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3501 W Palmer Street Chicago, IL $ 779,000
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$ 779,000 Get more info
3501 W Palmer Street
$ 779,000
Back to search
Share Save

3501 W Palmer Street

Chicago, IL, 60647
$ 779,000
Bedrooms9 Baths4.0

Monthly Estimate*

$ 4,860

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Multi-Family Home for sale in Chicago, IL

for $779,000 with 9 bedrooms and 4 full baths. This home was built in 1897.

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.

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Multi-Family Contingent

Price

$ 779,000

Bedrooms

9

Full Bath

4

Property Type

Multi-Family

Taxes

$ 5,625

Style

Year Built

1897

Town/City

Chicago

County/Region

Cook

MLS | Web ID

12502469
Features
General
Sewer Public Sewer
Heating Natural Gas
Possession Tenant's Rights
Roof Asphalt
Construction Materials Vinyl Siding
Year Built 1897
Township Jefferson
Tax Year 2023
Ownership Fee Simple
Gross Income 84120
County Cook
Net Operating Income 62837
Insurance Expense 2340
New Construction N
Property Type Residential Income Two to Four Units
Contingency Attorney/Inspection
MaintenanceExpense 4000
Total Rooms 18
Status Contingent
Directions From the intersection at N Kimball Ave & W Fullerton Ave head south on N Kimball Ave toward W Fullerton Ave. Turn right onto W Palmer St and the property will be on the left.
City Chicago
High School District 299
MLS Area CHI - Logan Square
Tax Annual Amount 5625.2
Electric Expense 480
Water Sewer Expense 1920
Standard Status Active Under Contract
Middle/Junior School District 299
Elementary School District 299
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Interior
Basement Crawl Space Partial
Total Bedrooms 9
Total Baths 4
Bedrooms Possible 9
Full Baths Building 4
Half Baths Building 0
Total Number of Units 4
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Exterior
Parking Features Unassigned Off Street Yes Owned
Lot Features Corner Lot
Water Source Lake Michigan Public
Total Parking 4
Foundation Details Concrete Perimeter
Lot Dimensions 3052 SF
Waterfront Y/N N
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* Excluded Features
List By
Essex 312, Llc

Broker

garrett@essex312.com

Email

Affordability Calculator

$5,329
Per Month
91%
9%
0%
Monthly Principal & Interest
$4,860
Monthly Property Taxes
$469
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
See complete school information
Pricing History
DatePricePrice ChangeDescription
10/27/2025$779,000 Listed Price

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3501 W Palmer Street, Chicago, IL, 60647 is a Multi-Family Home for sale at $779,000. 3501 W Palmer Street has 9 bedrooms, 4.0 baths, and was built in 1897. The property's zip code is 60647 which is in Chicago, IL

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