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$ 763,000
$ 779,000 2.1%
Est. payment /mo
Sold on 12/18/2025
3501 W Palmer ST Chicago, IL 60647
9 Beds
4 Baths
UPDATED:
Key Details
Sold Price $763,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
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
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
Interior
Heating Natural Gas
Exterior
Roof Type Asphalt
Building
Lot Description Corner Lot
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
Special Listing Condition None
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Philip Leigh of Essex 312, LLC
Bought with Amy Pearson of @properties Christie�s International Real Estate
Bought with Amy Pearson of @properties Christie�s International Real Estate