1531 W NELSON Street
Chicago, IL, 60657
$969,900
8 Beds
4 Baths
0 SqFt
0 Acres
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$969,900
1531 W NELSON Street
Chicago, IL, 60657
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Meticulously maintained legal three unit building on a quiet tree-lined street in the heart of trendy South Lakeview. The turnkey investment is fully occupied with leases in place until Spring/Summer of 2025 that generate monthly income of 6450. All three units cover their own utilities and are separately metered for gas and electric. The only building expenses for the owner are water, trash, and insurance. Unit 1 is an English garden 2bd/1bath leased thru 6/30/2025 for 1675. Unit 2 is a spacious 2bd/1bath leased thru 5/31/2025 for 1975. Unit 3 is a large duplex 3/4bd/2bath leased thru 6/30/2025 for 2975. The garage yields additional income of 175/month. This can be an ideal armchair investment with solid income as-is, or can be a value add play with strong upside for growth in rents. An excellent bldg to add to your investment portfolio on a fantastic street in one of the most desired neighborhoods on the Northside and located in the highly sought after Burley School District.

Property Details

Price:
$969,900
MLS #:
MRD12316378
Status:
Active
Beds:
8
Baths:
4
Address:
1531 W NELSON Street
Type:
Multi Family
Neighborhood:
CHI – Lake View
City:
Chicago
Listed Date:
Mar 25, 2025
State:
IL
ZIP:
60657
Year Built:
1906

Schools

School District:
299

Interior

Appliances
Humidifier
Heating
Natural Gas, Forced Air, Sep Heating Systems – 2+, Indv Controls, Zoned

Exterior

Architectural Style
Victorian
Community Features
Curbs, Gated, Sidewalks, Street Lights, Street Paved
Parking Spots
2
Roof
Asphalt

Financial

Net Operating Income
$60,780
Tax Year
2023
Taxes
$15,859
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Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.

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1531 W NELSON Street
Chicago, IL