3037 W Lexington ST Open House Save Request In-Person Tour Request Virtual Tour
Chicago,IL 60612
OPEN HOUSE
Fri Nov 14, 12:00pm - 2:00pm
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12497730
Style Other
Bedrooms 8
Year Built 1890
Annual Tax Amount $3,811
Tax Year 2023
Lot Dimensions 3125
Property Sub-Type Two to Four Units
Property Description
SUPER AFFORDABLE Opportunity with LOW Property taxes |$3,811 without a homeowner's exemption | This fully gut-rehabbed, permitted LEGAL 2-FLAT offers 3 finished income-producing units and is located in Chicago's rapidly appreciating West Side corridor. Conservative three-bedRM Rental comp located at 2921 W Jackson | MLS#12338227 | 3bed/1bath | rented for $1,900. While a two-bedrm (without den) rented rented for $1,995, see comp:3328 W Congress Pkwy, Unit 1 | MLS# 12440357. Conservative Estimated Monthly Rental Income: $1900+1900+1800 (not including parking spaces) $5,600 |Estimated Annual Rental Income: $67,200. This classic Chicago red-brick building offers timeless curb appeal, solid masonry construction, and architectural elements investors and tenants love; 10-ft ceilings, redesigned open-concept floor plans, oversized windows, and restored character balanced with modern upgrades. The property features three turnkey units (1st & 2nd floor units: 3bd/1ba + basement: 2bd+den/1ba). Each unit has been fully updated with brand-plumbing, electrical, separate furnaces, separate water heaters, individual electrical panels, and in-unit washer/dryer hook-ups. Designed for maximum efficiency to support tenant comfort, minimize vacancies, and streamline property management. Stylish modern finishes, redesigned layouts, and move-in-ready condition make this asset ideal for securing premium rents. Spacious rear decks extend the living space, adding tenant appeal and additional value. Located in a highly appreciating West Side neighborhood positioned for continued rental demand and property value growth, with proximity to downtown, transit, major expressways, medical district expansion, and ongoing regional investment. As rents rise and redevelopment continues throughout surrounding communities, this building offers both strong cash-flow potential and long-term appreciation upside. Whether you're an investor seeking a completely rehabilitated, low-maintenance asset, or an owner-occupant looking to house-hack with major rental income, this property delivers the perfect blend of historic character, modern efficiency, and scalable income potential. A rare turnkey multi-unit opportunity not to be missed.
Location
State IL
County Cook
Area Chi - East Garfield Park
Zoning MULTI
Rooms
Basement Finished,Full
Interior
Heating Natural Gas
Equipment CO Detectors,Water Heater-Gas
Fireplace N
Exterior
Community Features Water Rights,Curbs,Gated,Sidewalks,Street Lights,Street Paved
Roof Type Rubber
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan,Public
Structure Type Brick
New Construction false
Schools
Elementary Schools Jensen Elementary School Olastic
Middle Schools Jensen Elementary School Olastic
High Schools Manley Career Academy High Schoo
School District 299 ,299, 299
Others
Ownership Fee Simple
Special Listing Condition None