2737 W Congress Parkway, Chicago, IL 60612
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2737 W Congress Parkway,Chicago, IL 60612
$249,900
- 10 Beds
- 5 Baths
- - sq. ft.
- Multi-family
- Pending
Listed by:michael applegate
Office:straight-a realty, llc.
MLS#:12346378
Source:MLSNI
Price summary
- Price:$249,900
About this home
***Asking price is only $249,900 - Estimated After-Repair-Value is $677,000*** Incredible opportunity to own a legal 2-flat with a bonus garden apartment in the rapidly developing East Garfield Park (Tri-Taylor) neighborhood-steps from the Western Blue Line, 15 minutes to UIC via I-290, and surrounded by new construction, including the $7B "1901 Project" near the United Center that's set to transform the area with thousands of new residences, parks, retail, and entertainment. The property features a new back porch (2021), roof replaced within the last 6 years, and will be delivered fully vacant at closing. Zoned RM-5 and located in the West ADU zone, it qualifies for conversion into a legal 3-unit under the City's ADU Ordinance-unlocking major value and rental income potential. Renovated 2-units in the area have recently sold for an average of $546,000, while a full 3-unit conversion pushes the estimated after-repair value to $677,000. Renovated 3-4 bedroom apartments in this neighborhood rent for $2,916-$2,974/month, creating a projected rental income of nearly $9,000/month when fully occupied. Whether you're an investor looking for cash flow or an owner-occupant hoping to "house hack" by living in one unit and letting the other two cover most-if not all-of your expenses, this is a smart buy with serious upside. Excellent candidate for an FHA 203k renovation loan-bring your vision and build equity from day one.
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Home facts
- Year built:1901
- Listing Id #:12346378
- Added:109 day(s) ago
- Updated:August 13, 2025 at 07:39 AM
Rooms and interior
- Bedrooms:10
- Total bathrooms:5
- Full bathrooms:4
- Half bathrooms:1
Heating and cooling
- Heating:Forced Air, Natural Gas
Structure and exterior
- Roof:Rubber
- Year built:1901
Utilities
- Water:Lake Michigan, Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$249,900
- Tax amount:$8,825 (2023)
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