5527 W Potomac Avenue
Chicago, IL 60651
Listing provided courtesy of: MPower Residential Brokerage LLC
Property Description
Spring into your next investment opportunity with this professionally managed, LEGAL 2-FLAT with a BONUS garden-level in-law apartment, located in Chicago's thriving Austin neighborhood! This solid 1915 brick building is full of character and offers an excellent opportunity to grow your portfolio or offset your mortgage while building equity. The property features a well-maintained 2-bedroom, 1-bath main-level unit, and a 3-bedroom, 1-bath upper unit complete with an enclosed porch-ideal as a den or third bedroom. Both units offer a spacious floor-plan with hardwood floors *carpet only in unit 1 living room * and separate living room, dining room and an eat-in kitchens. The finished lower-level garden unit is currently rented for $1,050/month to a reliable tenant who has paid on time consistently since the property was purchased. Current rental income totals $4,583/month, including: Garden Unit: $1,050 | Units 1 & 2: Combined $3,403 | Parking: $130 | That's a gross annual income of $54,996, offering solid cash flow from day one. Whether you're looking to house hack or simply add a reliable asset to your rental portfolio, this multi-unit delivers flexibility and income potential in equal measure. A fenced backyard and 2-car garage offer convenience and added appeal for both owners and tenants. With a Walk Score of 78, and easy access to major bus routes and expressways, this property is well-positioned for commuters and city lovers alike. Photos were taken after recent unit refurbishments in early 2024, showcasing updated interiors that blend comfort with historic charm. The low property taxes make this investment even more attractive for cash flow-minded buyers. FHA buyers welcome! Whether you're an investor looking for steady returns or an owner-occupant ready to make a smart move, this is the kind of opportunity that doesn't come around often-schedule your showing today! Please note: property taxes do not reflect a homeowners exemption, occupy and claims yours for additional savings.
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Features:
No Garage, On Site, Garage Owned, Detached, Garage Porch Flat Public Sewer, Other Screens
| Price: | $485,000 |
| Beds: | 5 |
| Baths: | 3 |
| Property Type: | Residential Income |
| Year Built: | 1918 |
Listing provided courtesy of: MPower Residential Brokerage LLC. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by other brokerage firms are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is 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 not guaranteed. © 2025 by Midwest Real Estate Data LLC . All rights reserved. Listing last updated on 05/19/2025 21:07:23.
