2531 W Lyndale Street
Chicago, IL, 60647
$900,000
8 Beds
5 Baths
0 SqFt
0 Acres
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$900,000
2531 W Lyndale Street
Chicago, IL, 60647
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Stunning rehabbed legal 4-unit in the Heart of Logan Square/West Bucktown! This multi-unit building is currently operating as a rehabbed 3-unit with a legal, 4th unit that is currently an unfinished garden apartment. This very large building was recently beautifully rehabbed and features a very large, rear addition and huge rehabbed 1ST FLOOR UNIT SIMPLEX + 2 DUPLEXED UNITS ON THE 2ND & 3RD FLOORS (front & rear) + an unfinished (but legal) 4th garden apartment. – UNIT #1 – Covers the entire first floor of the building and is a 2-bed/2-bath featuring a recently rehabbed & stunning chef’s kitchen w/ granite countertops, breakfast bar, 42-inch cabs, high-end appliances, and custom backsplash, Full dining room & spacious living room w/ large master suite in the rear, (two full updated bathrooms) and in-unit laundry, hardwood floors, can lighting, newer windows, perfect for a live-in owner! – Both upper units (#2F & 2R) are newly rehabbed, super-bright duplex-ups w/ new HVAC (GFA w/ Central A/C), in-unit laundry, new kitchens & baths, hardwood floors throughout and great open layouts UNIT #2F is a large 2-bedroom + den with 1 full bath. UNIT #2R is also a large 2-bedroom with 1.5 baths. Terrific income-producing property, currently generating $6,620 PER MONTH TOTAL and breakdown as follows; *UNIT #1 @ $2,190 per mo and on a month-to-month lease, *UNIT #2F @ 2,090 per month and lease expires 9/25 & *UNIT #2R was @ $2,340 (just vacated and this included both garage parking spots). The basement is currently unfinished, but it is a legal 4th garden unit and can be finished for $160K. ***EXCELLENT TOTAL ANNUAL INCOME of $79,440 minus – $16,336 in expenses (RE taxes, water & insurance) = $63,104 (NOI) TOTAL ANNUAL NET OPERATING INCOME for a Solid 7% CAP RATE.***Also, investing an additional $160K in finishing the legal 4th garden unit, brings the CAP rate up to 8.4%!! (We have the certificate of zoning from the city in hand showing 4 legal units). A+ location, quiet one-way street, close to all the great restaurants, coffee shopping, night-life, parks & excellent schools in the Logan Square/Bucktown area with excellent transportation options and a short walk to both the Western Blue Line or California stops, easy access to 90/94, close to The 606 bike path & more!!! ***Note***The 2 current tenants have indicated they will waive their right of 1st refusal under Chicago’s N/W Side Preservation Ordinance, Tenant Opportunity to Purchase (606) Block Pilot Program).

Property Details

Price:
$900,000
MLS #:
MRD12301305
Status:
Active
Beds:
8
Baths:
5
Type:
Multi Family
Neighborhood:
CHI – Logan Square
Listed Date:
Jun 18, 2025
Chi – Logan SquareChi – Logan SquareGoethe Elementary SchoolClemente Community Academy Senio

Schools

School District:
299
Elementary School:
Goethe Elementary School
Middle School:
Clemente Community Academy Senio

Interior

Heating
Natural Gas, Forced Air, Steam, Sep Heating Systems – 2+, Zoned

Exterior

Construction Materials
Vinyl Siding
Parking Features
Garage Door Opener, On Site, Garage Owned, Detached, Garage
Parking Spots
2

Financial

Net Operating Income
$63,104
Tax Year
2023
Taxes
$11,264
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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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Current real estate data for Multi Family in Chicago as of Sep 01, 2025
1,495
Multi Family Listed
82
Avg DOM
$496,572
Avg List Price

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Property Summary

    2531 W Lyndale Street Chicago IL is a Multi Family for sale in Chicago, IL, 60647. It is listed for $900,000 To schedule a showing of MLS#mrd12301305 at 2531 W Lyndale Street in Chicago, IL, contact your Compass / The Debra Dobbs Group agent at 3123074909.
2531 W Lyndale Street
Chicago, IL