$985,000
$969,900
1.6%For more information regarding the value of a property, please contact us for a free consultation.
1531 W NELSON ST Chicago, IL 60657
8 Beds
4 Baths
Key Details
Sold Price $985,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12316378
Sold Date 07/01/25
Style Victorian
Bedrooms 8
Year Built 1906
Annual Tax Amount $15,858
Tax Year 2023
Lot Dimensions 25X124
Property Sub-Type Two to Four Units
Property Description
Meticulously maintained legal three unit building on a quiet tree-lined street in the heart of trendy South Lakeview. The turnkey investment is fully occupied with leases in place until Spring/Summer of 2025 that generate monthly income of 6450. All three units cover their own utilities and are separately metered for gas and electric. The only building expenses for the owner are water, trash, and insurance. Unit 1 is an English garden 2bd/1bath leased thru 6/30/2025 for 1675. Unit 2 is a spacious 2bd/1bath leased thru 5/31/2025 for 1975. Unit 3 is a large duplex 3/4bd/2bath leased thru 6/30/2025 for 2975. The garage yields additional income of 175/month. This can be an ideal armchair investment with solid income as-is, or can be a value add play with strong upside for growth in rents. An excellent bldg to add to your investment portfolio on a fantastic street in one of the most desired neighborhoods on the Northside and located in the highly sought after Burley School District.
Location
State IL
County Cook
Area Chi - Lake View
Zoning COMMR
Rooms
Basement Finished, Walk-Out Access
Interior
Heating Natural Gas, Forced Air, Sep Heating Systems - 2+, Indv Controls, Zoned
Equipment Ceiling Fan(s)
Fireplace N
Appliance Humidifier
Exterior
Garage Spaces 2.0
Community Features Curbs, Gated, Sidewalks, Street Lights, Street Paved
Roof Type Asphalt
Building
Building Description Brick,Frame, No
Sewer Public Sewer, Storm Sewer
Water Lake Michigan
Structure Type Brick,Frame
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition List Broker Must Accompany
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© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Ariel Marini • Berkshire Hathaway HomeServices Chicago
Erin Booker | Ellis Booker | Andrew Austria
Real Estate Team | License ID: 475.192053