5527 W Potomac AVE, Chicago, IL 60651 – MLS#12328890

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Mario (Rio) Williams

mario@rogleaders.com +1(702) 374-9100

$ 485,000

Est. payment | -/mo

5 Beds

3 Baths

Save

$ 485,000

Est. payment | -/mo

Save

5 Beds

3 Baths

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12328890

Bedrooms 5

Year Built 1918

Annual Tax Amount $4,862

Tax Year 2023

Lot Dimensions 25X125

Property Sub-Type Two to Four Units

Property Description

Spring into your next investment opportunity with this professionally managed, LEGAL 2-FLAT with a BONUS garden-level in-law apartment, located in Chicago's thriving Austin neighborhood! This solid 1915 brick building is full of character and offers an excellent opportunity to grow your portfolio or offset your mortgage while building equity. The property features a well-maintained 2-bedroom, 1-bath main-level unit, and a 3-bedroom, 1-bath upper unit complete with an enclosed porch-ideal as a den or third bedroom. Both units offer a spacious floor-plan with hardwood floors *carpet only in unit 1 living room * and separate living room, dining room and an eat-in kitchens. The finished lower-level garden unit is currently rented for $1,050/month to a reliable tenant who has paid on time consistently since the property was purchased. Current rental income totals $4,583/month, including: Garden Unit: $1,050 | Units 1 & 2: Combined $3,403 | Parking: $130 | That's a gross annual income of $54,996, offering solid cash flow from day one. Whether you're looking to house hack or simply add a reliable asset to your rental portfolio, this multi-unit delivers flexibility and income potential in equal measure. A fenced backyard and 2-car garage offer convenience and added appeal for both owners and tenants. With a Walk Score of 78, and easy access to major bus routes and expressways, this property is well-positioned for commuters and city lovers alike. Photos were taken after recent unit refurbishments in early 2024, showcasing updated interiors that blend comfort with historic charm. The low property taxes make this investment even more attractive for cash flow-minded buyers. FHA buyers welcome! Whether you're an investor looking for steady returns or an owner-occupant ready to make a smart move, this is the kind of opportunity that doesn't come around often-schedule your showing today! Please note: property taxes do not reflect a homeowners exemption, occupy and claims yours for additional savings.

Location

State IL

County Cook

Area Chi - Austin

Zoning MULTI

Rooms

Basement Finished, Exterior Entry, Full, Walk-Out Access

Interior

Heating Natural Gas

Equipment CO Detectors, Water Heater-Gas

Fireplace N

Exterior

Garage Spaces 2.0

Community Features Curbs, Gated, Sidewalks, Street Lights, Street Paved

Roof Type Flat

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer, Other

Water Lake Michigan

Structure Type Brick

New Construction false

Schools

Elementary Schools Disney Elementary School Magnet

Middle Schools Young Elementary School

High Schools Prosser Career Academy Senior Hi

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Karla Mina • MPower Residential Brokerage LLC

MORTGAGE CALCULATOR

Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.

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5527 W Potomac AVE Chicago, IL 60651