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2520 North Burling Street, Chicago, IL 60614
$1,560,000
2520 North Burling Street, Chicago, IL 60614View this property at 2520 North Burling Street, Chicago, IL 60614
2520 North Burling StreetChicagoIL60614
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Property Description
This pristine 5-unit Greystone located on one of East Lincoln Park's best blocks is an investor's dream! The building is zoned RT-4, and is fully occupied with under market rents. Each unit is in great condition with separate utilities and updated kitchens and baths. The 1st level has a 1,400 sqft 2-bedroom unit (see photos) that could be expanded into the basement to create a duplex. On both the 2nd and 3rd levels, there is a 900 sqft 2-bedroom unit and a 500 sqft 1-bedroom unit. The cap rate is projected at roughly 5%, but with below market rents and the possibility of enlarging the 1st level unit, there is potential for increased income. The 2-car garage has a deck above; garage spaces rent for $100-$150/month. Additional income is generated from coin laundry machines in the basement. Tenants pays for gas and electric, landlord pays the water bill. An alternative use is it so renovate this magnificent building into 6,000 sqft single family home in Alcott School District!
Full Property Details
Full Property Details for 2520 N Burling St
General
- Sold For: $1,560,000
- Taxes: $18,715 (2015)
- Status: Closed
- Type: Commercial
- MLS ID: 09383984
- Added to Site: 2, 739 day(s) ago
Interior
- Number of Fireplaces: 3
Parking
- Garage Spaces: 1-5
- Garage Description: 1-5 Spaces
Location
- County: Cook
- Driving Directions: Wrightwood to Burling (735 west). One-way south to 2520 on west side of street.
Heating & Cooling
- Cooling Type: Central Air Conditioning, Zoned
- Heating Type: Central Heat/Individual Controls, Forced Air, Gas, Separate per Unit
Structural Information
- Construction: Brick, Stone
- Square Feet: 6,100
- Current Bldg. Use: Residential (Multifamily)
- Year Built: 1900
Lot Features
- Lot Dimensions: 24.5 x 125.5
- Zoning: MULTI
Financial Considerations
- Tax Amount: $18,715
- Tax Year: 2015
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Schools
Schools serving 2520 N Burling St
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
2625 N Orchard St, Chicago, IL 60614 | PK-8 | 0.1 mi | |
2001 N Orchard St, Chicago, IL 60614 | 9-12 | 0.6 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2520 N Burling St
Date
Details
Price
Change
Source
12/22/2016
Sold
$1,560,000
0.65%
MLS
11/07/2016
Listed
$1,550,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2520 North Burling Street, Chicago, IL 60614 (MLS# 09383984) is a Commercial property that was sold at $1,560,000 on December 22, 2016. Want to learn more about 2520 North Burling Street? Do you have questions about finding other Commercial real estate for sale in Lincoln Park? You can browse all Lincoln Park real estate or contact a Coldwell Banker agent to request more information.