2048 W Evergreen Avenue

Chicago, IL, 60622

$1,299,000

$1,299,000
Active
Active
 - For Sale
beds
7 Beds
property_type
Multi-family
calendar
Built 1915
Completely renovated, no-expense-spared, turn-key, three (3) unit investment property for sale in the prime Wicker Park neighborhood complete with a fully-furnished first floor unit and equipped with a high-tech entertainment system and art from Chicago's famous local artists. First floor can also be used as an Owner's unit while the two three (3) bedroom / two (2) bathroom units above help pay the mortgage and earn an income. On the first floor is a one of a kind Owner's unit. Boasting 12' ceilings, original and well-maintained tin ceiling tiles, furnishings including custom artwork designed by Chicago's own Chris Knight Creations (included at no additional cost), and a state of the art smart home setup including fabulous media room, this unit is an entertainer's dream. The second and third floor are nearly identical three (3) bedroom / two (2) bathroom layouts, each completely gut-rehabbed in premium fashion from floor to ceiling (literally). The kitchen has been appointed with luxuriously warm finishes and new stainless steel appliances. The bathrooms on the first, second and third floor each have dual vanities and luxury finishes. The units include new plumbing, electrical, gas lines, water service line, insulation (both sound and heat), drywall, roof, HVAC, and a rebuilt enclosed porch. Specifically, the kitchen includes new stainless steel appliances, granite countertops, and a convenient and easy to use coil spring neck kitchen faucet. Each bedroom can fit a king bed and have room for a small desk. The primary bedroom has access to a beautiful dual vanity and walk-in shower. The second bathroom also has an exquisite double vanity and tub. Tenants love these offerings resulting in premium rents. Dream Location - You (and / or your tenants) will be perfectly situated to enjoy Chicago's fantastic nightlife and food scene in the thriving and growing Wicker Park and Ukrainian Village neighborhoods, both of which are just steps from your front door. A 10 minute Uber / cab or just a 15 minute train ride takes you into downtown Chicago Central Business District. Most importantly, relax as a landlord / owner knowing the key structural & essential components (i.e. water heaters, HVAC, roof, electrical wiring, gas lines, plumbing, etc.) and nearly everything else in this building has been replaced or upgraded in 2018 to meet and exceed modern code and standards. Nothing significant needs to be done for years / decades. Note, these were significant cost investments of the current owner. Details: Please refer to listing broker for detailed historical property financials or of rehab and remodel project. Lease Comments: Building was leased during 2020 at below normal market levels because the owner wasn't in town to manage the re-lease. Property has opportunity for significant lease appreciation.
MLS ID:
11079680
Listed:
5/9/21
Updated:
9/26/21

Interior Features

Total Bedrooms
7
Total Bathrooms
0
Heating
Natural Gas, Forced Air

Exterior/Building Features

Sewer
Public Sewer

School Information

School District
299

Other Property Details

Area Name
CHI - West Town
Taxes
$17018.3
Tax Frequency
per YEAR
Attached Garage
No
County
Cook
Water Source
Lake Michigan, Public
Pool
No
Zoning
MULTI

Property History

Date
Event
Price
Value
9/10/21
Price Change
$1,299,000
-1%
8/3/21
Price Change
$1,324,000
-1%
7/2/21
Price Change
$1,349,000
-1%
5/28/21
Price Change
$1,374,000
-1%
Contact Agent