4028 S King Drive, Chicago, Illinois 60653
- $948,000
- 11
- BD
- 7
- BA
- Sold Price
- $948,000
- List Price
- $975,000
- Closing Date
- Oct 31, 2025
- MLS#
- 12434295
- Status
- CLOSED
- Type
- Multifamily
- Subtype
- Residential Income
- Bedrooms
- 11
- Bathrooms
- 7
- Gross Rental Income
- $7,290
- County
- Cook
- City
- Chicago
- Neighborhood
- Bronzeville
- Days On Market
- 32
Property Description
Historic Grand Boulevard 4-Flat with High Income Potential + Bonus Coach House! Own a piece of Chicago's architectural legacy with this stunning, fully rehabbed 4-flat on iconic King Drive in the heart of historic Grand Boulevard. This 5,600 sq ft gem blends timeless Bronzeville charm with modern updates, offering the perfect combination of luxury, income, and long-term upside. Gut-renovated in 2010 and refreshed in 2022 with new kitchens and bathrooms in Units 1 & 2, this property is fully leased and generating strong, consistent rental income-delivering instant cash flow from day one. Whether you're an investor or owner-occupant, this is a turn-key opportunity with tremendous upside. Each of the four expansive units features soaring 10-foot ceilings, generous layouts, and modern finishes. But the value doesn't stop there-out back, an unfinished coach house offers endless potential. Envision a 2-car garage topped with a 2-bedroom apartment to easily create a fifth income-producing unit and boost your ROI. Location perks: * Steps from CTA Green Line + King Drive bus. * Quick access to I-90/94 and Lake Shore Drive. * Walk to lakefront beaches, bike paths, and parks. * Just 2 miles to Hyde Park, U of C, and McCormick Place. * Only 4 miles to downtown Chicago. This is more than a property-it's a portfolio-builder. Rarely does a move-in-ready, cash-flowing multi-unit with future development potential hit the market in such a prime, appreciating neighborhood. Currently a 6.6% CAP rate with room to grow. Schedule your private tour today-this opportunity won't last!
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Additional Information
- School District
- 299
- Corporate Limits
- Chicago
- Tax Year
- 2023
- Tax Amount
- $7,600
- Year Built
- 1888
- Lot Dimensions
- 40X142
- Lot Size Range
- .25-.49 Acre
- Units
- 4
- Garage Spaces
- 2
- Parking Spaces
- 2
- Parking Details
- Tandem, Garage, Yes, Garage Owned, Detached
- Heating
- Natural Gas
- Sewer
- Public Sewer
- Basement
- Yes
- Total Rental Income
- $7,290
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Selling Office: Schulenburg Realty, Inc.
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