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708 W Melrose Street, Chicago, IL 60657

$899,900
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Featured Listing Active
BEDS5 BATHS3 full MLS#11655247
STATUSActive PROPERTY TYPEMulti Unit - Multiple SCHOOLDistrict 299

Property Description

LOCATION, LOCATION! 3-UNIT APARTMENT BUILDING IN A PRIME EAST LAKEVIEW LOCATION. Located on a beautiful tree-lined street just 2 blocks from the Lakefront and Express Bus Stop to downtown, 3 blocks to the Red, Brown and Purple Line Stop at Belmont and a plethora of coffee shops, restaurants and shopping as well, there couldn't be a better location in the entire city. Building has great tenants although rents are below market value so there's a lot of room for improved cash flow with projected yearly market rents of around $78,000 or more without making any improvement and well over $80,000 with cosmetic upgrades. It would make a fantastic property for investor buyers looking to rent and hold in an A+ neighborhood, live-in owners, or redevelopment to a single-family home, new construction or for building out your dream 3BR, 2BTH duplex and having rental income to pay the mortgage. So many possibilities with this property. All units have their own HVAC systems and are separately metered and paying their own gas and electric bills so owner's costs are minimal. Beautiful, serene and very private backyard with shared paver patio for all to enjoy. Very clean basement offering further storage, and a common laundry room. Mechanicals have been recently updated.

708 W Melrose Street | MLS# 11655247

This multi-family property located at 708 W Melrose Street, Chicago, IL 60657 is currently listed for sale by Baird & Warner, with an asking price of $899,900. W Melrose Street is located within the District 299 school district. Search Chicago real estate on www.bwnewclientcare.com today.

Property Features

Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Full, Walkout
Heating: Natural Gas, Forced Air
Home Style: Victorian
Lot Size: 0.05 Acres
Roof Type: Asphalt
Taxes: $15,895
Year Built: 1863

Feature Descriptions

Additional rooms: Enclosed Porch, Utility Room-Lower Level
Bath Features: Soaking Tub
Days on Site: 39
Exterior: Frame
Lot: Fenced Yard
Lot Dimensions: 25X103
Other Equipment: Water Heater-Gas
Parcel#: 14213110420000
Sewer: Public Sewer
Total Rooms: 10
Township: Lake View
Water: Public

Local Schools

School District: District 299

Listed By / Shown By

Listed By

Agency Name: Baird & Warner
Agent Name: Michael Hall
Agency Phone: 773-697-5555

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Estimated Payment

$ 5,364.22 per month $3,777.17 Principal & Interest $1,324.58 Property Tax $262.47 Homeowner's Insurance

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Location

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