224 W Michael LN, Addison, IL 60101
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224 W Michael LN, Addison, IL 60101
224 W Michael LN, Addison, IL 60101
224 W Michael LN, Addison, IL 60101
224 W Michael LN, Addison, IL 60101
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Erin Booker | Ellis Booker | Andrew Austria

Erin Booker | Ellis Booker | Andrew Austria

+1(847) 418-7318
$ 699,900
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224 W Michael LN Addison, IL 60101

7 Beds

4 Baths

0.26 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12783253

Bedrooms 7

Year Built 1964

Annual Tax Amount $11,029

Tax Year 2025

Lot Size 0.260 Acres

Lot Dimensions 168X68X169X70

Property Sub-Type Two to Four Units

Property Description

INVESTORS, TAKE NOTICE! EXCELLENT OPPORTUNITY TO BUILD EQUITY AND UNLOCK SIGNIFICANT RENTAL INCOME POTENTIAL! This solid, all-brick four-unit building offers an excellent opportunity for investors looking to expand their portfolio and capitalize on the strong rental potential of the area. Featuring three spacious 2-bedroom units and one 1-bedroom unit, this fully occupied property offers an established rental income stream with considerable room for growth. One of the property's standout features is its durable all-brick construction, along with seven assigned parking spaces, providing convenient and designated parking for tenants. The building also features a common utility area, newer windows, and a roof reportedly replaced in 2018, along with updates to components of the boiler system. THE REAL OPPORTUNITY LIES IN THE UPSIDE! Current rents are well below the area's potential market rates, providing an opportunity for future income growth. While the property would benefit from cosmetic improvements, modernization, and general maintenance, these updates could help reposition the building, support higher rental rates, and increase its long-term value. Additional income opportunities may include installing coin-operated laundry equipment and evaluating existing rental arrangements. Whether you're an experienced investor seeking a value-add opportunity or looking to establish a long-term real estate investment, this property offers the combination of solid brick construction, multiple income-producing units, assigned parking, and substantial potential for improvement. FOUR UNITS, FOUR INCOME STREAMS, AND ONE GREAT OPPORTUNITY! Property is being sold strictly AS-IS. Bring your vision and unlock the potential this investment property has to offer!

Location

State IL

County Dupage

Area Addison

Zoning MULTI

Rooms

Basement None

Interior

Heating Natural Gas

Equipment CO Detectors, Water Heater-Gas

Fireplace N

Exterior

Roof Type Asphalt

Building

Dwelling Type Two to Four Units

Building Description Brick, No

Sewer Public Sewer

Water Public

Structure Type Brick

New Construction false

Schools

School District 4 , 4, 88

Others

Ownership Fee Simple

Special Listing Condition None

Midwest Real Estate Data (MRED) IDX
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Esther Zamudio of  Zamudio Realty Group 

NEARBY SCHOOLS & PROPERTIES

Erin Booker | Ellis Booker | Andrew Austria

Erin Booker | Ellis Booker | Andrew Austria

Real Estate Team License ID: 475.192053

+1(847) 418-7318

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224 W Michael LN