4624 N Springfield Avenue Chicago, IL 60625
Sold: 785000
/ MLS# 12495167 / Multi Unit - Multiple / Chicago
7 Beds

Be captivated by this move-in ready, vacant prime Albany Park 3-flat-a rare investment opportunity! This renovated legal 3-flat is a true gem located on a charming tree-lined street in Albany Park, a vibrant neighborhood celebrated for its cultural diversity, thriving local dining scene, walkable streets, and convenient access to top-rated schools, parks, and public transit. Unit 1 and Unit 2 each offer three bedrooms, with the third bedroom providing flexible space perfect for a home office, nursery, or guest room. Unit 3 is a modern, oversized one-bedroom with versatile flex space that accommodates a spacious living room, dining area, additional storage, and a king-sized bedroom. The property includes 2022 appliances and in-unit washer/dryers in all three units, a 2023 tear-off roof, a 2025 concrete subfloor with vapor barrier in Unit 1, updated electrical and plumbing throughout, closed-cell attic insulation, new copper water service from the street replacing old lead lines, and a brand-new deck on the 3rd floor. Perfect for investors, owner-occupants seeking income, or multi-generational buyers, this rare legal 3-flat offers both modern updates and long-term appeal in a neighborhood where such opportunities are hard to secure-schedule your private tour today! Investor special with strong fundamentals. Total rental income of 7,150/month including garage (85,800 annually). Market-standard expenses of approximately $25,000 produce an NOI of about 60,800, supporting a 7.6 cap rate at the $799,000 list price and a GRM of 9.3. Conservative underwriting includes vacancy, management, and reserves for stability, with modest rent growth offering a pro forma cap rate near 8.5. Strong cash flow and attractive value compared to market averages.

Read More » Read Less »

Baird & Warner New Client Care Team Agent Cell: 312.847.5702

Request Tour

Mortgage Calculator

%
years/fixed
yearly
yearly (est.)
(Payments are an estimate and may vary by lender)

Estimated Payment

$ 2,434.36 per month $1,777.56 Principal & Interest $423.50 Property Tax $233.30 Homeowner's Insurance
Get your competitive financing options.

Property Details

Property Type: Multi Unit - Multiple
Basement: None
Garage: 2
Heating: Natural Gas
Lot Size: 0.07 Acres
Roof Type: Asphalt
Taxes: $5,082
Year Built: 1908
Buyer Represented By: Joe Gallagher , Baird & Warner
Listing Provided By: @properties Christie?s International Real Estate

Feature Descriptions

Bath Features: Double Sink, Soaking Tub
Lot Dimensions: 25X125
Other Equipment: CO Detectors, Ceiling Fan(s), Multiple Water Heaters, Water Heater-Gas
Parcel#: 13141080350000
Parking: Garage Door Opener, Yes, Garage Owned, Detached, Garage
Sewer: Public Sewer
Total Rooms: 16
Township: Jefferson
Water: Lake Michigan

Schools

School District: 299

Disclaimer: The accuracy of all information regardless of source, including but not limited to square footage and lot size, is deemed reliable but not guaranteed nor warranted and should be personally verified through personal inspection by and/or with the appropriate professionals.

Location

See details and scored characteristics about this location.

Listing Office: @properties Christie?s International Real Estate

Listing Office Phone: 847-797-0200



Listing data and photos distributed by MLSGRID
Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.


Login to my Baird & Warner account

Pixel