$1,800,000
548 W Fullerton Parkway
Chicago, IL, 60614
548 Fullerton is a legal 3 flat with RM-5 zoning on 175′ deep lot, generating $148,200 in rental income! Long term tenants have kept rents lower than market rate. Units 1 + 2 are full floor units. The third floor is currently configured as 2 separate units however the rental income is combined as one unit. Lastly the garden studio apartment currently generates $15,900 and is included in the total income of unit 1. The garden apartment can easily be expanded to become a 1 bedroom which adds $7,200/yearly. Further increased income is possible in unit 3F. Adding a wall to the 20′ wide interior of the living room creates a bedroom to generate an additional $3,600/yearly. The seller has updated all electric and plumbing. The boiler dates to c2000. Each unit has been freshly outfitted with new bathrooms, kitchens, and refinished original hardwood floors. In October of 2023 the roof was fully replaced. Three of the units feature fireplaces (3F is functional, the others are decorative). Each unit has laundry. 548 Fullerton is a fully leased building, last renewal received 12 applications on the first day of showings. As demonstrated, rents easily have room to increase and add extra value. Garden apartment not included in unit count. Expenses are based off year end ’23
Property Details
Price:
$1,800,000 / $1,751,000
MLS #:
MRD11921700
Status:
Closed ((Apr 5, 2024))
Beds:
6
Baths:
7
Address:
548 W Fullerton Parkway
Type:
Multi Family
City:
Chicago
Listed Date:
Nov 1, 2023
State:
IL
ZIP:
60614
Year Built:
1920
Schools
School District:
299
Interior
Heating
Steam, Radiant, Radiator(s)
Exterior
Exterior Features
Deck, Brick Paver Patio
Parking Spots
2
Roof
Flat
Financial
Buyer Agent Compensation
2.5%-$495% of Net Sale Price
Tax Year
2022
Taxes
$35,685
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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Courtesy of Berkshire Hathaway HomeServices Chicago. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Chicago, IL. Detailed information about real estate listings held by brokerage firms other than Compass / The Debra Dobbs Group include the name of the listing broker. Neither the listing company nor Compass / The Debra Dobbs Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Chicago, IL. All rights reserved.
548 W Fullerton Parkway
Chicago, IL
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