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$509,000
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Property Description
Bring your vision to this legal 2 unit, with basement option, on a 35x126 lot offering a rare opportunity to create your dream residence or investment property. This large property with great bones is truly a blank canvas, ideal for buyers, builders, or investors looking to customize and add value. Generous room sizes and flexible floor plans featuring a 3 bedroom, 2 bath first floor unit and a 2 bedroom, 1 bath second floor unit, complete with a 3 car garage for ample parking and storage. The lower level has 8' ceilings and another 2 bedroom, 1 bathroom unit. Building hasn't been renovated in awhile, but with improvements can bring in strong rents. Located in the desirable Portage Park/Dunning area, this home is surrounded by neighborhood conveniences including Shabbona Park, local restaurants, coffee shops, grocery stores, and shopping along Irving Park Road and Milwaukee Avenue. Enjoy easy access to public transportation with nearby CTA bus routes and the CTA Blue Line just minutes away for a convenient commute downtown or to O'Hare. Quick access to the Kennedy Expressway makes travel throughout the city and suburbs a breeze. An exceptional opportunity to renovate, redesign, and make this home your own in a well-established neighborhood.
Full Property Details
Full Property Details for 5040 W Patterson Ave
General
- Sold For: $509,000
- Taxes: $5,038 (2024)
- Status: Closed
- Type: Multi-Family
- Source: MRED
- MLS ID: 12565253
- Added to Site: 58 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 4
Bedrooms
- Total Bedrooms: 7
Parking
- Garage: Yes
- Garage Spaces: 3
- Total Spaces: 3
- Parking Features: Garage Door Opener, Yes, Garage Owned, Detached, Garage
Location
- Area: CHI - Portage Park
- County: Cook
- Driving Directions: Cicero(4800W) to Patterson Ave (3700N), west to 5040 W Patterson Ave.
School Information
- School District: 299
- Midd School District: 299
- Elementary School: Gray Elementary School
- Middle School: Gray Elementary School
Heating & Cooling
- Heating Type: Steam, Radiant
Utilities
- Water: Lake Michigan
Structural Information
- Construction: Other
- Exterior Const.: Other
- Basement Desc.: Partially Finished, Full
- Year Built: 1913
- Built Before 1978: Yes
Unit Information
- Units in Building: 3
Lot Features
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 35 x 126
Financial Considerations
- Parking Included: Yes
- Assessment Year: 1913
- Tax Amount: $5,038.73
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 13212250220000
Listed by Compass
Sold by Prosales Realty
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Schools
Schools serving 5040 W Patterson Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Gray Elementary School 3730 North Laramie Avenue, Chicago, IL 60641 | PK-8 | 0.2 mi |
Schurz High School 3601 North Milwaukee Avenue, Chicago, IL 60641 | 9-12 | 1 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 5040 W Patterson Ave
Date
Details
Price
Change
Source
3/25/2026
Sold
$509,000
1.82%
MLS
2/10/2026
Listed
$499,900
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
5040 W Patterson Avenue, Chicago, IL 60641 (MLS# 12565253) is a Multi-Family property that was sold at $509,000 on March 25, 2026. Want to learn more about 5040 W Patterson Avenue? Do you have questions about finding other Multi-Family real estate for sale in Portage Park? You can browse all Portage Park real estate or contact a Coldwell Banker agent to request more information.

