Homes for sale - 7317-19 S Luella AVE, Chicago, IL 60649

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Legacy Property Management

propertymanagement@legacypropertiesil.com +1(224) 999-9200

$ 850,000

Est. payment | -/mo

Save

$ 850,000

Est. payment | -/mo

Save

Key Details

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12402913

Maintenance Fees $2,000

Year Built 1927

Annual Tax Amount $3,818

Tax Year 2023

Lot Dimensions 6250

Property Sub-Type Multi Family 5+

Property Description

Hello! This magnificent residential multi-unit building in the south shore area is an exciting opportunity for investors/homeowners. The structure, which is regarded as a landmark, comprises six units in total, all in excellent condition. One unit is currently owner-occupied whereas the remaining five are rented out to long-standing tenants, all on a month-to-month lease basis. The beautiful facade features large picture windows in each living room a unique symbol and design. The building includes 18+ bedrooms, 14 bathrooms above grade. The basement oozes potential complete with a family/recreational room, an additional bedroom, a full-featured kitchen, and one and a half bathrooms, with its own front and back exits that lead directly to the outdoors, it can function as a completely separate living space, making it perfect for landlords who want to maximize their profits or large families in need of some extra space. The six above grade apartments maintain traditional character elements throughout with high ceilings, crown moldings, hardwood floors, six fireplaces, and Juliet balconies, offering a blend of classic charm and modern comfort. All units include kitchen appliances that sell with the property. Each unit has separate "cooking gas only" and separate electric. Moreover, it features a shared outdoor cement patio space in the back exterior for all tenants to enjoy. Parking won't be an issue thanks to the two spacious 2.5 car garages. Inside, you'll find it just as impressive. The owner-occupied unit gives the owner command over the property while also benefiting from the rental income. This building also offers a solid investment opportunity with all rented units generating a stable income or converted into condos. Located centrally in a vibrant neighborhood, it's a short walk to parks, shops, cafes, public transportation and the lakefront.. This property provides a perfect balance between residential living and urban amenities making it a highly attractive rental or condo conversion proposition. Seize this unique opportunity and make it your own asset today!

Location

State IL

County Cook

Area Chi - South Shore

Zoning MULTI

Rooms

Basement Partially Finished, Exterior Entry, 8 ft + pour, Concrete, Rec/Family Area, Sleeping Area, Storage Space

Interior

Cooling Window Unit(s)

Fireplaces Number 6

Fireplace Y

Building

Dwelling Type Multi Family 5+

Level or Stories 3

Structure Type Brick,Concrete

Listed by Norma Lawson • EXIT Strategy Realty

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(224) 999-9200

propertymanagement@legacypropertiesil.com

1350 Remington Rd, Suite B, Schaumburg, IL, Other

7317-19 S Luella AVE Chicago, IL 60649