33
See all 33 photos
$1,490,000
Est. payment /mo
6 Beds
6 Baths
New
2444 N Sheffield AVE Chicago, IL 60614
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Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12638319
Bedrooms 6
Year Built 1900
Annual Tax Amount $14,953
Tax Year 2024
Lot Dimensions 24 X 120
Property Sub-Type Two to Four Units
Property Description
Turnkey, fully renovated (2023) two-unit investment property in the heart of Lincoln Park, steps from DePaul University, Jonquil Park, Whole Foods, and the Fullerton CTA Red/Brown Line station. This stabilized asset features two updated 3 bed / 3 bath units with modern finishes, strong tenant appeal, and low near-term capital expenditure requirements. Current rents are $3,700 per unit ($7,400/month total), with pro forma market rents projected at approximately $4,200 per unit ($8,400/month total), offering immediate upside through lease renewals or repositioning. Ideal for investors seeking a high-demand rental location with consistent occupancy and strong rental growth fundamentals. Each unit offers spacious layouts, updated kitchens and baths, in-unit washer/dryer, private rear outdoor space, and exterior parking. The full basement provides additional value-add potential for duplex-down expansion, storage income, or further unit enhancement. Recent capital improvements include a complete gut rehab in 2023 and full roof replacement in 2020, significantly reducing deferred maintenance risk. Situated in one of Chicago's most desirable rental submarkets with proximity to the lakefront, Fullerton Beach, Lincoln Park Zoo, and vibrant retail/dining corridors. Zoned RT-4 on a 24 x 120 lot, this is a rare opportunity to acquire a fully renovated, income-producing asset with both in-place cash flow and clear upside potential.
Location
State IL
County Cook
Area Chi - Lincoln Park
Rooms
Basement Unfinished, Full
Interior
Heating Natural Gas, Forced Air
Fireplace N
Exterior
Exterior Feature Balcony
Building
Dwelling Type Two to Four Units
Building Description Brick, No
Sewer Public Sewer
Water Lake Michigan, Public
Structure Type Brick
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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Listed by Jason Qiu of Good Hope Properties LLC
NEARBY SCHOOL & BUSINESS
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