4624 North Springfield Avenue, Chicago, IL

$799,900

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7

Beds

3

Baths

0.07

Acres

About 4624 North Springfield Avenue

Be captivated by this move-in ready, vacant prime Albany Park 3-flat-a rare investment opportunity! This renovated legal 3-flat is a true gem located on a charming tree-lined street in Albany Park, a vibrant neighborhood celebrated for its cultural diversity, thriving local dining scene, walkable streets, and convenient access to top-rated schools, parks, and public transit. Unit 1 and Unit 2 each offer three bedrooms, with the third bedroom providing flexible space perfect for a home office, nursery, or guest room. Unit 3 is a modern, oversized one-bedroom with versatile flex space that accommodates a spacious living room, dining area, additional storage, and a king-sized bedroom. The property includes 2022 appliances and in-unit washer/dryers in all three units, a 2023 tear-off roof, a 2025 concrete subfloor with vapor barrier in Unit 1, updated electrical and plumbing throughout, closed-cell attic insulation, new copper water service from the street replacing old lead lines, and a brand-new deck on the 3rd floor. Perfect for investors, owner-occupants seeking income, or multi-generational buyers, this rare legal 3-flat offers both modern updates and long-term appeal in a neighborhood where such opportunities are hard to secure-schedule your private tour today! Investor special with strong fundamentals. Total rental income of 7,150/month including garage (85,800 annually). Market-standard expenses of approximately $25,000 produce an NOI of about 60,800, supporting a 7.6 cap rate at the $799,000 list price and a GRM of 9.3. Conservative underwriting includes vacancy, management, and reserves for stability, with modest rent growth offering a pro forma cap rate near 8.5. Strong cash flow and attractive value compared to market averages.

Features of 4624 North Springfield Avenue

MLS® # 12495167
Price $799,900
Bedrooms 7
Bathrooms 3.00
Acres 0.07
Year Built 1908
Type Residential Income
Sub-Type Two to Four Units
Status New

Community Information

Address 4624 North Springfield Avenue
Area CHI - Albany Park
City Chicago
County Cook
State IL
Zip Code 60625

Amenities

Parking Spaces 2
Parking Garage Door Opener, On Site, Garage Owned, Detached, Garage
# of Garages 2
Is Waterfront No
Has Pool No

Interior

Heating Natural Gas
Fireplace No
Has Basement Yes
Basement None

Exterior

Exterior Vinyl Siding
Roof Asphalt

School Information

District 299

Additional Information

Days on Market 2
Zoning MULTI
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

Office@properties Christie's International Real Estate
Contact Info847-797-0200

Listing Map

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