2936 N Allen Avenue Chicago IL 60618 | MLS #MRD12802153

2936 N Allen Ave is a legal 2-unit in Avondale, just north of Logan Square, plus a non-conforming attic unit. The garden unit is a 3 bed / 1 bath with about 1,000 SF, the second floor is a 2 bed / 1 bath with about 1,000 SF, and the 1 bed attic unit up top has sloped ceilings and tons of character. The garden and second-floor units have in-unit laundry. Every unit has an updated kitchen with white cabinets and stainless steel appliances, hardwood floors, central air and ceiling fans. The big-ticket items are done: the front porch was rebuilt in 2026 and the rear porch in 2018, the electric is separately metered with exterior meters updated in 2016, and the building has copper plumbing, vinyl windows, gas forced air heat and an asphalt shingle roof. Out back there’s a private yard and a 1.5-car garage off the alley. All three units are leased through mid-to-late 2027 at $4,800/month combined, for a 5.66% cap rate. Rents are below nearby comps. Bringing them to market at about $5,500/month raises the cap rate to 6.85% with no capital investment. Owner-occupants can plan their move-in as leases end, and investors get income from day one. You’re a short walk from the shops and restaurants along Milwaukee and Belmont, including Kuma’s Corner and Revolution Brewing’s Kedzie taproom. The Belmont Blue Line is about half a mile away, with a direct ride to the Loop and O’Hare. The #77 Belmont and #56 Milwaukee buses, the Kennedy and Logan Square’s parks are all close by.