Homes for sale - 5005 W Chicago AVE, Chicago, IL 60651

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John Greene Realtor

[email protected] +1(630) 820-6500

$ 349,900

Est. payment -/mo

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Active

5005 W Chicago AVE Chicago, IL 60651

5 Beds

UPDATED:

11/15/2024 03:27 AM

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12196671

Bedrooms 5

Year Built 1898

Tax Year 2023

Lot Dimensions 3150

Property Description

Massive Equity Opportunity in South Austin! This is an ideal chance for both owner-occupants and investors with a potential cap rate of 7-9% to build instant equity in a rapidly appreciating neighborhood. This spacious 2-unit property, with a bonus non-conforming basement, has huge potential. Major updates have been completed, including a brand new tear-off roof, siding, water heaters, plumbing, and furnaces, leaving only cosmetic updates and appliances for you to add value and create built-in equity. The main level unit features 3 bedrooms, a spacious living room, separate dining room, and sizable kitchen, while the upper level offers 2 bedrooms, a large walk-in closet, and great storage. Live in one unit and rent the other, plus the basement with 2 bedrooms and a full bathroom, for even more income opportunities. Owner-occupants benefit from a $20,000 forgivable grant, requiring just $1,000 to close, with options to layer additional grants through your preferred lender. Note: Certain areas may need finishing touches, making it ideal for buyers ready to customize and maximize value. Located in the heart of South Austin's thriving market, this property is in a transforming neighborhood with rising home values and strong equity growth. Don't miss this high-potential opportunity-schedule your tour today!

Location

State IL

County Cook

Area Chi - Austin

Rooms

Basement Full

Interior

Heating Natural Gas, Forced Air, Sep Heating Systems - 2+

Equipment Ceiling Fan(s), Multiple Water Heaters

Fireplace N

Exterior

Exterior Feature Deck

Community Features Park, Sidewalks, Street Paved

Waterfront false

Building

Dwelling Type Two to Four Units

Sewer Public Sewer

Water Lake Michigan, Public

New Construction false

Schools

Elementary Schools Nash Elementary School

Middle Schools Nash Elementary School

High Schools Marshall Metropolitan High Schoo

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Amy Wu • Keller Williams Success Realty