214 Chicago Avenue
Property Description
Rare investment opportunity in the heart of Oak Park featuring three separate income-producing structures on one property. This unique offering includes a classic brick 3-unit multifamily building, a beautifully updated 3-bedroom 2-bath coach house, and a detached 3-car brick garage-creating multiple income streams and exceptional flexibility for investors or owner-occupants alike. The main building consists of three spacious 3-bedroom, 1-bath apartments, plus a full finished basement with shared laundry facilities and private tenant storage areas. Built with solid brick construction, this classic Chicago-style multifamily property offers the durability, character, and long-term investment appeal buyers seek. Tenants pay their own gas and electric utilities, helping maximize owner efficiency and cash flow. Extensively renovated in 2020, major improvements include new windows, separate HVAC systems for each unit, and a roof in excellent condition. The finished basement is equipped with washers, dryers, and dedicated storage rooms for tenant convenience. The coach house provides tremendous versatility as either a premium long-term rental, owner-occupied residence, or short-term rental opportunity. Recently updated, it features newer flooring, renovated bathrooms, three bedrooms, two full baths, and private in-unit laundry. Its independent layout and modern finishes make it highly desirable for a variety of rental strategies. Adding even more value is the detached 3-car brick garage, offering additional rental income potential or secure owner storage. Ideally located within walking distance of the CTA Green Line, Metra, downtown Oak Park shopping, restaurants, and entertainment, this property combines strong current income with significant long-term appreciation potential in one of the Chicago area's most sought-after communities. Opportunities like this are rare-schedule your private showing today.
Broker Details
LEGACY PROPERTIES, A SARAH LEONARD COMPANY (224) 999-9100
MLS ID: 57952 State License Number: 475207603
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,150,000 |
| Year Built: | 1927 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 11 |
| Number of Bathrooms: | 6 |
ID: 3yd-MREDIL-12646372
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