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$ 1,599,000
Est. payment /mo
Active Under Contract
1256 S Independence BLVD Chicago, IL 60623
UPDATED:
02/27/2025 05:00 AM
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12284241
Maintenance Fees $18,000
Year Built 1909
Annual Tax Amount $24,754
Tax Year 2022
Lot Dimensions 56X158
Property Sub-Type Multi Family 5+
Property Description
CASH OR "Fix N Flip" Loan ONLY. SOLD AS-IS, with Violations. Work for the violations has largely been completed but city hasn't signed off on work. This is a fantastic opportunity to acquire a partially gut-rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. All units are individually metered and offer very spacious layouts. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. 10 units have been upgraded in the last year. Each unit has its own gas meter, water heater, and electric meter. For investors looking for a value add, there is space to add 6 more garden units. The current monthly rent roll is $20,897 with 92% occupancy.
Location
State IL
County Cook
Area Chi - North Lawndale
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 3
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Listed by Lawrence Dunning • Main Street Real Estate Group