Chicago, IL 60623 1515 S Drake Avenue
$800,000
14 more
Presented By: Compass
Beds • 10
Home Details
Legal 6-Unit | Fully Rehabbed | 10+ Cap Rate Incredible cash-flowing 6-unit building in North Lawndale, fully gut rehabbed and professionally managed. All units feature in-unit washer/dryer, hardwood floors throughout, and brand new kitchens and bathrooms. Current unit mix: (1) 4 bed / 2 bath, (1) 3 bed / 2 bath, (3) 2 bed / 1 bath, (1) 1 bed / 1 bath. scheduled rent: 113,268 annually. Estimated expenses at 25. Cap rate over 10 with stable tenants already in place. Located minutes from the 7B 1901 Project and near Douglass Park, Cinespace Studios, and Mt. Sinai Hospital. Ideal long-term hold with strong appreciation potential.
Presented By: Compass
Interior Features for 1515 S Drake Avenue
Other Interior Features
BasementFinished
General for 1515 S Drake Avenue
Additional Parcels Y/NNo
Cap Rate10
CityChicago
Construction MaterialsBrick
CoolingCentral Air
CountyCook
DirectionsDrake Ave North or South to 1515.
ElectricCircuit Breakers
Electric Expense
Fuel Expense
Gross Income113268
Insurance Expense
MLS AreaCHI - North Lawndale
MaintenanceExpense
ModificationTimestamp2025-07-29T05:06:06.760Z
Net Operating Income84951
Number Of Units Total6
Operating Expense28317
PossessionClosing
Property TypeCommercial Sale
Property TypeMulti Family 5+
Standard StatusActive
StatusActive
Stories Count3
Tax Annual Amount3598.9
Tax Year2023
Tenant PaysAir Conditioning, Electricity, Heat
TownshipWest Chicago
Trash Expense0
UtilitiesSewer Connected, Water Available, Other
Water Sewer Expense0
Year Built1915
ZoningMULTI
Exterior for 1515 S Drake Avenue
Lot Dimensions25X125
Additional Details
Price History
