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$1,850,000
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Property Description
Discover an exceptional investment opportunity with this 17-unit brick building that delivers immediate income potential. This well-maintained property features individual furnaces and separate water heaters in each unit, ensuring tenant comfort while minimizing owner expenses. The building showcases thoughtful updates throughout, including modernized kitchens and bathrooms, updated electrical service, and quality copper plumbing that stands the test of time. Recent improvements include professional roof maintenance with silver coating and newer vinyl windows that enhance both energy efficiency and curb appeal. Each spacious two-bedroom, one-bathroom unit offers generous living areas and large bedrooms that tenants love. The solid brick construction provides durability and timeless appeal while maintaining excellent occupancy rates. This turnkey investment requires no immediate property improvements, making it perfect for investors seeking steady cash flow from day one. The building's proven track record of high occupancy rates and premium rents speaks to its desirable location and quality management potential.
Full Property Details
Full Property Details for 1300 S Karlov Ave
General
- Price: $1,850,000
- Taxes: $24,627 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12418660
- Updated: 8/18/2025
- Added to Site: 188 day(s) ago
Interior
- Basement: Exterior E
Location
- Area: CHI - North Lawndale
- County: Cook
- Driving Directions: PULASKI N OR S, WEST TO 1300, TO ADDRESS
Community
- Assoc. Fees Include: None
Heating & Cooling
- Cooling Type: None
- Heating Type: Forced Air, Gas
Utilities
- Trash: 2640
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement: Yes
- Basement Desc.: Exterior Entry, Bath/Stubbed
- Foundation: Block, Concrete Perimeter
- Stories/Levels: 3
- Year Built: 1927
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 50 x 125
- Frontage: City Street
- Potential Use: Multi-Family
- Zoning: MULTI
Financial Considerations
- Insurance Fee: $24,627
- Operating Expenses: $59,147
- Assessment Year: 1927
- Tax Amount: $24,627
- Tax Year: 2023
- Tenant Pays: Electricity, Heat
- Pays Electric: 2280
- Pays Trash: 2640
Disclosures and Reports
- Property ID: 16222130020000
Listed by Berkshire Hathaway HomeServices American Heritage
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Schools
Schools serving 1300 S Karlov Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Hughes C Elementary School 4247 West 15th Street, Chicago, IL 60623 | PK-8 | 0.3 mi |
Manley Career Academy High School 2935 West Polk Street, Chicago, IL 60612 | 12-11 | 1.5 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1300 S Karlov Ave
Date
Details
Price
Change
Source
8/12/2025
Price Reduced
$1,850,000
-2.63%
MLS
7/13/2025
Listed
$1,900,000
72.73%
MLS
7/01/2021
Sold
$1,100,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1300 S Karlov Ave
Year
Property Taxes
Change
Tax Assessment
Change
2023
$24,628
3%
$116,325
—
2022
$24,008
8%
$116,325
6%
2021
$22,193
27%
$110,000
40%
2020
$17,537
11%
$78,460
—
2019
$15,816
2%
$78,460
—
2018
$15,549
-4%
$78,460
5%
2017
$16,145
8%
$74,740
—
2016
$14,970
9%
$74,740
—
2015
$13,696
6%
$74,740
8%
2014
$12,894
2%
$69,493
—
2013
$12,639
1%
$69,493
—
2012
$12,470
—
$69,493
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1300 S Karlov Ave
1300 S Karlov Avenue, Chicago, IL 60623 (MLS# 12418660) is a Commercial property. 1300 S Karlov Avenue is currently listed for $1,850,000 and was received on July 13, 2025. Want to learn more about 1300 S Karlov Avenue? Do you have questions about finding other Commercial real estate for sale in North Lawndale? You can browse all North Lawndale real estate or contact a Coldwell Banker agent to request more information.

