1XXX S Christiana Ave, Chicago, IL 60623
Basics
- Bedrooms: 7
- Bathrooms: 2
- Half baths: 1
- Area: 2466 sq ft
- Lot size: 3125 sq ft
- Year built: 1893
Description
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Description:
Located in Chicago’s North Lawndale neighborhood, this all-brick multi-family property, built in 1893, offers a total of 7 bedrooms and 2.5 bathrooms across 2,466 square feet of living space on a 3,125 square foot lot. The property features an unfinished basement with high ceilings that present potential for an additional unit. It also includes a frame garage and is currently tenant-occupied with long-term, month-to-month tenants. Showings are available by appointment only.
Financial Snapshot
The property is offered at a marketing price of $295,000.
The projected after-repair value (ARV) is $415,000, supported by recent comparable sales in the neighborhood:1907 S Christiana Ave – Sold AS IS for $350,000 (11/08/2024)
1520 S Homan Ave – Renovated greystone, sold for $500,000 (02/21/2025)
2447 S Christiana Ave – Sold for $425,000 (11/19/2024)
Current rental income is $2,400 per month (first floor: $1,100 & second floor: $1,300), with annual property taxes of $2,714.18.
Property Overview
This solid greystone building has two units:
- First Floor: 3 bedrooms, 1 bathroom, large living room, new furnace, and updated kitchen (2020).
- Second Floor: 4 bedrooms, 1.5 bathrooms, updated kitchen (2020), and recently refinished floors.
The basement has high ceilings with potential to be converted into another unit or additional living space. Bathrooms will need some updates, and the property currently carries a violation related to the porch. The structure overall is in good condition, with strong bones and updated major systems.
Investment Highlights
This property offers a strong value-add opportunity with multiple exit strategies:
- Keep tenants in place for steady cash flow while addressing deferred maintenance.
- Add value through targeted updates to kitchens, baths, and porch compliance.
- Explore potential for a third basement unit to increase rental income and property value.
With its desirable location in North Lawndale and recent comparable sales supporting a $415,000 ARV, this investment is ideal for both buy-and-hold investors and value-focused renovators.
Market Context
North Lawndale continues to attract investors seeking strong rental returns and long-term appreciation. The area’s proximity to Douglass Park, the Mount Sinai medical corridor, and major transportation routes drives steady tenant demand. Home values have grown approximately 15–18% over the past five years, supported by ongoing community development and city investment in the West Side neighborhoods.
Terms
Cash or hard-money buyers only. Seller financing is not available.
Contact
For all inquiries, showing requests, or additional information, please call 1-888-775-4570 or email sales@sharpedgeproperty.com.