IL
Cook
Chicago
60647
3501 W Palmer Street
3501 W Palmer Street, Chicago, IL 60647
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Listing Type
Multi Family
Listing Status
active
49
$779,000

Home Details for 3501 W Palmer Street

Price
$779,000
Type
Residential Income
Bedrooms
9
Bathrooms
4.0
Square feet
NaN
Year built
1897
County
Cook
Total rooms
18
Garage
Basement
Crawl Space, Partial
Days on site
5
MLS Listing#
12502469
Property Description

Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place. The building sits immediately west of Palmer Square and Kedzie Boulevard with recent, nearby new build single-family home sales under contract near $1.5 million. The existing rent roll comprises $84,120 of revenue or a 9.2x gross revenue multiple on in-place income. Additional revenue can be creted by (i) marking the existing rent roll to market, (ii) adding a parking slab with three exterior stalls at the rear of the building, and (iii) creating a small outdoor garden/amenity area in the existing gravel yard at rear. This value-add is projected to result in $96,200 of revenue or a stabilized 7.8x GRM, roughly a 10.0% return-on-cost. All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.

Property Features
  • Parking
    • Unassigned
    • Off Street
    • On Site
  • Basement
    • Crawl Space
    • Partial
  • Heating Information
    • Natural Gas
  • Water Features
    • Public
Listing Courtesy: Essex 312, LLC - 773-305-4858
Midwest Real Estate Data logo Based on information submitted to the MLS GRID as of 2025-10-29 03:15:26. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.
Last Updated: 2025-10-29 03:15:26
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EXIT REALTY REDEFINED
1275 E. Butterfield Rd Suite 200, Wheaton, IL 60189
Roger Jenisch
License #: 471-013357
Broker of Record
Office
630 480 4555
Agent
773 682 8771
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