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$ 630,000
Est. payment /mo
New
1307 S Kedzie AVE Chicago, IL 60623
12 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12697348
Bedrooms 12
Year Built 1897
Annual Tax Amount $10,163
Tax Year 2024
Lot Dimensions 3,000 SQ FT
Property Sub-Type Two to Four Units
Property Description
Turnkey 4-unit brick greystone, fully gutted and rebuilt in 2020, offering four spacious 3-bedroom /1-bath units (12 bedrooms total) plus a finished walkout garden level and two exterior parking spaces. Steps from Douglass Park and the Pink Line, and minutes to the Illinois Medical District, the West Loop, and I-290 - a location drawing steady renter demand and sustained investor interest along the revitalizing Ogden corridor. Each unit was rebuilt with modern kitchens, updated baths, and separate mechanicals, positioning the building for immediate lease-up at current market rents. Comparable renovated 3-bedroom units in North Lawndale are leasing in the $1,500-$1,800 range, giving a new owner a clear path to strong, stabilized cash flow with value-add upside on any below-market unit. Tax advantage: The 2025 assessment was successfully appealed at the Cook County Board of Review, reducing the assessed value from 50,400 to 40,174 - roughly a 20 pct reduction and an estimated annual savings of about $2,000. Post-appeal real estate taxes are projected in the ~$7,600-$8,100 range, materially lowering carrying costs and directly improving NOI for an income-focused buyer. Ideal for an investor seeking stabilized West Side cash flow or an owner-occupant house-hacker. As a 4-unit, the building qualifies for the Fannie Mae 5 pct-down owner-occupant program (2-4 units), which - unlike FHA - does not require the property to pass the self-sufficiency (net rental income) test, widening the buyer pool. Financing eligibility subject to buyer qualification. Offering memorandum with rent roll and expense detail available on request.
Location
State IL
County Cook
Area Chi - North Lawndale
Rooms
Basement Finished, Full, Walk-Out Access
Interior
Heating Natural Gas
Fireplace N
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Brick
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Scott Siegel of Chicago Real Estate Authority