2631 N 74th Avenue,Elmwood Park, IL 60707
Elmwood Park, IL 60707
Description
Mid-Century Modern four-unit property in a highly desirable Elmwood Park location! Offering more than 5,000 square feet of living space, this fully leased building with 100K in RECENT IMPROVEMENTS presents an outstanding sole investment or owner-live-in opportunity! The current rent roll includes Unit 1 at $1,995 per month, Unit 2F at $1,350, Unit 2R at $1,250, Unit G at $1,250, and the garage at $175. GMR totals $6,020 per month, or $72,240 annually. The property includes six bedrooms and five full bathrooms across four apartments. Each residence has its own thermostat and individually controlled AC unit. Tenants share a basement common area and laundry room with a free, owner-owned washer and dryer. The detached garage accommodates approximately 2.5 cars and is leased separately. The building combines vintage character with thoughtful updates, including striking tiger mahogany cabinetry and stainless-steel appliances. Approximately $100,000 in improvements have been completed since October 2024, with major investments in the property's systems. Updates include a brand-new Weil-McLain gas boiler, a new common water heater with annual service, a full electrical upgrade, sewer-main hydro jetting, camera inspection and repairs, new copper piping in the mechanical room, a new hot-water supply line to the garden unit, and a sprinkler system in the basement common area. Additional improvements include repainting, carpet cleaning, rent-ready repairs, new locks, deep cleaning, and new laminate flooring in Unit 1. Earlier improvements include tuckpointing, glass-block windows, and plumbing work. The building is also a prime value add candidate with large basement common room that can easily become a unit addition. As well as the opportunity for cosmetic upgrades to increase an impressive rent toll. Conveniently located within walking distance of the train, parks, and schools, this well-maintained income-producing property offers a compelling combination of location, vintage character, modernized building systems, and future rental upside.
Details
| MLS # | 12767898 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 19 |
| Listing Provided By | Compass | Mehdi Mova |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 5 |
| Garage | 2 |
| Basement | Y |
| Zoning | MULTI |
Interior
| Rooms Total | 15 |
|---|---|
| Heating | Natural Gas, Steam |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Parking Features | Yes, Garage Owned, Detached, Garage |
|---|---|
| Garage Spaces | 2.5 |
Utilities
| Sewer | Public Sewer, Storm Sewer |
|---|
Location
| Community Features | Park, Curbs, Sidewalks, Street Lights, Street Paved |
|---|
Taxes
| Tax Year | 2022 |
|---|---|
| Tax Annual Amount | 13244 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Elmwood Park |
| Zip Code | 60707 |
| Area | Elmwood Park |
| School District | Elmwood Park High School |
| Elementary School | John Mills Elementary School |
| High School | Elmwood Park High School |
| Listing VS Median (in 60707) | |
Price: $799,000 low | high Med: $329,900 On site: 19 low | high Med: 43 | |
Market Activity 60707
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Elmwood Park |
| Zip Code | 60707 |
| Area | Elmwood Park |
| School District | Elmwood Park High School |
| Elementary School | John Mills Elementary School |
| High School | Elmwood Park High School |
| Listing VS Median (in 60707) | |
Price: $799,000 low | high Med: $329,900 On site: 19 low | high Med: 43 | |
