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2237 South Drake Avenue

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Address: 2237 S Drake Ave, Chicago, IL 60623, USA

Chicago & Midwest + Apartment Buildings

Created date: July 14, 2024

Date last updated: September 30, 2024

5-unit brick building, located on a double lot
(4) 1 bed 1 bath plus den and (1) 2 bed 1 bath
Tuckpointed in July 2023, rear deck/porches refurbished in June 2024, vinyl windows
Sewer valve clean out/gutter system in August 2021
2 units renovated in May 2019 and July 2023
Walking distance to Central Park Pink Line

Property Description

An excellent investment opportunity with this 5-unit brick building, situated on a large double lot 50x125 lot in the heart of Little Village. Four of the five units feature 1 bedroom 1 full bath plus a den/office space and a 2 bedroom 1 full bath. All units are equipped with individual furnaces, ensuring personalized heating controls for each tenant. The building has shared coin operated laundry on the first floor. Current rents are 10-15% below market rate, presenting an opportunity for future income growth. There is a plethora of street parking and a large front yard that is shared by all tenants. This property is a prime opportunity for investors looking to capitalize on steady income in Little Village. Do not miss out!

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$495,000
No. of Units:	5
Year Built:	1905
Opportunity Zone:	No
Price per unit:	$99,000
Property Website	Click Here