29
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$850,000
Est. payment /mo
New
7317-19 S Luella AVE Chicago, IL 60649
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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
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Listed by Norma Lawson • EXIT Strategy Realty