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Rich Ayers

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

$799,000

Est. payment - /mo

6 Beds

5 Baths

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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 12767898

Bedrooms 6

Year Built 1962

Annual Tax Amount $13,244

Tax Year 2022

Lot Dimensions 33X124

Property Sub-Type Two to Four Units

Property Description

Mid-Century Modern four-unit property in a highly desirable Elmwood Park location! Offering more than 5,000 square feet of living space, this fully leased building with 100K in RECENT IMPROVEMENTS presents an outstanding sole investment or owner-live-in opportunity! The current rent roll includes Unit 1 at $1,995 per month, Unit 2F at $1,350, Unit 2R at $1,250, Unit G at $1,250, and the garage at $175. GMR totals $6,020 per month, or $72,240 annually. The property includes six bedrooms and five full bathrooms across four apartments. Each residence has its own thermostat and individually controlled AC unit. Tenants share a basement common area and laundry room with a free, owner-owned washer and dryer. The detached garage accommodates approximately 2.5 cars and is leased separately. The building combines vintage character with thoughtful updates, including striking tiger mahogany cabinetry and stainless-steel appliances. Approximately $100,000 in improvements have been completed since October 2024, with major investments in the property's systems. Updates include a brand-new Weil-McLain gas boiler, a new common water heater with annual service, a full electrical upgrade, sewer-main hydro jetting, camera inspection and repairs, new copper piping in the mechanical room, a new hot-water supply line to the garden unit, and a sprinkler system in the basement common area. Additional improvements include repainting, carpet cleaning, rent-ready repairs, new locks, deep cleaning, and new laminate flooring in Unit 1. Earlier improvements include tuckpointing, glass-block windows, and plumbing work. The building is also a prime value add candidate with large basement common room that can easily become a unit addition. As well as the opportunity for cosmetic upgrades to increase an impressive rent toll. Conveniently located within walking distance of the train, parks, and schools, this well-maintained income-producing property offers a compelling combination of location, vintage character, modernized building systems, and future rental upside.

Location

State IL

County Cook

Area Elmwood Park

Zoning MULTI

Rooms

Basement Other, Rec/Family Area, Daylight

Interior

Heating Natural Gas, Steam

Fireplace N

Exterior

Garage Spaces 2.5

Community Features Park, Curbs, Sidewalks, Street Lights, Street Paved

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer, Storm Sewer

Water Lake Michigan, Public

Structure Type Brick

New Construction false

Schools

Elementary Schools John Mills Elementary School

Middle Schools Elm Middle School

High Schools Elmwood Park High School

School District 401 , 401, 401

Others

Ownership Fee Simple

Special Listing Condition List Broker Must Accompany

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Listed by Mehdi Mova of Compass

NEARBY SCHOOLS & PROPERTIES

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Rich Ayers

+1(630) 430-5927

Team Lead | Realtor License ID: 471.001732

2631 N 74th AVE Elmwood Park, IL 60707

Rich Ayers

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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2631 N 74th AVE