5508 W Chicago Avenue Chicago, IL $ 544,500
5508 W Chicago Avenue
$ 544,500
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5508 W Chicago Avenue

Chicago, IL, 60651
$ 544,500
Bedrooms5 Baths4.1 Sq 1,943

Monthly Estimate*

$ 3,397

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Multi-Family Home for sale in Chicago, IL

for $544,500 with 5 bedrooms and 4 full baths, 1 half bath. This 1,943 square foot home was built in 1942.

PRIME 2-FLAT PROPERTY WITH COMMERCIAL SPACE - GREAT INVESTMENT OPPORTUNITY! Seize this FANTASTIC INVESTMENT OPPORTUNITY with a potential 11.5% CAP RATE - perfect for savvy investors or owner-occupants looking to maximize returns! PROPERTY HIGHLIGHTS: TWO SEPARATE LIVING UNITS - Each with its own kitchen, dining area, and baths, ideal for tenants or extended family living. OPEN FIRST-FLOOR COMMERCIAL SPACE - Includes a private front entrance and a half bath, perfect for a BARBER SHOP, COFFEE SHOP, SMALL OFFICE, OR STUDIO - generating additional rental income potential. SPACIOUS LAYOUTS - Well-designed interiors provide comfortable and functional living spaces. AMPLE STORAGE & UTILITY SPACES - Practical design to meet everyday needs. EXCELLENT CONNECTIVITY - Easy access to public transit, major roads, schools, shopping, and dining. ENDLESS POSSIBILITIES: Generate RENTAL INCOME from multiple residential units Lease or use the COMMERCIAL SPACE for your own business Ideal for OWNER-OCCUPANTS seeking additional income Secure a LONG-TERM INVESTMENT in a thriving neighborhood This is your chance to own a MIXED-USE, CASH-FLOWING PROPERTY in a desirable location. DON'T MISS OUT - SCHEDULE YOUR SHOWING TODAY!

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Multi-Family Active

Price

$ 544,500

Bedrooms

5

Full Bath

4

Half Bath

1

Property Type

Multi-Family

Taxes

$ 2,081

Style

Year Built

1942

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12300973

Features
General
Sewer Public Sewer
Heating Natural Gas
Possession Closing
Construction Materials Brick
Year Built 1942
Township West Chicago
Tax Year 2023
Ownership Fee Simple
Gross Income 68040
County Cook
Net Operating Income 63290
Insurance Expense 2750
New Construction N
Property Type Residential Income Two to Four Units
Total Rooms 16
Status Active
Directions E/W on Chicago Ave to address
City Chicago
High School District 299
MLS Area CHI - Austin
Tax Annual Amount 2081.39
Electric Expense 0
Fuel Expense 0
Water Sewer Expense 2000
Standard Status Active
Middle/Junior School District 299
Elementary School District 299
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Interior
Basement None
Total Bedrooms 5
Total Baths 4
Bedrooms Possible 5
Full Baths Building 3
Half Baths Building 1
Total Number of Units 2
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Exterior
Parking Features Yes
Water Source Lake Michigan Public
Total Parking 6
Foundation Details Concrete Perimeter
Lot Dimensions 25 X 122
Waterfront Y/N N
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* Excluded Features
List By
Exp Realty

Broker

JRE@JarekRealEstate.com

Email

Affordability Calculator

$3,570
Per Month
95%
5%
0%
Monthly Principal & Interest
$3,397
Monthly Property Taxes
$173
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
566059 Elementary School
566846 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
9/23/2025$544,500 -0.91% Price Down
2/28/2025$549,500 Listed Price

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5508 W Chicago Avenue, Chicago, IL, 60651 is a Multi-Family Home for sale at $544,500 with 1,943 sqft. 5508 W Chicago Avenue has 5 bedrooms, 4.1 baths, and was built in 1942. The property's zip code is 60651 which is in Chicago, IL