IL > Chicago
Chicago, IL 60647,3501 W Palmer ST
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Chicago, IL 60647,3501 W Palmer ST
Chicago, IL 60647,3501 W Palmer ST
Chicago, IL 60647,3501 W Palmer ST
Chicago, IL 60647,3501 W Palmer ST
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Craig Hogan

Craig Hogan

+1(773) 742-5929
$ 779,000
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3501 W Palmer ST Chicago, IL 60647

9 Beds

4 Baths

Open House

Thu Oct 30, 1:00pm - 3:00pm

Sat Nov 01, 10:00am - 12:00pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12502469

Bedrooms 9

Maintenance Fees $4,000

Year Built 1897

Annual Tax Amount $5,625

Tax Year 2023

Lot Dimensions 3052 SF

Property Sub-Type Two to Four Units

Property Description

Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place. The building sits immediately west of Palmer Square and Kedzie Boulevard with recent, nearby new build single-family home sales under contract near $1.5 million. The existing rent roll comprises $84,120 of revenue or a 9.2x gross revenue multiple on in-place income. Additional revenue can be creted by (i) marking the existing rent roll to market, (ii) adding a parking slab with three exterior stalls at the rear of the building, and (iii) creating a small outdoor garden/amenity area in the existing gravel yard at rear. This value-add is projected to result in $96,200 of revenue or a stabilized 7.8x GRM, roughly a 10.0% return-on-cost. All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.

Location

State IL

County Cook

Area Chi - Logan Square

Rooms

Basement Crawl Space, Partial

Interior

Heating Natural Gas

Fireplace N

Exterior

Roof Type Asphalt

Building

Lot Description Corner Lot

Dwelling Type Two to Four Units

Building Description Vinyl Siding, No

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Vinyl Siding

New Construction false

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Midwest Real Estate Data (MRED) IDX
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Philip Leigh of  Essex 312, LLC 
Craig Hogan | Rudy Zavala

Craig Hogan | Rudy Zavala

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3501 W Palmer ST