719 N 14th Ave Melrose Park, IL 60160

Rare opportunity to own two homes for the price of one in a prime Melrose Park location-perfect for owner-occupants, investors, or multi-generational living! Competitively priced, this unique property offers flexibility, strong income potential, and exceptional value. The main home (719 N 14th Ave) was fully renovated and thoughtfully redesigned with walls opened to create a bright, inviting open floorplan. Featuring some Anderson windows, newer HVAC, luxury vinyl flooring, and quality finishes throughout, this home offers 3 bedrooms plus a potential bonus room in the finished basement, along with 2 full bathrooms. The updated kitchen is a standout with white shaker cabinetry, quartz countertops, newer stainless steel appliances, and a walk-in pantry, flowing seamlessly into the dining area. The cozy yet spacious family room is filled with natural light and anchored by a fireplace. This floor contains 3 spacious bedrooms, one with 8 foot ceilings and direct access to the side deck-ideal for entertaining. The finished basement adds significant living space, complete with a family room, office, wet bar area, full bathroom, laundry area, storage, and bonus room-perfect for a home office, guest space, or gym. Outside, enjoy a shared backyard with patio space and playground equipment, plus an unattached 1-car garage and an extra-long driveway accommodating up to 7 vehicles. Situated on a corner lot, the property offers abundant parking and accessibility. The coach house (1312 Rice St) adds incredible value and versatility. Recently refreshed with new flooring and fresh paint, this separate residence offers a comfortable and functional layout including a welcoming family room, dedicated dining area, office area, laundry room with sink, and an inviting kitchen. Upstairs, you'll find 2 bedrooms and a full bathroom, creating a private and well-separated living space. The primary suite has hardwood floors, 3 closets, and is drenched with light. The coach house also features a long driveway with additional side and alley parking options, making it ideal for tenants or extended family. With no basement, the layout remains simple and efficient. Please view floorplan for more details. Income potential is immediate and strong-the coach house is currently rented through March 1, 2027, providing stable, long-term income, while the main home lease ends on August 1, 2026, offering flexibility for owner occupancy or rental adjustment. Whether you're looking to live in one home and rent the other, generate dual rental income, or accommodate extended living needs, this property delivers unmatched flexibility and value in today's market. Opportunities like this are rare-don't miss your chance to secure a truly unique, income-generating property!