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$ 300,000
Est. payment /mo
Price Dropped by $66K
1621 S Lawndale Avenue Chicago, IL 60623
UPDATED:
12/24/2024 06:07 AM
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12158115
Year Built 1905
Annual Tax Amount $3,631
Tax Year 2022
Lot Dimensions 24X125
Property Description
Welcome to a prime investment opportunity in the heart of North Lawndale! This vacant 6-unit multifamily property, located at 1621 S Lawndale Ave, offers tremendous potential for savvy investors seeking to revitalize and maximize their real estate portfolio. Situated in a historic neighborhood with a rich cultural heritage, this property is a blank canvas awaiting transformation into a lucrative income-producing asset. Property Features: Unit Configuration: Currently vacant, the property has the potential to feature (3) three bedroom units and (3) two-bedroom units. Renovation Opportunity: This property is in need of renovation, making it the perfect project for investors looking to add value and boost rental income. With a creative vision and investment in modern amenities, you can transform this property into a highly desirable living space. Desirable Location: Nestled in the North Lawndale neighborhood, this property benefits from its proximity to essential amenities, public transportation, and local attractions. Residents will appreciate the convenience of nearby parks, schools, and shopping centers. Income Potential: Once renovated, this multifamily property has the potential to generate significant rental income. North Lawndale's rental market offers opportunities for attractive rental rates, ensuring a steady cash flow for investors. Historic Charm: North Lawndale is known for its historic architecture and cultural significance. Preserving and enhancing the property's unique features can add to its appeal and value. Don't miss this opportunity to invest in the thriving North Lawndale neighborhood. With the right vision and execution, 1621 S Lawndale Ave can become a cornerstone of your real estate portfolio.
Location
State IL
County Cook
Zoning MULTI
Interior
Cooling None
Fireplace Y
Exterior
Utilities Available Sanitary Sewer, Water-Municipal
View Y/N true
Building
Foundation Brick/Mortar
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Christopher Anthony • Keller Williams ONEChicago