4722 N Drake Avenue
Chicago, IL 60625

Status: Active Under Contract
Multi Family
5 beds
0 baths
0 sq.ft
Listing Price: $699,900

About this home

**Multiple Offers Received** Highest & Best requested by May 9th at noon.** Hard to find 2 flat armchair investment property just 5 mins to Brown line in hot Albany Park! Both bright, beautiful condo quality units were meticulously renovated in 2017. Gut rehabbed modern center island kitchens with 42'' white shaker cabinets, quartz counters, stainless steel appliances & subway tile backsplashes. Adorable gut rehabbed vintage style full hall baths in each unit. Both floors have have all their original architectural details intact: oak floors, doors, crown molding & built-in hutches. All units have separate utils & in-unit w/d, virtually no upkeep besides lawn care/snow removal and routine maintenance. Private back decks overlook fenced yard. All new plumbing, electric, HVAC, windows, tear off roof, siding, skylights, insulation in 2017. Close to Lincoln Square & 90/94. Extra wide 30' lot allows nice front + back yards. 3 car garage built at time of rehab allows one garage for each unit. Perfect investment in truly turn key condition. Massive attic with 7 skylights has duplex up potential for possible future owners unit. The ideal use for this building would be to duplex up and duplex down for two huge owners units or convert to SFH. (Full set of drawings are available for SFH conversion). Amazing restaurants within walking distance and awesome Gompers Park nearby which connects to N. Branch Trail. Owner is IL LIC RE Broker.

Property details

Property / Lot Details
Acreage 0.08
Lot Dimensions 30X125
Lot Description Fenced Yard
Lot Size Less Than .25 Acre
Other Structures None
Ownership Fee Simple
Style of House Farmhouse
Type Unit 2 Flat
Number Of Units in Building 2
Property Type Two to Four Units
Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 100+ Years
3 Bedroom Unit in Building Yes
Approx Year Built 1915
Parking Total 3
Exterior Building Type Vinyl Siding, Frame
Exterior Property Features Deck
Garage Details Garage Door Opener(s)
Parking On-Site Yes
Garage Ownership Owned
Garage Type Detached
Parking Spaces Count 3
Parking Garage
Rehab Year 2017
Roof Type Asphalt
Virtual Tour (Unbranded) External link
MRD Virtual Tour None
Virtual Tour Date 05/01/2024 10:28 pm
School / Neighborhood, Utilities, Financing, Location Details
Area Major CHI - Albany Park
Zoning Type MULTI
Corporate Limits Chicago
Directions WILSON TO DRAKE (3550W), NORTH TO 4722
Elementary School Haugan Elementary School
Elementary Sch Dist 299
Heat/Fuel Natural Gas
High Sch Roosevelt High School
High Sch Dist 299
Sewer Public Sewer
Water Lake Michigan
Jr High/Middle School Haugan Elementary School
Jr High/Middle Dist 299
Township Jefferson
Interior Features
Basement Description Finished
Basement Full
Bedrooms Count 5
Bedrooms Possible 5
Baths Count 3
Full Baths in Building Count 3
Total Rooms 10
Units
unit 1
Beds Total 2
Baths Total 1
Actual Rent 1850
Appliances And Features Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Disposal, Central Air Conditioner, Laundry Hook-Up, Hardwood Floors
Full Baths Total 1
Lease Expiration Date 07/24
Rooms Total 5
Tenant Pays Electric, Gas, Heat, Parking
Floor Number 1
Square Feet 1096
unit 2
Beds Total 3
Baths Total 1
Actual Rent 2000
Appliances And Features Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Disposal, Central Air Conditioner, Laundry Hook-Up, Hardwood Floors
Full Baths Total 1
Lease Expiration Date 05/25
Rooms Total 6
Tenant Pays Electric, Gas, Heat, Parking
Floor Number 2
Square Feet 1096

Financials

Fuel Expense Source Actual
Gross Rental Income $46,200
Insurance Expense $1,525
Insurance Expense Source Actual
Manager Expense Source AC
MaintenanceExpense 2106
Rental Income 3850
Investment Profile Residential Income
Water Expense $1,256

Tax/Assessments/Liens

PIN 13142000210000
Special Assessments N
Taxes $7,637
Tax Exemptions None
Tax Year 2022
$699,900 Listing Price:
MLS # 12043736
Investment Profile Residential Income
Listing Market Time 29 days
Basement Full
Type Unit 2 Flat
Number of Units in Building 2
Parking Garage
List Date 05/01/2024
Year Built 1915
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