Price Reduction
Address
5433 W Melrose Street, Chicago, IL
Price
$ 699,000
Property Attributes
- MLS#12658755
- TypeMulti-Family
- Listing Status Re-activated
- CountyCOOK
- CityChicago
- AreaCHI - Portage Park
- NeighborhoodPortage Park
- Zip60641
- Style
- Year Built1923
- Taxes$ 7811
- Price$ 699,000
- Bedrooms8
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage2726
- Lot Size0.09 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
BELMONT CRAGIN / PORTAGE PARK! Legal 2-flat with a nonconforming garden apartment and a 2-car detached garage. Excellent investment opportunity in the desirable Belmont Cragin/Portage Park neighborhood. This attractive 2 1/2-story brick building also offers the potential for one additional outdoor parking space. The property features approximately 2,800 square feet of above-grade living area, with each floor functioning as a separate unit, making it an ideal income-producing property for investors or owner-occupants. The building includes updated units, hardwood and ceramic tile flooring throughout, a separate building laundry room located in the basement, and a new roof installed in May 2026. The second-floor apartment offers five rooms, two bedrooms, a spacious living room, a separate dining room, a large kitchen with a double pantry and eat-in area, and a ceramic tile bathroom. The garden apartment features a finished living room, two bedrooms, a kitchen with oak cabinetry, a full bathroom, new ceramic tile flooring, and a laundry area. The first floor and garden apartment underwent a complete renovation in 2003. The basement and both apartments have been freshly painted, making the property move-in and rent-ready. The building is equipped with two separate heating systems and two central air conditioning systems. The first-floor apartment and the garden apartment share the laundry room and one central air conditioning system, while the second-floor apartment has its own separate heating and air conditioning system. 2026 New Ejector Pit installed and property is currently serviced by Orkin for routine pest control/preventive maintenance. MLS PHOTO DISCLOSURE: Some listing photos have been virtually enhanced and/or virtually staged for marketing purposes. The images may not depict the current appearance of the property or the tenant furnishings that are presently occupying the units. Buyers and buyer's agents are advised to rely on their own inspections and in-person showings to verify the property's current condition and layout.
| Price History | |
|---|---|
| 6/14/2026 | Listed $719,000 |
| 9/23/2026 | 3$699,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Natural Gas,Forced Air,Radiant |
| Possession | Closing |
| Roof | Asphalt |
| Zoning | MULTI |
| Garage Spaces | 2 |
| Construction Materials | Brick |
| Year Built | 1923 |
| Township | Jefferson |
| Tax Year | 2023 |
| Ownership | Fee Simple |
| Gross Income | 55290 |
| Community Features | Curbs,Gated,Sidewalks,Street Lights,Street Paved |
| County | Cook |
| Net Operating Income | 36765 |
| Insurance Expense | 3000 |
| New Construction | No |
| Property Type | Residential Income |
| MaintenanceExpense | 1658 |
| Total Rooms | 12 |
| Status | Re-activated |
| Directions | BELMONT AND CENTRAL AVE. MELROSE IS ONE WAY EAST. |
| City | Chicago |
| High School District | 299 |
| MLS Area | CHI - Portage Park |
| Tax Annual Amount | 7811 |
| Electric Expense | 1113 |
| Trash Expense | 1200 |
| Water Sewer Expense | 1200 |
| Additional Parcels Y/N | No |
| Standard Status | Active |
| Middle/Junior School District | 299 |
| Elementary School District | 299 |
| Property Type | Two to Four Units |
Interior Features
| Basement | Finished,Exterior Entry,Full |
|---|---|
| Total Bedrooms | 8 |
| Room Type | Kitchen,Enclosed Porch,Sun Room |
| Total Baths | 4 |
| Bedrooms Possible | 8 |
| Full Baths Building | 4 |
| Total Number of Units | 2 |
Exterior Features
| Parking Features | Garage Door Opener,Yes,Garage Owned,Detached,Garage |
|---|---|
| Water Source | Lake Michigan |
| Total Parking | 2 |
| Foundation Details | Concrete Perimeter |
| Lot Dimensions | 33X126 |
| Lot Size Acres | 0.09 |
| Waterfront Y/N | No |
| Other Equipment | Ceiling Fan(s) |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 60641
Price
Taxes
Year Built
Visits
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