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$650,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 12 Total Beds
  • Updated 1 day ago
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WOW Solid red brick 4-unit building offering incredible opportunity for both investors or owner occupant. Each unit features 3bed/1bath with hardwood floors throughout, providing spacious desirable layouts. All units are currently vacant, making this a perfect value-add opportunity to set your own rents and customize for personal use. Ideal for a live-in owner looking to generate income while occupying one unit, or for an investor seeking strong rental potential. Property being sold "as is", offering the chance to update and maximize returns. Conveniently located near train transportation, restaurants, and everyday amenities, making it attractive for future tenants. Don't miss the versatile income-producing opportunity. Newer back staircase and Exterior parking spaces for 6 cars at rear of building. Your attention will make this one your best investment yet!

Full Property Details for 318 N Lorel Ave

General

  • Price: $650,000
  • Taxes: $8,673 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 12732359
  • Updated: 8/15/2026
  • Added to Site: 4 day(s) ago

Rental Information

  • Complex Features: Gated, Street Lights

Interior

  • Basement: Unfinished

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Upper - Full Baths: 4

Bedrooms

  • Total Bedrooms: 12

Parking

  • Total Spaces: 5
  • Parking Features: Assigned, Unassigned, Yes, Owned

Location

  • Area: CHI - Austin
  • County: Cook
  • Township: West Chicago
  • Driving Directions: Three blocks West of Laramie - 1/2 block South of Lake street.

School Information

  • School District: 299
  • Elem School District: 299
  • Midd School District: 299
  • High School District: 299

Heating & Cooling

  • Heating Type: Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Lake Michigan, Public

Structural Information

  • Construction: Brick
  • Exterior Const.: Brick
  • Basement: Yes
  • Basement Desc.: Unfinished, Full
  • Foundation: Brick/Mortar, Concrete Perimeter
  • Roof: Flat
  • Year Built: 1913
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 4

Lot Features

  • Lot Size Range: Less than .25 Acre
  • Lot Dimensions: 50 x 125
  • Fence: Yes
  • Zoning: MULTI
  • Fencing (Description): Fenced

Financial Considerations

  • Parking Included: Yes
  • Assessment Year: 1913
  • Tax Amount: $8,673
  • Tax Year: 2025
  • Pays Sewer: Public Sewer

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 16093030220000

Listed by Xr Realty

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— 318 N Lorel Ave —

  • Xr Realty

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Be ready to buy your new home!

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NMLS#: 1598647

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with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 318 N Lorel Ave

School District:Chicago Public School District 299
NameGradesDistance
Ellington Elementary School
243 North Parkside Avenue, Chicago, IL 60644
PK-80.4 mi
Douglass Academy High School
543 North Waller Avenue, Chicago, IL 60644
9-120.5 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 318 N Lorel Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/13/2026
Listed
$650,000
117.39%
MLS
7/12/2018
Sold
$299,000
—
Public Record
Get Price Alerts and Save Property
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 for 318 N Lorel Ave

Year
Property Taxes
Change
Tax Assessment
Change
2023
$6,752
—
$35,000
9%
2023
$6,752
3%
$31,999
—
2022
$6,582
2%
$31,999
—
2021
$6,435
32%
$31,999
46%
2020
$4,869
-2%
$21,855
-12%
2019
$4,990
2%
$24,836
—
2018
$4,906
-28%
$24,836
17%
2017
$6,820
60%
$21,286
—
2016
$4,263
9%
$21,286
—
2015
$3,901
-3%
$21,286
-2%
2014
$4,024
2%
$21,687
—
2013
$3,944
1%
$21,687
—
2012
$3,892
—
$21,687
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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318 N Lorel Avenue, Chicago, IL 60644 (MLS# 12732359) is a Multi-Family property with 4 units containing 12 bedrooms and 0 full bathrooms. 318 N Lorel Avenue is currently listed for $650,000 and was received on August 13, 2026. Want to learn more about 318 N Lorel Avenue? Do you have questions about finding other Multi-Family real estate for sale in Austin? You can browse all Austin real estate or contact a Coldwell Banker agent to request more information.

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