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Rich Ayers

rich@ayersteam.com +1(630) 430-5927

$385,000

Est. payment - /mo

7 Beds

3 Baths

3,049 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12759313

Bedrooms 7

Year Built 1890

Annual Tax Amount $6,250

Tax Year 2025

Lot Size 3,049 Sqft

Lot Dimensions 25X125

Property Sub-Type Two to Four Units

Property Description

Welcome to 3823 W Lexington St, a brick and limestone 2-flat offering an excellent opportunity for an investor or owner-occupant looking to build long-term rental income. Situated on a standard 25' x 125' Chicago lot, this multifamily property offers two residential units, additional lower-level space, and two rear parking spaces. The property provides an opportunity to generate income from multiple living spaces while offering investors the potential to increase cash flow over time through continued rental growth and improvements. The building has benefited from prior renovations, including updated windows, and features a newer furnace installed in 2022. The property currently offers an attractive combination of established rental income and future upside. The lower-level garden unit provides additional potential for a buyer interested in exploring future legalization and expansion of the property's income-producing capacity. Buyer to independently verify the legality, permitted use, and requirements associated with the lower-level space. Located in West Garfield Park, the property is positioned in an area that provides an accessible entry point for investors seeking a multifamily asset with room for long-term growth. With its multi-unit configuration, existing rental income, rear parking, and potential for additional income, 3823 W Lexington presents an opportunity for an investor looking beyond traditional single-family properties.

Location

State IL

County Cook

Area Chi - West Garfield Park

Zoning MULTI

Rooms

Basement Partially Finished, Full

Interior

Heating Natural Gas, Forced Air

Fireplace N

Building

Dwelling Type Two to Four Units

Building Description Brick,Stone,Limestone, No

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Brick,Stone,Limestone

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

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Listed by Vasil Vulic of Compass

NEARBY SCHOOLS & PROPERTIES

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Rich Ayers

+1(630) 430-5927

Team Lead | Realtor License ID: 471.001732

3823 W Lexington ST Chicago, IL 60624

Rich Ayers

Key Details

Location

Rooms

Interior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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3823 W Lexington ST