BACK ON THE MARKET THROUGH NO FAULT OF THE PROPERTY! PRIOR FHA APPRAISAL: $575,000-$25,000 ABOVE THE $550,000 ASKING PRICE, WITH NO APPRAISER-REQUIRED REPAIRS! The previous FHA buyer reached the week of closing but could not proceed due to an unexpected family medical emergency, completely unrelated to the property, inspection, or… Read More appraisal. Here's a second chance to purchase an exceptional South Shore brick 3-flat offering income from day one, potential built-in equity, and significant room to grow! This well-maintained building features THREE JUMBO approximately 1,700 SF apartments, each with 3 bedrooms and 2 full bathrooms-9 bedrooms and 6 baths total. Enjoy spacious living rooms, formal dining rooms, hardwood floors, generous bedrooms, and layouts rarely found at this price. Fully occupied by established, long-term residents with a consistent payment history; ALL TENANTS PAID OCTOBER 2026 RENT ON TIME! All three tenancies are month-to-month, providing future flexibility subject to applicable tenant rights and notice requirements. INVESTORS: THE RENTAL UPSIDE IS SUBSTANTIAL! A rental comparable analysis identified an approximately $2,037/month average for similar 3-bedroom apartments within one mile, indicating estimated market rent of about $2,000+ per unit. Current rents are below that level and are shown in the unit details; a CHA rent increase has been requested for Unit 2 and is pending approval. Market rent is an estimate, is not guaranteed, and should be independently verified. OWNER-OCCUPANTS: HOUSE HACK! When legally available, occupy one spacious 3-bedroom/2-bath unit and collect rent from the other two to help offset ownership costs. Tenants pay their own gas, heat, and electricity; each apartment has separate forced-air heating and individual controls. The full basement offers tenant and landlord storage, natural-gas basement heat, and coin-laundry facilities as reported in the prior listing. Its size, ceiling height, layout, and access may present an opportunity to investigate additional living space, a garden unit, or ADU, subject to zoning, permits, City approval, and buyer due diligence. An OWNED DETACHED 3-CAR GARAGE adds value! The prior listing reported a newer tear-off main-building roof with transferable warranty and a 2020 tear-off garage roof; buyers should verify. LET'S TALK EQUITY: The previous $575,000 FHA appraisal is $25,000 above today's $550,000 asking price, offering potential immediate equity (not guaranteed). Comparable-market analysis also identified renovated multifamily properties with finished garden space selling in the $700,000+ range-suggesting a potential $150,000+ gross valuation spread versus asking through thoughtful improvements, rent growth, and maximizing existing space. Comparable properties differ and future value is not guaranteed. Located in established South Shore near the lakefront, beaches, schools, shopping, and neighborhood amenities. Whether you're an investor seeking a performing asset or an owner-occupant seeking rental assistance with your mortgage, don't miss this opportunity! NEW SHOWING DATES WILL BE ANNOUNCED as management coordinates with residents to welcome prospective buyers back into the property. Read Less
Courtesy of Straight-A Realty, LLC 630-288-2446
Listing Snapshot
Days Online
82
Last Updated
Property Type
Triplex
Beds
9
Year Built
1929
MLS Number
12740010
Additional Details
Appliances & Equipment
Other equipment: Ceiling Fan(s)
Basement
Unfinished, Full
Building
Built in 1929, Construction Materials: Brick
Exterior Features
Patio/Porch Features: Porch
Garage
3 spaces
Heating
Gas, Forced Air, Sep Heating Systems - 2+, Indv Controls
Lot
Dimensions: 4828 SF
Parking
3 total parking spaces, Garage, Yes, Garage Owned, Detached
Listings courtesy of Midwest Real Estate Data LLC. as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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