4028 S KING Drive
Chicago, IL, 60653
$975,000
11 Beds
7 Baths
0 SqFt
0 Acres
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$975,000
4028 S KING Drive
Chicago, IL, 60653
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Historic Grand Boulevard 4-Flat with High Income Potential + Bonus Coach House! Own a piece of Chicago’s architectural legacy with this stunning, fully rehabbed 4-flat on iconic King Drive in the heart of historic Grand Boulevard. This 5,600 sq ft gem blends timeless Bronzeville charm with modern updates, offering the perfect combination of luxury, income, and long-term upside. Gut-renovated in 2010 and refreshed in 2022 with new kitchens and bathrooms in Units 1 & 2, this property is fully leased and generating strong, consistent rental income-delivering instant cash flow from day one. Whether you’re an investor or owner-occupant, this is a turn-key opportunity with tremendous upside. Each of the four expansive units features soaring 10-foot ceilings, generous layouts, and modern finishes. But the value doesn’t stop there-out back, an unfinished coach house offers endless potential. Envision a 2-car garage topped with a 2-bedroom apartment to easily create a fifth income-producing unit and boost your ROI. Location perks: * Steps from CTA Green Line + King Drive bus. * Quick access to I-90/94 and Lake Shore Drive. * Walk to lakefront beaches, bike paths, and parks. * Just 2 miles to Hyde Park, U of C, and McCormick Place. * Only 4 miles to downtown Chicago. This is more than a property-it’s a portfolio-builder. Rarely does a move-in-ready, cash-flowing multi-unit with future development potential hit the market in such a prime, appreciating neighborhood. Currently a 6.6% CAP rate with room to grow. Schedule your private tour today-this opportunity won’t last!

Property Details

Price:
$975,000
MLS #:
MRD12434295
Status:
Active
Beds:
11
Baths:
7
Type:
Multi Family
Neighborhood:
CHI – Grand Boulevard
Listed Date:
Aug 8, 2025
Year Built:
1888
Chi – Grand BoulevardChi – Grand Boulevard

Schools

School District:
299

Interior

Heating
Natural Gas

Exterior

Community Features
Curbs, Gated, Sidewalks, Street Lights, Street Paved
Construction Materials
Brick, Masonite, Limestone
Parking Features
Tandem, Garage, On Site, Garage Owned, Detached
Parking Spots
2

Financial

Maintenance Fee
$2,000
Net Operating Income
$64,911
Tax Year
2023
Taxes
$7,600
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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 02, 2025
1,491
Multi Family Listed
83
Avg DOM
$498,423
Avg List Price

Community

Subdivisions in Chicago

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Property Summary

    4028 S KING Drive Chicago IL is a Multi Family for sale in Chicago, IL, 60653. It is listed for $975,000 To schedule a showing of MLS#mrd12434295 at 4028 S KING Drive in Chicago, IL, contact your Compass / The Debra Dobbs Group agent at 3123074909.
4028 S KING Drive
Chicago, IL