1501 S Kolin Avenue Chicago, IL $ 799,000
1501 S Kolin Avenue
$ 799,000
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1501 S Kolin Avenue

Chicago, IL, 60623
$ 799,000
Bedrooms5 Baths0.0

Monthly Estimate*

$ 4,985

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1501 S Kolin Avenue, Chicago, IL 60623 - Image 9

Multi-Family Home for sale in Chicago, IL

for $799,000 with 5 bedrooms. This home was built in 1924 on a lot size of 0.08.

Discover an exceptional investment opportunity with this fully occupied 7-unit brick building that delivers immediate income potential. This well-maintained property features individual in unit furnaces and BRAND NEW separate water heaters, ensuring tenant comfort while minimizing owner expenses. The building showcases thoughtful updates throughout, including modernized kitchens and bathrooms, as well as BRAND NEW copper plumbing that stands the test of time. Recent improvements include professional roof maintenance with silver coating and newer vinyl windows (2023) that enhance both energy efficiency and curb appeal. The property features 3 spacious three-bedroom, one-bathroom units and 4 two-bedroom, one bathroom units with generous living areas and large bedrooms that tenants love. The solid brick construction provides durability and timeless appeal while maintaining excellent occupancy rates. This turnkey investment requires no immediate property improvements, making it perfect for investors seeking steady cash flow from day one. The building's proven track record of high occupancy rates and premium rents speaks to its desirable location and quality management potential.

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Multi-Family Contingent

Price

$ 799,000

Bedrooms

5

Property Type

Multi-Family

Taxes

$ 11,881

Style

Multi-Family

Lot Size

0.08

Year Built

1924

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12418665

Features
General
Possession Immediate
Zoning MULTI
Construction Materials Brick
Year Built 1924
Tenant Pays Electricity Heat
Stories Count 3
Township West Chicago
Tax Year 2023
Current Use Multi-Family
Gross Income 131400
County Cook
Net Operating Income 94159
Operating Expense 37241
Insurance Expense 13000
Property Type Commercial Sale Multi Family 5+
Contingency Attorney/Inspection
MaintenanceExpense 0
Status Contingent
Directions Southeast corner Kolin and 15th street
City Chicago
Number Of Units Total 7
MLS Area CHI - North Lawndale
Lot Size Square Feet 3765
Tax Annual Amount 11881
Electric Expense 960
Fuel Expense 0
Trash Expense 1200
Water Sewer Expense 10200
Additional Parcels Y/N N
Standard Status Active Under Contract
Cap Rate 11
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Exterior
Lot Dimensions 30 X 125.5
Lot Size Acres 0.08
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* Excluded Features
List By
Berkshire Hathaway Homeservices American Heritage

Broker

victor@yourpad.com

Email

Affordability Calculator

$5,975
Per Month
83%
17%
0%
Monthly Principal & Interest
$4,985
Monthly Property Taxes
$990
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
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/13/2025$799,000 Listed Price

Map


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1501 S Kolin Avenue, Chicago, IL, 60623 is a Multi-Family Home for sale at $799,000 with a lot size of 0.08. 1501 S Kolin Avenue has 5 bedrooms, 0.0 baths, and was built in 1924. The property's zip code is 60623 which is in Chicago, IL