1201 W Cornelia Avenue
Chicago, IL 60657

Status: Active Under Contract
Multi Family
6 beds
0 baths
0 sq.ft
Listing Price: $1,295,000

About this home

AMAZING OPPORTUNITY - AIRBNB POTENTIAL! Lake View/Wrigleyville 4 unit brick building! 100% turnkey investment property ready to accept vacation rentals or yearly leases for the 2024 season. All units rented, providing a steady income stream for investors. The units are updated, while still retaining vintage elements that add charm and appeal. Improvements include newer roof, tuckpointing, electric, plumbing, water tanks, HVAC and windows, making this a turnkey investment opportunity. The kitchens showcase eat in island with wood cabinetry. Enclosed porches add additional usable space to the units. Windows throughout ensures plenty of natural light fills the space, creating a warm and inviting atmosphere. Hardwood floors add character and uniqueness to each unit. There's ample storage available in the common areas. Outside, the exterior parking brings in additional income. This property is versatile and can be an excellent investment opportunity, a multi-family living arrangement, or a chance for an owner to live in one unit while renting out the others. The location is unbeatable, with public transportation just minutes away and quick access Lake Shore Dr, trains (brown, red & purple line stations) and expressways. You'll be in a neighborhood that offers a multitude of conveniences, restaurants & shops, all just a few steps away. It's a sought-after area for both residents and investors alike. You won't be disappointed!

Property details

Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 100+ Years
3 Bedroom Unit in Building No
Approx Year Built 1910
Parking Total 2
Exterior Building Type Brick
Parking Features Assigned, Off Alley
Garage On-Site Yes
Parking Space/s
MRD Virtual Tour None
School / Neighborhood, Utilities, Financing, Location Details
CommunityFeatures Gated, Street Lights
Area Major CHI - Lake View
Zoning Type MULTI
Corporate Limits Chicago
Directions On the corner of Racine & Cornelia
Elementary School Hamilton Elementary School
Elementary Sch Dist 299
Heat/Fuel Natural Gas
High Sch Lake View High School
High Sch Dist 299
Sewer Public Sewer
Water Lake Michigan
Jr High/Middle School Hamilton Elementary School
Jr High/Middle Dist 299
Township Lake View
Interior Features
Basement Description Unfinished
Basement Full
Bedrooms Count 6
Bedrooms Possible 6
Baths Count 4
Full Baths in Building Count 4
Total Rooms 20
Units
unit 1
Beds Total 2
Baths Total 1
Actual Rent 1825
Appliances And Features Stove, Refrigerator, Dishwasher
Full Baths Total 1
Lease Expiration Date 07/24
Rooms Total 5
Security Deposit 1750
Tenant Pays Electric, Gas, Heat
Floor Number 1
unit 2
Beds Total 2
Baths Total 1
Actual Rent 1800
Appliances And Features Stove, Refrigerator, Dishwasher
Full Baths Total 1
Lease Expiration Date 08/24
Rooms Total 5
Security Deposit 1725
Tenant Pays Electric, Gas, Heat
Floor Number 2
unit 3
Beds Total 1
Baths Total 1
Actual Rent 1375
Appliances And Features Stove, Refrigerator, Dishwasher
Full Baths Total 1
Lease Expiration Date 06/24
Rooms Total 5
Security Deposit 1375
Tenant Pays Electric,Gas
Floor Number 1
unit 4
Beds Total 1
Baths Total 1
Actual Rent 1465
Appliances And Features Stove, Refrigerator, Dishwasher
Full Baths Total 1
Lease Expiration Date 02/24
Rooms Total 5
Security Deposit 1295
Tenant Pays Electric,Gas
Floor Number 2
Property / Lot Details
Deconversion N
Lot Dimensions 30 X 125
Lot Size Standard Chicago Lot
Ownership Fee Simple
Type Unit 4 Flat
Number Of Units in Building 4
Property Type Two to Four Units

Financials

ElectricExpense 300
Electric Expense Source Actual
Fuel Expense $1,450
Fuel Expense Source Actual
Insurance Expense $4,000
Insurance Expense Source Actual
Rental Income 77580
Investment Profile Residential Income
Water Expense $1,400

Tax/Assessments/Liens

PIN 14203140200000
Special Assessments N
Taxes $24,332
Tax Exemptions None
Tax Year 2022
$1,295,000 Listing Price:
MLS # 12011862
Investment Profile Residential Income
Listing Market Time 43 days
Basement Full
Type Unit 4 Flat
Number of Units in Building 4
Parking Space/s
List Date 03/23/2024
Year Built 1910
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