3314 W Carroll Avenue, Chicago, IL 60624

Imagine the possibilities at 3314 W Carroll Ave, a vacant, all-brick three-unit in Chicago's dynamic 60624. This property isn't just gutted; it's a blank canvas with stamped drawings and approved permits in hand to transform it from a five-bedroom, three-bath layout into a modern six-bedroom, three-bath configuration. Backed by a current zoning certificate and a recent survey, the groundwork for your vision is complete. The current owner has already tackled the heavy lifting: demolition, debris removal, framing, and preliminary plumbing and electrical rough-in (including plumbing risers and the service panel). Adding even more value, approximately $15,000 worth of rough plumbing and electrical materials, such as water heaters, conduit, and copper lines, will be made available to the buyer. Once built out, easily achievable, projected rents of $1,950 per unit translate to $71,000 in potential annual income-equating to a 6.2 GRM and a conservative 7.0 cap rate, with clear upside … read more …