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$513,000
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Property Description
Turnkey 3-unit in Humboldt Park perfect for house-hacking or a savvy investor: the renovated garden 3BD/1BA rents for $1,700/mo via CHA, the 1st-floor 4BD/2BA (excellent condition) is a long-term CHA tenant at $2,281/mo, and the refreshed top-floor "penthouse" with a balcony is vacant and ready for an owner-occupant-let your tenants' $3,981/mo total income help offset your payment. At the current tax basis, well-qualified buyers may see PITI just under $4,000/mo (buyer to verify), making this building nearly pay for itself. Private on-site parking offers added revenue potential, and the coin- & card-operated laundry creates steady ancillary income. All this in a thriving location steps from the namesake 219-acre park and lagoon, close to the 606 Trail, California/Armitage dining, Division Street's cultural corridor, cafes, nightlife, and transit-surrounded by new construction and quality rehabs. A rare opportunity to live on the top floor, build equity, and enjoy one of Chicago's most exciting neighborhoods!
Full Property Details
Full Property Details for 545 N Drake Ave
General
- Sold For: $513,000
- Taxes: $2,963 (2023)
- Status: Closed
- Type: Multi-Family
- Source: MRED
- MLS ID: 12475423
- Added to Site: 120 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 5
Bedrooms
- Total Bedrooms: 10
Parking
- Total Spaces: 2
- Parking Features: Off-Alley, Yes, Owned
Location
- Area: CHI - Humboldt Park
- County: Cook
- Driving Directions: Chicago Ave to Drake, south to property
School Information
- School District: 299
- Midd School District: 299
Heating & Cooling
- Heating Type: Natural Gas, Forced Air
Utilities
- Water: Lake Michigan, Public
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Basement Desc.: Finished, Exterior Entry, Full, Walk-Out Access
- Year Built: 1890
- Built Before 1978: Yes
- Remodeled/Updated: 2025
Unit Information
- Units in Building: 3
Lot Features
- Lot Size (Acres): 0.07
- Lot Size Range: Less than .25 Acre
- Lot Dimensions: 25 x 125
- Zoning: MULTI
Financial Considerations
- Parking Included: Yes
- Assessment Year: 1890
- Tax Amount: $2,963
- Tax Year: 2023
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 16112170020000
Listed by Straight-A Realty, LLC
Sold by Compass
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Schools
Schools serving 545 N Drake Ave
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Ward L Elementary School 646 North Lawndale Avenue, Chicago, IL 60624 | PK-8 | 0.3 mi |
Orr Academy High School 730 North Pulaski Road, Chicago, IL 60624 | 9-12 | 0.6 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 545 N Drake Ave
Date
Details
Price
Change
Source
12/05/2025
Sold
$513,000
-10.78%
MLS
9/18/2025
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.
545 N Drake Avenue, Chicago, IL 60624 (MLS# 12475423) is a Multi-Family property that was sold at $513,000 on December 05, 2025. Want to learn more about 545 N Drake Avenue? Do you have questions about finding other Multi-Family real estate for sale in Humboldt Park? You can browse all Humboldt Park real estate or contact a Coldwell Banker agent to request more information.

