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548 W Fullerton Parkway

Chicago, IL 60614
  • $1,751,000
  • STATUS: Closed
  • ON SITE: 172 Days
  • MLS #: 11921700
Sold - 04/05/2024
$1,751,000
SOLD - 04/05/2024
  • 6
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1920
County:

School Ratings & Info

School District:
299

Description

548 Fullerton is a legal 3 flat with RM-5 zoning on 175' deep lot, generating $148,200 in rental income! Long term tenants have kept rents lower than market rate. Units 1 + 2 are full floor units. The third floor is currently configured as 2 separate units however the rental income is combined as one unit. Lastly the garden studio apartment currently generates $15,900 and is included in the total income of unit 1. The garden apartment can easily be expanded to become a 1 bedroom which adds $7,200/yearly. Further increased income is possible in unit 3F. Adding a wall to the 20' wide interior of the living room creates a bedroom to generate an additional $3,600/yearly. The seller has updated all electric and plumbing. The boiler dates to c2000. Each unit has been freshly outfitted with new bathrooms, kitchens, and refinished original hardwood floors. In October of 2023 the roof was fully replaced. Three of the units feature fireplaces (3F is functional, the others are decorative). Each unit has laundry. 548 Fullerton is a fully leased building, last renewal received 12 applications on the first day of showings. As demonstrated, rents easily have room to increase and add extra value. Garden apartment not included in unit count. Expenses are based off year end '23

Sold by @properties Christie's International Real Estate.

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© 2024 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2024-04-24T19:01:36.61 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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548 W Fullerton Parkway Chicago, IL 60614

  • Price: $1,800,000
  • Status: Closed
  • On Site: 172 Days
  • Updated: 98 min ago
  • MLS #: 11921700
6
Beds
0
Baths
0
½ Baths
N/A
Acres
1920
Built
Neighborhood:
Chi - Lincoln Park
County:
Cook
Area:
Chi - Lincoln Park
School District:
299
Property Description
548 Fullerton is a legal 3 flat with RM-5 zoning on 175' deep lot, generating $148,200 in rental income! Long term tenants have kept rents lower than market rate. Units 1 + 2 are full floor units. The third floor is currently configured as 2 separate units however the rental income is combined as one unit. Lastly the garden studio apartment currently generates $15,900 and is included in the total income of unit 1. The garden apartment can easily be expanded to become a 1 bedroom which adds $7,200/yearly. Further increased income is possible in unit 3F. Adding a wall to the 20' wide interior of the living room creates a bedroom to generate an additional $3,600/yearly. The seller has updated all electric and plumbing. The boiler dates to c2000. Each unit has been freshly outfitted with new bathrooms, kitchens, and refinished original hardwood floors. In October of 2023 the roof was fully replaced. Three of the units feature fireplaces (3F is functional, the others are decorative). Each unit has laundry. 548 Fullerton is a fully leased building, last renewal received 12 applications on the first day of showings. As demonstrated, rents easily have room to increase and add extra value. Garden apartment not included in unit count. Expenses are based off year end '23
Exterior Features

Exterior Building Type Brick Exterior Features DeckBrick Paver Patio Foundation Details Concrete Perimeter Garage Details Garage Door Opener(s)Transmitter(s) Garage Onsite Yes Garage Ownersite Owned Garage Type Detached Is Parking Included In Price Yes Lot Size Oversized Chicago Lot Multi Family Type 1 Story Unit/s Parking Details Garage Parking Total 2 Roof Flat Waterfront YN No

Interior Features

Basement Partially Finished Basement Details PartialEnglish Bathroom No Tub Bedrooms Below Grade 0 Bedrooms Total 6 Full Baths In Building 5 Half Baths In Building 2 Heating SteamRadiantRadiator(s) Rooms Total 21

Property Features

Additional Parcels YN No Age 100+ Years Built Before1978 YN Yes Corporate Limits Chicago Financing Conventional General Information None Gross Income 92689 Insurance Expense 5945 Mls Actual Status Closed New Construction YN No Other Equipment Ceiling Fan(s)Water Heater-Gas Ownership Fee Simple Rebuilt YN No Rehab Year 2018 Sewer Public Sewer Short Sale Not Applicable Special Listing Conditions None Tax Annual Amount 35685.04 Tax Year 2022 Total Numberof Unitsin Building 3 Total Rental Income 148200 Township Lake View Type Two to Four Units Water Source Public Zoning MULTI

Listing information © 2024 Midwest Real Estate Data LLC.
Listing provided courtesy of Berkshire Hathaway HomeServices Chicago: 312-944-8900.


© 2024 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2024-04-24T19:01:36.61 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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