$1,400,000
4200 W 31st Street
Chicago, IL, 60623
An excellent opportunity to own a fully renovated 8-unit multifamily building in a thriving Chicago neighborhood. Each unit features 2 bedrooms, and all are currently leased, generating $111,000 annually in rental income. Over the years, the property has been thoughtfully updated with newer water heaters, furnaces, and A/C units. All units have been gut rehabbed, offering sleek kitchens, modern bathrooms, and updated flooring throughout. Tenants pay their own gas and electricity, keeping operating expenses low. All appliances are included, and the building has been consistently well-maintained with minimal ongoing maintenance needs. Ideally located across from Piotrowski Park, residents enjoy convenient access to green space, daily exercise, and family-friendly activities. The surrounding neighborhood is vibrant and walkable, with local dining, shops, and public transportation nearby. This is a turnkey investment; just purchase and start collecting rent.
Property Details
Price:
$1,400,000
MLS #:
MRD12437992
Status:
Active
Beds:
0
Baths:
0
Address:
4200 W 31st Street
Type:
Commercial
Neighborhood:
CHI – South Lawndale
City:
Chicago
Listed Date:
Aug 5, 2025
State:
IL
ZIP:
60623
Lot Size:
3,736 sqft / 0.08 acres (approx)
Year Built:
1925
Schools
Interior
Cooling
Central Air
Exterior
Construction Materials
Brick
Roof
Reflective Coating
Financial
Maintenance Fee
$2,200
Tax Year
2023
Taxes
$16,334
Debra Dobbs is one of Chicago’s top realtors with more than 41 years in the real estate business.
More About DebraMortgage Calculator
Map
Similar Listings Nearby
- 1256 S Independence Boulevard
Chicago, IL$1,750,000
4.90 miles away
- 1509 W Thomas Street
Chicago, IL$1,699,000
3.79 miles away
- 4043 S Drexel Boulevard
Chicago, IL$1,692,600
4.91 miles away
- 5820 N Milwaukee Avenue
Chicago, IL$1,650,000
2.64 miles away
- 4317 W Flournoy Street
Chicago, IL$1,600,000
4.65 miles away
- 1260 W Winnemac Avenue
Chicago, IL$1,599,000
4.51 miles away
- 11000 S Michigan Avenue
Chicago, IL$1,500,000
4.79 miles away
- 1445 W 16th Street
Chicago, IL$1,500,000
3.84 miles away
- 3824 N CLARK Street
Chicago, IL$1,498,000
3.79 miles away
- 3527 N Milwaukee Avenue
Chicago, IL$1,495,000
4.01 miles away

4200 W 31st Street
Chicago, IL
LIGHTBOX-IMAGES