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Joanna Lewkowicz

joanna@boutiquehomerealty.com +1(708) 963-0011

Listed by Shannon Kutchekof Compass

Est. payment - /mo

9 Beds

0.25 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

Subdivision Country Club

MLS Listing ID 12685959

Bedrooms 9

Year Built 1977

Annual Tax Amount $16,923

Tax Year 2024

Lot Size 10,890 Sqft

Lot Dimensions 85x170x37x71x46x15x67

Property Sub-Type Two to Four Units

Property Description

Exceptional investment opportunity with HUGE upward potential in highly sought-after La Grange! This well-maintained all-brick 4-unit building, plus an additional finished basement unit, offers outstanding cash flow and long-term upside in one of Chicago's most desirable suburban rental markets. Ideally located along the Pace bus line and just five blocks from vibrant downtown La Grange, residents enjoy easy access to the Metra station, popular restaurants, boutique shopping, and everyday conveniences-making this a prime location for commuters and renters alike. The property generates approximately $10,000 per month in rental income, with three units occupied by long-term tenants, providing immediate stability and consistent returns. Recent capital improvements include a new roof and most windows have been replaced, helping minimize future maintenance costs. The additional two-bedroom owner's unit has been remodeled with newer flooring and cabinetry and the first-floor three-bedroom, 1.1 bath unit was completely renovated in the last few years with upscale design and modern finishes and is currently rented as a fully-furnished unit. Additional income potential comes from nine total parking spaces, including two rented garage spaces in the brick garage and seven exterior parking spots. Tenants also benefit from on-site coin laundry and extra storage. An HOA was formed by the building owners in this attractive courtyard of properties in order to maintain the driveways and parking area, lawn care and snow removal. The dues are reasonable and allow for a consistent, cared-for appearance throughout without all the extra work. Located within a highly regarded school district and surrounded by strong rental demand, this is a rare opportunity to acquire a turnkey, income-producing asset in an exceptional location. Whether you're expanding your portfolio or seeking a stable investment with strong cash flow, this La Grange multifamily property checks all the boxes.

Location

State IL

County Cook

Community Park, Tennis Court(S), Curbs, Sidewalks, Street Lights, Street Paved

Rooms

Basement Partially Finished, Full

Interior

Heating Natural Gas

Fireplace N

Exterior

Garage Spaces 2.0

View Y/N true

Roof Type Asphalt

Building

Lot Description Irregular Lot

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Brick

New Construction false

Schools

Elementary Schools Spring Ave Elementary School

Middle Schools Wm F Gurrie Middle School

High Schools Lyons Twp High School

School District 105, 105, 204

Others

Ownership Fee Simple

Special Listing Condition None

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Joanna Lewkowicz

Designated Managing Broker | Owner | 471.018027 471018027

+1(708) 963-0011 | joanna@boutiquehomerealty.com

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516 S La Grange RD La Grange, IL 60525

Joanna Lewkowicz

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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516 S La Grange RD

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