1531 West Nelson Street, Chicago, IL


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About 1531 West Nelson Street

Meticulously maintained legal three unit building on a quiet tree-lined street in the heart of trendy South Lakeview. The turnkey investment is fully occupied with leases in place until Spring/Summer of 2024 that generate monthly income of $6450. All three units pay their own utilities and are separately metered for gas and electric. The only building expenses for the owner are water, trash, and insurance. Unit 1 is an English garden 2bd/1bath leased thru 6/30/14 for $1525. Unit 2 is a spacious 2bd/1bath leased thru 5/31/24 for $1900. Unit 3 is a large duplex 3/4bd/2bath leased thru 6/30/24 for $2850. The garage yields additional income of $175/month. This can be an ideal armchair investment with solid income as-is, or can be a value add play with strong upside for growth in rents. An excellent bldg to add to your investment portfolio on a fantastic street in one of the most desired neighborhoods on the Northside and located in the highly sought after Burley School District.

Features of 1531 West Nelson Street

MLS® # 11855445
Price $915,000
Units 3
Bedrooms 8
Bathrooms 4.00
Year Built 1906
Type Residential Income
Sub-Type Two to Four Units
Style Victorian
Status Active
Multi-Family No

Community Information

Address 1531 West Nelson Street
Area CHI - Lake View
City Chicago
County Cook
State IL
Zip Code 60657


Heating Natural Gas, Forced Air, Sep Heating Systems - 2+, Indv Controls, Zoned
Fireplace No
Has Basement Yes
Basement Walkout


Exterior Brick,Frame
Lot Description Fenced Yard
Roof Asphalt
Foundation Brick/Mortar

School Information

District 299

Additional Information

Days on Market 105
Zoning COMMR
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details


Listing Map

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