3501 W Palmer Street, Chicago, IL 60647
- Beds
- 9
- Baths
- 4
View property features, location on map, relevant school information and overview from seller's agent.
- 2
- 0
Overview
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
Full feature list
Basic info
- Property type
- Multi-family
- Number of bedrooms
- 9
- Number of bathrooms
- 4
- Year built
- 1897
Interior features
- Basement
- Yes
Utilities
- Heating
- Natural gas
- Sewer
- Public sewer
- Water
- Public
Estimated monthly costs
- Electricity
- $480
- Insurance
- $2,340
Taxes
- Tax Annual Amount (2023)
- $5,625.20
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: Midwest Real Estate Data (MRED) MLS®#: 12502469 Last checked: …

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.