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About the Listing 27034 - 224891
Exceptional investment opportunity with HUGE upward potential in highly sought-after La Grange! This well-maintained all-brick 4-unit building, plus an additional finished basement unit, offers outstanding cash flow and long-term upside in one of Chicago's most desirable suburban rental markets. Ideally located along the Pace bus line and just five blocks from vibrant downtown La Grange, residents enjoy easy access to the Metra station, popular restaurants, boutique shopping, and everyday conveniences-making this a prime location for commuters and renters alike. The property generates approximately $10,000 per month in rental income, with three units occupied by long-term tenants, providing immediate stability and consistent returns. Recent capital improvements include a new roof and most windows have been replaced, helping minimize future maintenance costs. The additional two-bedroom owner's unit has been remodeled with newer flooring and cabinetry and the first-floor three-bedroom, 1.1 bath unit was completely renovated in the last few years with upscale design and modern finishes and is currently rented as a fully-furnished unit. Additional income potential comes from nine total parking spaces, including two rented garage spaces in the brick garage and seven exterior parking spots. Tenants also benefit from on-site coin laundry and extra storage. An HOA was formed by the building owners in this attractive courtyard of properties in order to maintain the driveways and parking area, lawn care and snow removal. The dues are reasonable and allow for a consistent, cared-for appearance throughout without all the extra work. Located within a highly regarded school district and surrounded by strong rental demand, this is a rare opportunity to acquire a turnkey, income-producing asset in an exceptional location. Whether you're expanding your portfolio or seeking a stable investment with strong cash flow, this La Grange multifamily property checks all the boxes.
Listing Highlights
Status
Active
Days on Site
8
Property Type
Multi-Family
MLS ®
12685959
Year Built
1977
Total Square Footage
0
Lot/Acreage
0.25
County
Cook
Neighborhood
Country Club
Area
La Grange
School District
105
Elementary School
Spring Ave Elementary School
Middle School
Wm F Gurrie Middle School
High School
Lyons Twp High School
Interior Details
- Bedrooms: 9
- Bathrooms: 8 Full
- Appliances: Sump Pump
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Partially Finished,Full
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Lot Description: Irregular Lot
- Garage Capacity: 2 car
- Parking Spaces: 9
- Lot Dimensions: 85x170x37x71x46x15x67
- Roof: Asphalt
- Others:
- Sewer: Public Sewer
- Parking Features: Garage Door Opener,Yes,Garage Owned,Attached,Assigned,Owned,Garage
Financial Details
- Tax Amount: $16,924
- Taxes w/Assessments: N/A
- Tax/Property ID: 18091070270000
- Tax Year: 2024
Payment Calculator
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Questions About..
516 S La Grange Rd La Grange, IL 60525
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