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Listed by Jack Doyleof Essex 312, LLC
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Est. payment | /mo
9 Beds
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Est. payment | /mo
9 Beds
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 12758652
Bedrooms 9
Year Built 1888
Annual Tax Amount $17,234
Tax Year 2025
Lot Dimensions 3100
Property Sub-Type Two to Four Units
Property Description
Introducing 3208 North Seminary tucked into the heart of Lakeview, just a block from the Belmont CTA and a short walk from Wrigley Field and the energy of Clark Street, this four-unit building with a two-car garage sits where renters want to live. It has had the same owner since 2002 and it shows. Every unit has been fully renovated in the last ten years with hardwood floors, granite countertops and porcelain-tiled baths, and the updates have kept coming, including new windows, LED lighting, electronic entry locks, and new furnaces, A/C units and appliances in 2024. Two 3-bedroom units, a renovated 2-bedroom duplex and a garden 1-bedroom each have their own heating, cooling and hot water, which keeps the owner's costs low. The building is fully leased through June 2027 and brings in $139,674 a year against just $24,547 in expenses, for a 6.57 cap rate at $1,600,000. Rents are still below market, with about $11,400 a year in upside, and the building has stayed full anyway. That gives an investor steady income today and a clear path to more as the leases come up.
Location
State IL
County Cook
Rooms
Basement None
Interior
Heating Other
Fireplace N
Exterior
Garage Spaces 2.0
View Y/N true
Roof Type Asphalt
Building
Foundation Concrete Perimeter
Sewer Other
Water Other
Structure Type Other
New Construction false
Schools
Elementary Schools Nettelhorst Elementary School
Middle Schools Nettelhorst Elementary School
High Schools Lake View High School
School District 299, 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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