NEW! Buy and sell safely with virtual options - Learn More
About the Listing 87488 - 1011847
Investment opportunity in Evanston! This versatile duplex offers a rare combination of strong rental income, flexible layout, and house-hacking potential. Featuring a total of 4 bedrooms, 3 bathrooms, plus a unique heated bonus room with closet, the property works for both savvy investors looking for cash flow and owner-occupants hoping to produce rental income. Unit 1 (Main Level) includes 2 bedrooms, 1 bathroom, and a bonus room that has been successfully leased as a third bedroom for the past two years. It is currently occupied by a Housing Authority of Cook County (HACC) voucher tenant with a lease in place through April 2026. The unit rents for $2,899 per month, with the tenant paying $399 and HACC paying $2,500 directly to the landlord. This stable lease provides reliable, guaranteed income for the next owner. Unit 2 (Top Floor) offers 2 bedrooms and 1 bathroom. It has undergone recent updates, including a full kitchen renovation in 2022. For the past three years, it was rented to a HACC voucher tenant at $2,100 per month ($1,366 paid by HACC). The unit is now vacant, creating flexibility for the new buyer: lease it out immediately to a new tenant, or occupy it as an owner while keeping Unit 1 rented to cover a substantial portion of your expenses. Key highlights include: unique bonus room with heat and closet expanding usability of Unit 1, strong rental history with long-term Housing Authority tenants, attractive financing potential when purchased as a primary residence, use of Unit 1's guaranteed income to strengthen financing options and significantly reduce out-of-pocket housing costs, a recently updated Unit 2 that is move-in ready and ideal for tenants or an owner-occupant, and professional property management available and ready to assist with leasing Unit 2 for the next owner, ensuring a seamless transition. As-Is sale. Please respect tenant privacy - no showings of Unit 1 until after contract acceptance. With one unit already generating strong income and the second unit vacant and ready, this property practically pays for itself. Investors will appreciate the stability of a long-term HACC lease and the upside of leasing the second unit at market or voucher rates. Owner-occupants will love the ability to live in a renovated unit while dramatically reducing monthly housing expenses. This is a rare chance to secure an income-producing property in Evanston with both stability and growth potential. Contact us today for details and to take advantage of this excellent opportunity. Agent-owned.
Listing Highlights for 2309 Foster St
Status
Active
Days on Site
11
Property Type
Multi-Family
MLS ®
12464397
Year Built
1909
Total Square Footage
0
Lot/Acreage
27X125
County
Cook
Area
Evanston
School District
156
Elementary School
Lincoln Elementary School
Middle School
Haven Middle School
High School
Evanston Twp High School
Interior Details
- Bedrooms: 4
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished,Full
- Other:
- Water: Public
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 0
- Lot Dimensions: 27X125
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $6,052
- Taxes w/Assessments: N/A
- Tax/Property ID: 10131060160000
- Tax Year: 2023
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Listing Location
Questions About..
2309 Foster St Evanston, IL 60201
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 -
