📍 1222 S Kolin Ave, Chicago, IL 60623
🔥 Large brick 3-flat on a quiet, tree-lined street just off I-290. A prime value-add opportunity in a growing area with strong rental demand.
🏢 Property Highlights:
• Three spacious 3 bed / 1 bath units with high ceilings
• Separate utilities for each unit – ideal for maximizing rental income
• Large unfinished basement for additional garden unit, making it an 11 bed / 4 bath! 😃
• Two-car garage + large yard
• Easy access to transportation, highways, and local amenities
💰 Section 8 Gold Mine at $2,200 per unit:
This building checks every box for stable, long-term Section 8 tenants — large unit sizes, separate utilities, and a prime location. Three-bedroom units in this area can command strong, guaranteed monthly rents, making this an ideal cash-flow play for buy-and-hold investors.
📈 Investment Breakdown:
- 🔑 Sale Price: $175,000
- 🛠️ Estimated Rehab Costs: $200k
- 💎 After Repair Value (ARV): $660,000
- 🏠 Taxes:$2,540
- 💰 Rents: $2,200/3bd
🏠 Comparable Sales (Comps):
- 💰 $660,000 – 1315 S Kolin Ave, Chicago, IL 60623
🚀 Just minutes from downtown, close to public transit and major developments — a perfect long-term equity and income opportunity.