Closed

$575,000

545 Drake Avenue, Chicago, IL 60624
10 Beds5 Baths37 days
545 Drake Avenue·Chicago, IL 60624
10Bedrooms
5Bathrooms
1890Year Built
About This Home

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!

MLS# 12475423Listed September 18, 2025Residential Income
Property Details

Beds & Baths

Total Bedrooms10
Total Bathrooms5
Total Rooms31

Size & Structure

Year Built1890
Lot Size0.070 acres

Location

CountyCook
TownshipWest Chicago
Zip Code60624

Financial

List Price$575,000
Annual Taxes (2023)$2,963
Monthly Tax Est.$247
Parcel #16112170020000
Interior Features

Heating

Natural GasForced Air

Basement

FinishedExterior EntryFullWalk-Out Access
Exterior & Lot

Construction

Brick
Utilities & Parking

Sewer

Public Sewer

Water Source

Lake MichiganPublic

Parking

Off AlleyYesOwned
Tax & Financial
Annual Taxes
$2,963
Tax Year 2023
Monthly Tax Est.
$247
per month
Property Location

545 Drake Avenue, Chicago, IL 60624 — Cook County

$575,000
545 Drake Avenue
10 bd5 ba
VL
Vittoria Logli
Top Glenview Agent

IL License 475.178467 · (847) 810-8438

Quick Facts
37 days on market
0.070 acres
$2,963/yr taxes
$3,269
estimated monthly payment
Principal & Interest
$3,022/mo
Property Tax
$247/mo
$575,000
20% — $115,000
3%50%
6.875%
3%12%
Loan Amount
$460,000
Down Payment
$115,000

* Estimated payment only. Actual rates, taxes, and insurance may vary. Contact a lender for a personalized quote.

Listed by
Straight-A Realty, LLC
Agent: Michael Applegate
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Listing Courtesy: MRED as distributed by MLS GRID | @properties Christie's International Real Estate

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