$485,000
203 N Leamington Avenue
Chicago, IL, 60644
OUTSTANDING – PROFESSIONALLY MANAGED – TURNKEY INVESTMENT OPPORTUNITY! This legal 3-flat is the high-performing asset you’ve been manifesting, generating an impressive $56,100 in annual rental income with low operating costs. The landlord’s responsibilities are minimal, limited to water, landscaping, snow removal, and an incredibly low annual tax bill of just $2,742.67 (without exemptions). Also, the seller’s mortgage interest rate of 2.25% can be assumed by the buyer using Roam. Professionally managed and meticulously maintained, this brick beauty offers separate gas and electric meters, individual tankless water heaters, and central heating & cooling in every unit, ensuring that tenants cover all utilities. Because the cost of doing business is everything when it comes to multi-family ownership, we have covered all the essentials; including a coin operated washer & dryer which collects about $300 to $350/mo; basically covering the water & maintenance bill. This Income-producing building has had zero vacancies in the last three years. The reason is very simple: each unit was refurbished with a seamless blend of modern elegance and functionality. Spacious kitchens equipped with dishwashers, microwave, upgraded stoves and refrigerators. The three spacious bedrooms offer our residents space to grow, entertain and lounge. The 2nd & 3rd units have separate dining and living rooms, updated kitchens with granite countertops, stainless steel appliances, and space for a breakfast table, this property is designed for maximum tenant appeal. The legal main-level 2-bed/1-bath unit boasts a modern kitchen with newer appliances and newer flooring. Recent upgrades include a brand-new (2024) tear-off roof, gated entry, and a coin-operated laundry in the lower level for added convenience to your residents and income to your budget. The fully rented detached 2-car garage rounds out this highly desirable investment. Located in the sought-after Austin neighborhood, close to parks, shopping, and public transit, this fully leased, income-generating property is the perfect addition to any investor’s portfolio or owner-occupant landlord.
Property Details
Price:
$485,000
MLS #:
MRD12314738
Status:
Pending
Beds:
8
Baths:
3
Address:
203 N Leamington Avenue
Type:
Multi Family
Neighborhood:
CHI – Austin
City:
Chicago
Listed Date:
Mar 24, 2025
State:
IL
ZIP:
60644
Year Built:
1910
Schools
School District:
299
Elementary School:
Spencer Elementary School Math &
Middle School:
Marshall Middle School
High School:
Marshall Metropolitan High Schoo
Interior
Heating
Natural Gas, Forced Air
Exterior
Architectural Style
Other
Community Features
Curbs, Gated, Sidewalks, Street Lights, Street Paved
Exterior Features
Storms/ Screens
Other Structures
None
Parking Features
Garage Door Opener, On Site, Garage Owned, Detached, Garage
Parking Spots
2
Roof
Flat
Financial
Tax Year
2023
Taxes
$2,743
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
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203 N Leamington Avenue
Chicago, IL
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