4-story BRICK & BLOCK building features three units totaling 7 bedrooms and 4 bathrooms. Unit #3 is a spacious 3 bed/2 bath duplex-up with vaulted ceilings and streaming natural light - 1,862sqft, Unit #2 is a 2 bed/1 bath - 919sqft, and Unit #1 is a 2 bed/1 bath garden-level unit - 907sqft. ALL units feature private rear balconies and are individually metered and include in-unit washer and dryer, central HVAC, and individual water heaters. The property also offers a private fenced backyard and three rear parking spaces on a parking pad. Good long-term tenants who pay on time: Unit #3 rents for $3,300/month through 5/31/27, Unit #2 rents for $1,900/month through 4/30/27, and Unit #1 rents for $1,800/month through 8/31/26. Walk to Jewel Osco, Diversey Train and Buses. Rarely does a cash-flowing, value-add asset with flexible zoning, multiple exit strategies, and long-term redevelopment potential become available in one of Chicago's most sought-after neighborhoods!
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
12705120
Year Built
1994
Total Square Footage
0
Lot/Acreage
25x124
Interior Details
- Bedrooms: 7
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Lake Michigan
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 3
- Lot Dimensions: 25x124
- Zoning: MULTI
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: Yes,Owned
Financial Details
- Tax Amount: $29,814
- Taxes w/Assessments: N/A
- Tax/Property ID: 14291240471003
- Tax Year: 2024
Payment Calculator
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Questions About..
1507 W George St Chicago, IL 60657
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