NEW! Buy and sell safely with virtual options - Learn More
About the Listing 27867 - 247911,264809,255325
***Asking price is only $249,900 - Estimated After-Repair-Value is $677,000*** Incredible opportunity to own a legal 2-flat with a bonus garden apartment in the rapidly developing East Garfield Park (Tri-Taylor) neighborhood-steps from the Western Blue Line, 15 minutes to UIC via I-290, and surrounded by new construction, including the $7B "1901 Project" near the United Center that's set to transform the area with thousands of new residences, parks, retail, and entertainment. The property features a new back porch (2021), roof replaced within the last 6 years, and will be delivered fully vacant at closing. Zoned RM-5 and located in the West ADU zone, it qualifies for conversion into a legal 3-unit under the City's ADU Ordinance-unlocking major value and rental income potential. Renovated 2-units in the area have recently sold for an average of $546,000, while a full 3-unit conversion pushes the estimated after-repair value to $677,000. Renovated 3-4 bedroom apartments in this neighborhood rent for $2,916-$2,974/month, creating a projected rental income of nearly $9,000/month when fully occupied. Whether you're an investor looking for cash flow or an owner-occupant hoping to "house hack" by living in one unit and letting the other two cover most-if not all-of your expenses, this is a smart buy with serious upside. Excellent candidate for an FHA 203k renovation loan-bring your vision and build equity from day one.
Listing Highlights for 2737 W Congress Pkwy
Status
Pending
Days on Site
144
Property Type
Multi-Family
MLS ®
12346378
Year Built
1901
Total Square Footage
0
Lot/Acreage
25X125
Interior Details
- Bedrooms: 10
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas,Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Full
- Other:
- Water: Lake Michigan,Public
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 2
- Lot Dimensions: 25X125
- Zoning: MULTI
- Roof: Rubber
- Others:
- Sewer: Public Sewer
- Parking Features: Off Alley,On Site
Financial Details
- Tax Amount: $8,825
- Taxes w/Assessments: N/A
- Tax/Property ID: 16132350150000
- Tax Year: 2023
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
2737 W Congress Pkwy Chicago, IL 60612
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
