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$795,000
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Property Description
Discover an exceptional investment opportunity with this fully occupied 7-unit brick building that delivers immediate income potential. This well-maintained property features individual in unit furnaces and BRAND NEW separate water heaters, ensuring tenant comfort while minimizing owner expenses. The building showcases thoughtful updates throughout, including modernized kitchens and bathrooms, as well as BRAND NEW copper plumbing that stands the test of time. Recent improvements include professional roof maintenance with silver coating and newer vinyl windows (2023) that enhance both energy efficiency and curb appeal. The property features 3 spacious three-bedroom, one-bathroom units and 4 two-bedroom, one bathroom units with 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 1501 S Kolin Ave
General
- Sold For: $795,000
- Taxes: $11,881 (2023)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12418665
- Added to Site: 186 day(s) ago
Location
- Area: CHI - North Lawndale
- County: Cook
- Driving Directions: Southeast corner Kolin and 15th street
Heating & Cooling
- Heating Type: Forced Air, Gas
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 3
- Current Bldg. Use: Multi-Family
- Year Built: 1924
- Built Before 1978: Yes
Lot Features
- Lot Size (Acres): 0.08
- Lot Size (Sq. Ft.): 3,765
- Lot Dimensions: 30 x 125.5
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $37,241
- Assessment Year: 1924
- Tax Amount: $11,881
- Tax Year: 2023
- Tenant Pays: Electricity, Heat
Disclosures and Reports
- Property ID: 16222240010000
Listed by Berkshire Hathaway HomeServices American Heritage
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Schools
Schools serving 1501 S Kolin Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Mason Elementary School 4217 West 18th Street, Chicago, IL 60623 | PK-8 | 0.3 mi |
Infinity Math Science & Tech High School 3120 South Kostner Avenue, Chicago, IL 60623 | 9-12 | 1.7 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 1501 S Kolin Ave
Date
Details
Price
Change
Source
1/02/2026
Sold
$795,000
-0.5%
MLS
7/13/2025
Listed
$799,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1501 S Kolin Avenue, Chicago, IL 60623 (MLS# 12418665) is a Commercial property that was sold at $795,000 on January 02, 2026. Want to learn more about 1501 S Kolin 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.


