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John Greene Realtor

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

$ 485,000

Est. payment -/mo

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203 N Leamington AVE Chicago, IL 60644

8 Beds

3 Baths

3,049 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12314738

Style Other

Bedrooms 8

Year Built 1910

Annual Tax Amount $2,742

Tax Year 2023

Lot Size 3,049 Sqft

Lot Dimensions 26 X 125

Property Sub-Type Two to Four Units

Property Description

OUTSTANDING - PROFESSIONALLY MANAGED - TURNKEY INVESTMENT OPPORTUNITY! This legal 3-flat is the high-performing asset you've been manifesting, generating an impressive $56,100 in annual rental income with low operating costs. The landlord's responsibilities are minimal, limited to water, landscaping, snow removal, and an incredibly low annual tax bill of just $2,742.67 (without exemptions). Also, the seller's mortgage interest rate of 2.25% can be assumed by the buyer using Roam. Professionally managed and meticulously maintained, this brick beauty offers separate gas and electric meters, individual tankless water heaters, and central heating & cooling in every unit, ensuring that tenants cover all utilities. Because the cost of doing business is everything when it comes to multi-family ownership, we have covered all the essentials; including a coin operated washer & dryer which collects about $300 to $350/mo; basically covering the water & maintenance bill. This Income-producing building has had zero vacancies in the last three years. The reason is very simple: each unit was refurbished with a seamless blend of modern elegance and functionality. Spacious kitchens equipped with dishwashers, microwave, upgraded stoves and refrigerators. The three spacious bedrooms offer our residents space to grow, entertain and lounge. The 2nd & 3rd units have separate dining and living rooms, updated kitchens with granite countertops, stainless steel appliances, and space for a breakfast table, this property is designed for maximum tenant appeal. The legal main-level 2-bed/1-bath unit boasts a modern kitchen with newer appliances and newer flooring. Recent upgrades include a brand-new (2024) tear-off roof, gated entry, and a coin-operated laundry in the lower level for added convenience to your residents and income to your budget. The fully rented detached 2-car garage rounds out this highly desirable investment. Located in the sought-after Austin neighborhood, close to parks, shopping, and public transit, this fully leased, income-generating property is the perfect addition to any investor's portfolio or owner-occupant landlord.

Location

State IL

County Cook

Area Chi - Austin

Zoning MULTI

Rooms

Basement Full

Interior

Heating Natural Gas, Forced Air

Equipment CO Detectors, Multiple Water Heaters, Water Heater-Gas

Fireplace N

Exterior

Exterior Feature Storms/Screens

Parking Features Detached

Garage Spaces 2.0

Community Features Curbs, Gated, Sidewalks, Street Lights, Street Paved

Roof Type Flat

Building

Lot Description Fenced Yard

Dwelling Type Two to Four Units

Sewer Public Sewer

Water Lake Michigan, Public

New Construction false

Schools

Elementary Schools Spencer Elementary School Math &

Middle Schools Marshall Middle School

High Schools Marshall Metropolitan High Schoo

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Karla Mina • MPower Residential Brokerage LLC