3622 W Franklin Boulevard
Chicago, IL 60624
- 9 beds
- 3 baths
- – sqft
- 1907 build
- – on site
This exceptional three-flat in the vibrant Humboldt Park neighborhood offers a unique opportunity for both investors and owner-occupants to capitalize on a property with tremendous potential. Each of the three spacious units features three bedrooms, one bathroom, In-Unit Washer and Dryer, and a utility/laundry sink-perfect for added convenience. Renovated just four years ago, the property is in excellent condition, awaiting minor touch-ups to reach its full potential. The updated kitchens boast sleek stainless steel appliances, dishwashers, marbled quartz countertops with breakfast bars, and modern white shaker cabinets. Each unit is equipped with central A/C, recessed lighting, and a contemporary color palette, creating a bright and inviting atmosphere. Additional upgrades include tuckpointing and new windows (2020), and the charm of high ceilings and hardwood floors further enhances the appeal. All hot water tanks were replaced in January 2025, providing added peace of mind for future maintenance. The rear numbered parking pad offers the opportunity for additional rental income. Currently, all units are fully occupied with tenants paying below-market rents-two on month-to-month leases and two with CHA vouchers. With minor improvements, you could raise rents to as much as $2,600 per month, making this an ideal property for immediate cash flow and long-term growth. Equity Opportunity and Upside: The seller acknowledges that the property is in a stabilization phase, which is reflected in the heavily discounted asking price. With an after-repair value (ARV) exceeding $650,000, the property offers substantial equity potential of over $125,000. This equity accounts for the effort required to maximize rental income and improve the property's valuation. This property is well-located near shopping, dining, parks, and public transit, with easy access to I-290. The property will be sold as-is and offers the potential to quickly increase rental income and overall property value. Don't miss this opportunity-schedule a showing today! Tenants' rights will apply.
Last checked:
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Last updated Jan 14, 2025
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MLS# 12158369 —
The Building
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Year Built:1907
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Rebuilt:No
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New Construction:false
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Roof:Rubber
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Basement:None
Interior
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Rooms Total:17
Location
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Directions:290 TO 3622 W FRANKLIN BLVD
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Location:27867
The Property
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Parcel Number:16111250200000
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Property Type:Residential Income
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Location:N
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Lot Size Dimensions:4420
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Zoning:MULTI
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Waterfront:false
Listing Agent
- Contact info:
- Agent phone:
- (847) 530-8441
- Office phone:
- (630) 288-2446
Taxes
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Tax Year:2023
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Tax Annual Amount:7194.98
Beds
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Bedrooms Total:9
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Bedrooms Possible:9
Baths
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Baths:3
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Full Baths:3
The Listing
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Special Listing Conditions:None
Heating & Cooling
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Heating:Natural Gas
Utilities
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Sewer:Public Sewer
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Water Source:Public
Schools
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Elementary School District:299
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Middle Or Junior School District:299
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High School District:299
Parking
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Parking Total:3
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Parking Features:Unassigned, Off Alley
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Parking Onsite:Yes
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Parking Ownership:Owned
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/2/25
Jan 2, 2025
|
Listed / Active | MRED | $525,000 | |
|
12/12/24
Dec 12, 2024
|
Sold Subject To Contingencies | MRED | $525,000 | |
|
12/12/24
Dec 12, 2024
|
Listed / Active | MRED | $525,000 |
