5428 S Drexel Avenue Chicago, IL 60615

$50K price reduction from $945K to $895K! Completely renovated LEGAL 3 flat 1 block from U of C campus and 2 blocks from the future $815 million University of Chicago Medicine cancer center in Hyde Park. All units have been remodeled which include 3bd/2bath top floor, 2bd/2bath middle floor, and 2Bd.../1bath garden unit. $85K of rental income in-place ($7108/mo); with parking (vacant) would be ~$89K. So nearly 10x GRM deal in attractive Hyde Park! Renovations include copper and pvc plumbing, electric (new 200 amp electric service to building), kitchens, bathrooms, and appliances. All NEW pvc sewer line under the building, drain tile system throughout garden, water heaters (3), boilers (2nd and 1st floor), HVAC (garden), side secure metal gate, and rear balcony steel stairs. Garden unit (nearly finished and expected to be done in next couple weeks) has been completely remodeled to the studs with full plans and permits. Seller to close out all paperwork on permits prior to closing. Amazing opportunity for live in owner or investor with strong current rents and long term appreciation in this location. The University of Chicago ranked #12 Nationally in the United States last year and is home to roughly 18,500 students (undergrad and graduate). Continue reading