1442 S Springfield Avenue, Chicago, Illinois 60623
- $599,000
- 9
- BD
- 4
- BA
- List Price
- $599,000
- MLS#
- 12739879
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Residential Income
- Bedrooms
- 9
- Bathrooms
- 4
- County
- Cook
- City
- Chicago
- Neighborhood
- Lawndale
- Days On Market
- 15
Property Description
Turnkey 4-Unit - Full Gut Rehab - Double Lot - North Lawndale This is a complete, permitted, top-to-bottom rehab - not a paint-and-carpet flip. Every system, surface, and finish in this 4-unit brick building is new: new roof line and rear porches, new electrical, new plumbing, new HVAC (separate furnace and water heater per unit), new windows, new floors, new kitchens, new baths. A buyer walks into day-one cash flow with zero deferred maintenance and years before anything needs touching. Quartz counters, white shaker cabinetry with black hardware, subway tile backsplash, stainless appliance packages, wide-plank LVP flooring, and matte-black fixtures throughout. Bathrooms are fully tiled in a marble-look porcelain surround with black plumbing fixtures. The building sits on a double lot, with a fenced yard, mature trees, and a rebuilt rear deck and stair system. It's steps from a community garden, greenhouse, and playground - a real amenity for family tenants Upside built in: the attic is unfinished - roughly 1,560 sq ft of raw space with a brick chimney and full-height rafters, sitting untouched above four fully finished units. Combined with the double lot, there's real room here to add value beyond current rent roll, subject to zoning and permitting review. Cash flow: projected at $6,000+/month across all four units - real numbers on a fully renovated building with no near-term capex looming. Two ways to own this: House-hack it - live in one of the 2-bed units and let the other three cover your mortgage, taxes, and insurance, with a fully renovated home from day one and no rehab weekends. Or hold it as a retirement asset - over $6,000/month in projected cash flow from a fully renovated 4-unit with new systems, low near-term maintenance calls, and four separate income streams to smooth out vacancy risk. Either way, the work's been done - you're buying stabilized cash flow, not a project. Bring your best offer - this one won't need a punch list.
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Additional Information
- School District
- 299
- Corporate Limits
- Chicago
- Tax Year
- 2025
- Year Built
- 1898
- Lot Dimensions
- 125x50
- Lot Size Range
- Less Than .25 Acre
- Units
- 4
- Parking Spaces
- 4
- Parking Details
- Yes
- Heating
- Forced Air
- Sewer
- Public Sewer
Mortgage Calculator
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