3123 West Monroe Street
3123 West Monroe Street
$595,000
12
4
—
—
—
Contingent
Description
Welcome to Fifth City/East Garfield Park, where opportunity knocks louder than ever before! This listing presents an unparalleled turnkey investment opportunity with boundless potential for growth. Let's delve into the remarkable features that make this property a standout choice for savvy investors: Prime Location: Nestled in the vibrant Fifth City/East Garfield Park area, this property enjoys proximity to Fifth City Commons, a newly developed 43-unit apartment complex, signaling the neighborhood's...Welcome to Fifth City/East Garfield Park, where opportunity knocks louder than ever before! This listing presents an unparalleled turnkey investment opportunity with boundless potential for growth. Let's delve into the remarkable features that make this property a standout choice for savvy investors: Prime Location: Nestled in the vibrant Fifth City/East Garfield Park area, this property enjoys proximity to Fifth City Commons, a newly developed 43-unit apartment complex, signaling the neighborhood's upward trajectory. Recent Renovation: A comprehensive interior renovation in 2019 ensures that this property offers modern comforts while preserving its classic charm, setting the stage for immediate occupancy or further enhancement. Investor's Dream: With 3 out of 4 current leases held by CHA tenants, this property presents a lucrative opportunity for investors seeking stable rental income. Development Potential: Positioned amidst city-owned lots earmarked for development, this property stands to benefit from the area's planned growth initiatives, driving up property values in the near future. ARO Program Inclusion: As part of the City of Chicago's Affordable Requirements Ordinance (ARO) program at 100% AMI, this building aligns with the city's commitment to affordable housing, offering potential incentives for investors. Expansion Possibilities: Approved permit plans for the addition of two garden-level units provide a clear path to substantially increase revenue streams, maximizing the property's income potential. Zoning Advantages: Zoned RM-5, this property presents opportunities for further unit additions, subject to evaluation, allowing investors to explore expansion possibilities within the regulatory framework. This property represents a gateway to a lucrative investment journey in one of Chicago's most promising neighborhoods. Don't miss out on this golden opportunity to secure your foothold in Fifth City/East Garfield Park's thriving real estate market! Pro Forma Income: (4) Units - $81,600 | (6) Units - $115,200
- Listed by Damon Dance • Devise Property Group LLC
Property Details for 3123 West Monroe Street
Area
CHI - East Garfield Park
TownshipWest Chicago
OwnershipFee Simple
Num Of Parking Spaces2.0
Parking Included in PriceYes
Heat/FuelNatural Gas
Location
LISTING UPDATED: 05/11/2024 03:49 PM
Property Details for 3123 West Monroe Street
Status | Contingent |
---|---|
MLS # | 12048173 |
Days on Market | 5 |
Taxes | $3,213 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Two to Four Units / 4 Flat |
Year Built | 1905 |
Lot Size | 0.11 AC / 4,704 SF |
County | Cook County |
Location
Building Information for 3123 West Monroe Street
Stories-Residences4Year Built1905Building Size-Lot Size0.11 AC / 4,704 SF
Payment Calculator
$3,515 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 3123 West Monroe Street
Property History for 3123 West Monroe Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3123 West Monroe Street
Taxable ValueLand$2,397Additions$7,400Total$9,797
Tax Record2022$2,022 ($168 / month)
Home Facts
Baths4Total Finished SqFt7,538 SqFtAbove Grade Finished SqFt7,538 SqFtStories2Lot Size2,040 SqFtStyleMulti-Family Res (5+ Units)Year Built1908CountyCOOKAPN16-13-107-022
Schools near 3123 West Monroe Street
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 8 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Faraday Elementary School PublicPK to 8 | ||
Marshall Metropolitan High School Public9 to 12 | ||
Locke A Elementary Charter Academy CharterK to 8 | ||
LEARN Charles and Dorothy Campbell Campus CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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