Search

Leave a Message

Thank you for your message. We will be in touch with you shortly.

Explore Our Properties

Property Description

LOCATION, LOCATION! 3-UNIT APARTMENT BUILDING IN A PRIME EAST LAKEVIEW LOCATION. Located on a beautiful tree-lined street just 2 blocks from the Lakefront and Express Bus Stop to downtown, 3 blocks to the Red, Brown and Purple Line Stop at Belmont and a plethora of coffee shops, restaurants and shopping as well, there couldn't be a better location in the entire city. Building has great tenants although rents are below market value so there's a lot of room for improved cash flow with projected yearly market rents of around $78,000 or more without making any improvement and well over $80,000 with cosmetic upgrades. It would make a fantastic property for investor buyers looking to rent and hold in an A+ neighborhood, live-in owners, or redevelopment to a single-family home, new construction or for building out your dream 3BR, 2BTH duplex and having rental income to pay the mortgage. So many possibilities with this property. All units have their own HVAC systems and are separately metered and paying their own gas and electric bills so owner's costs are minimal. Beautiful, serene and very private backyard with shared paver patio for all to enjoy. Very clean basement offering further storage, and a common laundry room. Mechanicals have been recently updated.

Overview

Property Status
Sold
Lot Size
2,575 Sq.Ft.
MLS ID
11727176
Property Type
Multi-Family
Year Built
1863

Features & Amenities

Neighborhood
Chicago
Sales Price
$825,000

Downloads

708 W Melrose St

Schedule a Tour

We would love to help you see this beautiful home! As a full-service brokerage, we can help you tour. Please submit an offer, and answer questions about the buying process.

Thank you

for your interest in 708 W Melrose Street, Chicago, IL 60657

708 W Melrose St
Navigate
Chicago

Explore Chicago

read more

I'm Interested In

708 W Melrose St

 

Find Your Dream Home

Browse active listings in the area or contact us for off-market listings.

Home Search

Looking to Sell Your Home?

Have an expert help you find out what your home is really worth.

Home Valuation