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$600,000
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Property Description
Discover an exceptional investment opportunity with this large 6-unit multifamily property, perfectly positioned for strong cash flow and growth. The front building features four spacious units, including two full-floor residences-a 4 bed/1 bath and a 3 bed/1 bath-alongside a 2 bed/1 bath and a 1 bed/1 bath unit on the second floor. A rear coach house adds two expansive 3 bed/1 bath full-floor units, complemented by a large attic for additional storage. Renovated in 2017, the property boasts updated kitchens, modern bathrooms, gleaming hardwood floors, central heat, and on-site laundry, ensuring tenant satisfaction and low maintenance. This property is a proven income generator, currently delivering excellent returns with significant upside potential. Rents are well below market rates, offering immediate opportunities to boost revenue with minimal effort. With a few strategic updates, this gem can easily achieve a 10+ cap rate, making it an ideal addition to any investor's portfolio. Don't miss your chance to own a turnkey multifamily asset with strong fundamentals and room for growth in a high-demand rental market.
Full Property Details
Full Property Details for 2702 W 24th St
General
- Sold For: $600,000
- Taxes: $10,260 (2023)
- Status: Closed
- Type: Commercial
- Source: MRED
- MLS ID: 12408436
- Added to Site: 193 day(s) ago
Location
- Area: CHI - South Lawndale
- County: Cook
- Driving Directions: One Block East of California & 24th St - North Side of the Street.
Heating & Cooling
- Cooling Type: None
- Heating Type: Central Heat/Individual Controls, Forced Air, Gas, Separate per Unit
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement Desc.: Unfinished
- Foundation: Concrete Perimeter, Stone
- Stories/Levels: 3
- Square Feet: 6,200
- Year Built: 1908
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 6
- Units w/Range/Oven: 6
- # Dryers: 1
Lot Features
- Lot Size (Acres): 0.07
- Lot Size (Sq. Ft.): 3,101
- Lot Dimensions: 25 x 125
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $24,407
- Assessment Year: 1908
- Tax Amount: $10,260.6
- Tax Year: 2023
- Tenant Pays: Electricity, Heat
Disclosures and Reports
- Property ID: 16252100420000
Listed by Sperry Van Ness
Sold by @properties Christie's International Real Estate
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Schools
Schools serving 2702 W 24th St
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Finkl Elementary School 2332 South Western Avenue, Chicago, IL 60608 | PK-8 | 0.3 mi |
Farragut Career Academy High School 2345 South Christiana Avenue, Chicago, IL 60623 | 9-11 | 0.8 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 2702 W 24th St
Date
Details
Price
Change
Source
12/26/2025
Sold
$600,000
0.17%
MLS
10/20/2025
Price Increased
$599,000
4.17%
MLS
7/07/2025
Listed
$575,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2702 W 24th Street, Chicago, IL 60608 (MLS# 12408436) is a Commercial property that was sold at $600,000 on December 26, 2025. Want to learn more about 2702 W 24th Street? Do you have questions about finding other Commercial real estate for sale in South Lawndale? You can browse all South Lawndale real estate or contact a Coldwell Banker agent to request more information.

