3501 W Palmer Street, Chicago, IL 60647 - Photo 1

1/1

$763,000

Sold
Closed
Multi-Family
9 Total Beds

1/1

Property Description

Legal-4 unit building in an appreciating corridor of Logan Square with significant cash flow in-place. The building sits immediately west of Palmer Square and Kedzie Boulevard with recent, nearby new build single-family home sales under contract near $1.5 million. The existing rent roll comprises $84,120 of revenue or a 9.2x gross revenue multiple on in-place income. Additional revenue can be creted by (i) marking the existing rent roll to market, (ii) adding a parking slab with three exterior stalls at the rear of the building, and (iii) creating a small outdoor garden/amenity area in the existing gravel yard at rear. This value-add is projected to result in $96,200 of revenue or a stabilized 7.8x GRM, roughly a 10.0% return-on-cost. All units have furnaces and the large 4 bed / 1 bath duplex has central air conditioning.

Full Property Details

Full Property Details for 3501 W Palmer St

General

Sold For: $763,000
Taxes: $5,625 (2023)
Status: Closed
Type: Multi-Family
Source: MRED
MLS ID: 12502469
Added to Site: 81 day(s) ago

Rooms

Bathrooms

Total Bathrooms: 4

Bedrooms

Total Bedrooms: 9

Parking

Total Spaces: 4
Parking Features: Unassigned, Off-Street, Yes, Owned

Location

Area: CHI - Logan Square
County: Cook
Driving Directions: From the intersection at N Kimball Ave & W Fullerton Ave, head south on N Kimball Ave toward W Fullerton Ave. Turn right onto W Palmer St, and the property will be on the left.

School Information

School District: 299
Midd School District: 299

Heating & Cooling

Heating Type: Natural Gas

Utilities

Water: Lake Michigan, Public

Structural Information

Construction: Vinyl Siding
Exterior Const.: Vinyl Siding
Basement Desc.: Crawl Space, Partial
Foundation: Concrete Perimeter
Roof: Asphalt
Year Built: 1897
Built Before 1978: Yes

Unit Information

Units in Building: 4

Lot Features

Lot Size Range: Standard Chicago Lot
Lot Dimensions: 3052 SF
Lot Features: Corner Lot

Financial Considerations

Parking Included: Yes
Assessment Year: 1897
Tax Amount: $5,625.2
Tax Year: 2023

Disclosures and Reports

Ownership: Fee Simple
Property ID: 13352190150000

Listed by Essex 312, LLC
Sold by @properties Christieï¿½s International Real Estate

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— 3501 W Palmer St —

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Schools

Schools serving 3501 W Palmer St

School District:Chicago Public School District 299

Name	Grades	Distance
Mozart Elementary School 2200 North Hamlin Avenue, Chicago, IL 60647	PK-8	0.4 mi
Kelvyn Park High School 4343 West Wrightwood Avenue, Chicago, IL 60639	7-8	1.2 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 3501 W Palmer St

Date

Details

Price

Change

Source

12/18/2025

Sold

$763,000

-2.05%

MLS

10/27/2025

Listed

$779,000

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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3501 W Palmer Street, Chicago, IL 60647 (MLS# 12502469) is a Multi-Family property that was sold at $763,000 on December 18, 2025. Want to learn more about 3501 W Palmer Street? Do you have questions about finding other Multi-Family real estate for sale in Logan Square? You can browse all Logan Square real estate or contact a Coldwell Banker agent to request more information.

3501 W Palmer St Chicago, IL 60647