Chicago, IL 60657 1531 W NELSON Street

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Presented By: Compass
  • MLS# 12316378
  • 03/25/2025
  • Request Tour
  • Request Info
  • Beds • 8
  • Baths • 4
  • Garage • 2

Home Details

Meticulously maintained legal three unit building on a quiet tree-lined street in the heart of trendy South Lakeview. The turnkey investment is fully occupied with leases in place until Spring/Summer of 2025 that generate monthly income of 6450. All three units cover their own utilities and are separately metered for gas and electric. The only building expenses for the owner are water, trash, and insurance. Unit 1 is an English garden 2bd/1bath leased thru 6/30/2025 for 1675. Unit 2 is a spacious 2bd/1bath leased thru 5/31/2025 for 1975. Unit 3 is a large duplex 3/4bd/2bath leased thru 6/30/2025 for 2975. The garage yields additional income of 175/month. This can be an ideal armchair investment with solid income as-is, or can be a value add play with strong upside for growth in rents. An excellent bldg to add to your investment portfolio on a fantastic street in one of the most desired neighborhoods on the Northside and located in the highly sought after Burley School District.
Presented By: Compass

Interior Features for 1531 W NELSON Street

Bedrooms

Bedrooms Possible8
Total Bedrooms8

Bathrooms

Full Baths Building4
Half Baths Building
Total Baths4

Other Interior Features

BasementFinished, Walk-Out Access
Total Number of Units3

General for 1531 W NELSON Street

AppliancesHumidifier
Architectural StyleVictorian
CityChicago
Community FeaturesCurbs, Gated, Sidewalks, Street Lights, Street Paved
Construction MaterialsBrick
ContingencyHouse to Close (48 Hr Kick-out)
CountyCook
DirectionsASHLAND BETWEEN BELMONT AND WELLINGTON.
Elementary School District299
Garage Spaces2
Gross Income81600
HeatingNatural Gas, Forced Air, Sep Heating Systems - 2+, Indv Controls, Zoned
High School District299
Insurance Expense3282
MLS AreaCHI - Lake View
Middle/Junior School District299
ModificationTimestamp2025-04-07T21:18:03.022Z
Net Operating Income60780
New ConstructionNo
OwnershipFee Simple
PossessionClosing
Property TypeResidential Income
Property TypeTwo to Four Units
RoofAsphalt
SewerPublic Sewer, Storm Sewer
Standard StatusActive
StatusActive
Tax Annual Amount15858.64
Tax Year2023
Total Rooms17
TownshipLake View
Water Sewer Expense1680
Year Built1906
ZoningCOMMR

Exterior for 1531 W NELSON Street

Foundation DetailsBrick/Mortar
Lot Dimensions25X124
Lot Size Acres
Model3 FLAT
Other EquipmentCeiling Fan(s)
Parking FeaturesGarage Door Opener, On Site, Garage Owned, Detached, Garage
Total Parking2
Water SourceLake Michigan
WaterfrontY/NNo

Additional Details

Price History

Client Care

Price $969,900
MLS#12316378
List Date 03/25/2025
Property Type Multi-Family
Phone 847.485.2500
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