4624 N Springfield Avenue
Chicago, IL, 60625
$799,900
7 Beds
3 Baths
0 SqFt
0.07 Acres
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$799,900
4624 N Springfield Avenue
Chicago, IL, 60625
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Be captivated by this move-in ready, vacant prime Albany Park 3-flat-a rare investment opportunity! This renovated legal 3-flat is a true gem located on a charming tree-lined street in Albany Park, a vibrant neighborhood celebrated for its cultural diversity, thriving local dining scene, walkable streets, and convenient access to top-rated schools, parks, and public transit. Unit 1 and Unit 2 each offer three bedrooms, with the third bedroom providing flexible space perfect for a home office, nursery, or guest room. Unit 3 is a modern, oversized one-bedroom with versatile flex space that accommodates a spacious living room, dining area, additional storage, and a king-sized bedroom. The property includes 2022 appliances and in-unit washer/dryers in all three units, a 2023 tear-off roof, a 2025 concrete subfloor with vapor barrier in Unit 1, updated electrical and plumbing throughout, closed-cell attic insulation, new copper water service from the street replacing old lead lines, and a brand-new deck on the 3rd floor. Perfect for investors, owner-occupants seeking income, or multi-generational buyers, this rare legal 3-flat offers both modern updates and long-term appeal in a neighborhood where such opportunities are hard to secure-schedule your private tour today! Investor special with strong fundamentals. Total rental income of 7,150/month including garage (85,800 annually). Market-standard expenses of approximately $25,000 produce an NOI of about 60,800, supporting a 7.6 cap rate at the $799,000 list price and a GRM of 9.3. Conservative underwriting includes vacancy, management, and reserves for stability, with modest rent growth offering a pro forma cap rate near 8.5. Strong cash flow and attractive value compared to market averages.

Property Details

Price:
$799,900
MLS #:
MRD12481130
Status:
Active
Beds:
7
Baths:
3
Type:
Multi Family
Neighborhood:
chialbanypark
Listed Date:
Sep 26, 2025
Year Built:
1908
Chi – Albany ParkChialbanypark

Schools

School District:
299

Interior

Heating
Natural Gas

Exterior

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

Financial

Tax Year
2023
Taxes
$5,082
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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 Oct 08, 2025
1,501
Multi Family Listed
80
Avg DOM
$500,563
Avg List Price

Community

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Property Summary

    4624 N Springfield Avenue Chicago IL is a Multi Family for sale in Chicago, IL, 60625. It is listed for $799,900 To schedule a showing of MLS#mrd12481130 at 4624 N Springfield Avenue in Chicago, IL, contact your Compass / The Debra Dobbs Group agent at 3123074909.
4624 N Springfield Avenue
Chicago, IL