2904 S Wells Street,Chicago, IL 60616
Chicago, IL 60616
Description
Excellent investment opportunity in the desirable neighborhood! This well-maintained multi-unit property features a total of 7 residential units , offering multiple streams of rental income. The front building includes a 3 bed/1 bath unit on the first floor, a 2 bed/1 bath unit on the second floor, and a 1 bed/1 bath unit on the third floor, while the rear building consists of three 2 bed/1 bath units. Additional income is generated from the coach house unit and parking space. The property is in solid condition, with 6 units featuring central heating and cooling and 1 unit equipped with central heat and window AC. Current rents are below market and have not been increased in years, presenting a strong value-add opportunity for investors to enhance cash flow through future rent adjustments. The versatile unit mix appeals to a wide tenant base and helps minimize vacancy. Conveniently located near transportation, restaurants, and local amenities, this is an ideal asset for both seasoned investors and those seeking stable long-term income.
Details
| MLS # | 12614240 |
|---|---|
| Listing Type | For Sale |
| Style | Multi Family 5+ |
| Sub-Type | Resale |
| Status | Active |
| Year | 1885 |
| Days On Site | 194 |
| Listing Provided By | Kale Realty | QianKun Chen |
Features
| Story(s) | 3 |
|---|---|
| Units | 7 |
| Zoning | MULTI |
| Acreage | 0.07 |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 17226.82 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60616 |
| Area | CHI Armour Square |
| Listing VS Median (in 60616) | |
Price: $1,080,000 low | high Med: $279,000 On site: 194 low | high Med: 21 | |
Market Activity 60616
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60616 |
| Area | CHI Armour Square |
| Listing VS Median (in 60616) | |
Price: $1,080,000 low | high Med: $279,000 On site: 194 low | high Med: 21 | |
