3863 N Drake Avenue
Chicago, IL 60618

Status: Sold
Multi Family
6 beds
0 baths
0 sq.ft
Listing Price: $539,000
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About this home

Wonderful Independence Park location just off the Elston Corridor. Less than 1 mile to Irving Park Rd Blue Line, Metra Station & Kennedy Expressway. Rare chance for a 70' wide lot on a residential block with 3 rental units and 3+ parking spaces. All units are 2-bd, 1-ba with month to month tenants. Building is located in the Northwest ADU zone. Priced to sell "as-is" so that new owner can upgrade or renovate for added rental value. This property can also be purchased with 3903 N Drake Ave. and 3909 N Drake (two other adjacent 2-flats). Loads of possibilities.

Property details

Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 100+ Years
3 Bedroom Unit in Building No
Approx Year Built 1905
Parking Total 3
Exterior Building Type Frame
Garage On-Site Yes
Parking Ownership Owned
Parking Space/s
MRD Virtual Tour None
Virtual Tour Date 10/27/2023 2:20 am
School / Neighborhood, Utilities, Financing, Location Details
Area Major CHI - Irving Park
Corporate Limits Chicago
Directions Elston Ave to Drake just south of Irving Park Rd.
Elementary Sch Dist 299
Heat/Fuel Natural Gas
High Sch Dist 299
Sewer Public Sewer
Water Public
Jr High/Middle Dist 299
Township Jefferson
Interior Features
Basement Description Partially Finished
Basement Bathrooms No
Basement Full
Bedrooms Count 6
Bedrooms Possible 6
Baths Count 3
Full Baths in Building Count 3
Total Rooms 14
Units
unit 1
Beds Total 2
Baths Total 1
Actual Rent 1025
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date M-T-M
Rooms Total 4
Security Deposit 975
Tenant Pays None
Floor Number G
unit 2
Beds Total 2
Baths Total 1
Actual Rent 1200
Appliances And Features Stove, Refrigerator, Dishwasher
Full Baths Total 1
Lease Expiration Date M-T-M
Rooms Total 5
Tenant Pays Electric, Gas, Heat
Floor Number 1
unit 3
Beds Total 2
Baths Total 1
Actual Rent 1150
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date M-T-M
Rooms Total 5
Security Deposit 1150
Tenant Pays Electric, Gas, Heat
Floor Number 2
Property / Lot Details
Lot Dimensions 70'X125'X136'X17'
Lot Size Source Survey
Lot Size Oversized Chicago Lot
Ownership Fee Simple
Type Unit 3 Flat
Number Of Units in Building 3
Property Type Two to Four Units

Financials

ElectricExpense 1002
Financing Conventional
Fuel Expense $939
Gross Rental Income $40,500
Insurance Expense $2,230
Rental Income 40500
Scavenger Expense $228
Investment Profile Residential Income
Water Expense $400

Tax/Assessments/Liens

PIN 13232010210000
Special Assessments N
Taxes $9,082
Tax Exemptions None
Tax Year 2022
$539,000 Listing Price:
MLS # 11912807
Investment Profile Residential Income
Listing Market Time 63 days
Basement Full
Type Unit 3 Flat
Number of Units in Building 3
Parking Space/s
List Date 10/26/2023
Year Built 1905
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