1541 W Highland Avenue, Chicago, Illinois 60660
- $799,000
- 6
- BD
- 4
- BA
- Sold Price
- $799,000
- List Price
- $799,000
- Closing Date
- Jul 25, 2025
- MLS#
- 12371418
- Status
- CLOSED
- Type
- Multifamily
- Subtype
- Residential Income
- Bedrooms
- 6
- Bathrooms
- 4
- Gross Rental Income
- $5750/MONTH
- County
- Cook
- City
- Chicago
- Neighborhood
- Edgewater
- Days On Market
- 5
Property Description
Incredible opportunity for a savvy buyer. This well maintained 2-flat can be a turnkey investment. Or this building could be an amazing alternative in the super competitive single-family home market. Current total monthly income of $5,750/month and a 7% cap rate. BUY IT NOW, EARN INCOME AND MOVE IN NEXT YEAR. Unit #2 is a beautifully remodeled top floor duplex that features 4 bedrooms, 2 full bathrooms ($4000/month). It's an owner's unit that truly lives like a SINGLE FAMILY HOME. The central staircase entering the unit opens to an expansive and bright living and dining room. This huge open concept living space with custom wood molding offers both flow and flexibility with plenty of room for a separate dining area, family room, office or reading nook. The first floor hallway leads to a full bathroom across from the 4th bedroom, which can easily double as a home office. The large eat-in kitchen has plenty of counter space and has been tastefully remodeled. The laundry room private to unit 2 also has plenty of storage. The second floor features three bedrooms and a full bathroom with custom cabinetry. The unit was renovated in 2013 to have modern functionality while maintaining its original charm. Unit #1 is a duplex down ($1750/month) with long-term tenants that features 2 bedrooms and 2 bathrooms. The unit entrance opens into a large living/family room. The primary bedroom is across from the first full bathroom. At the rear of the unit is a large eat-in kitchen. The lower level is a sprawling family room that the current tenants use as another bedroom with a full ensuite bathroom. TENANTS PAY ELECTRIC/GAS. The owner only pays for water, trash and insurance. Each unit has their own laundry room. Lots of storage! CENTRAL AC/HEAT for both units. 2-car garage. Owner has taken excellent care of the property. Both units are leased through August 2026. See additional details for projections of cash flows. With 20%+ down payment, the building will have immediate POSITIVE CASH FLOW. Buy now, earn a return, move in 2026. The location is fantastic. Close to the new Metra Station, 22 bus, CTA Red line. A fifteen minute walk down to ANDERSONVILLE and a fifteen minute walk to the lake. Cozy Corner, Devon Market, Sauce and Bread Kitchen and tons of other charming neighborhood spots are right outside your door. Welcome home!
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Additional Information
- School District
- 299
- Corporate Limits
- Chicago
- Tax Year
- 2023
- Tax Exemptions
- Homeowner
- Tax Amount
- $8,162
- Year Built
- 1910
- Lot Dimensions
- 25X110
- Lot Size Range
- Less Than .25 Acre
- Units
- 2
- Garage Spaces
- 2
- Parking Spaces
- 2
- Parking Details
- Garage Door Opener, On Site, Garage Owned, Detached, Garage
- Heating
- Natural Gas, Forced Air
- Sewer
- Public Sewer
- Basement
- Yes
- Total Rental Income
- $5750/MONTH
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Selling Office: Compass.
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