$785,000
$799,900
1.9%For more information regarding the value of a property, please contact us for a free consultation.
4624 N Springfield AVE Chicago, IL 60625
7 Beds
3 Baths
3,049 Sqft Lot
Key Details
Sold Price $785,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12495167
Sold Date 11/20/25
Bedrooms 7
Year Built 1908
Annual Tax Amount $5,082
Tax Year 2023
Lot Size 3,049 Sqft
Lot Dimensions 25X125
Property Sub-Type Two to Four Units
Property Description
Be captivated by this move-in ready, vacant prime Albany Park 3-flat-a rare investment opportunity! This renovated legal 3-flat is a true gem located on a charming tree-lined street in Albany Park, a vibrant neighborhood celebrated for its cultural diversity, thriving local dining scene, walkable streets, and convenient access to top-rated schools, parks, and public transit. Unit 1 and Unit 2 each offer three bedrooms, with the third bedroom providing flexible space perfect for a home office, nursery, or guest room. Unit 3 is a modern, oversized one-bedroom with versatile flex space that accommodates a spacious living room, dining area, additional storage, and a king-sized bedroom. The property includes 2022 appliances and in-unit washer/dryers in all three units, a 2023 tear-off roof, a 2025 concrete subfloor with vapor barrier in Unit 1, updated electrical and plumbing throughout, closed-cell attic insulation, new copper water service from the street replacing old lead lines, and a brand-new deck on the 3rd floor. Perfect for investors, owner-occupants seeking income, or multi-generational buyers, this rare legal 3-flat offers both modern updates and long-term appeal in a neighborhood where such opportunities are hard to secure-schedule your private tour today! Investor special with strong fundamentals. Total rental income of 7,150/month including garage (85,800 annually). Market-standard expenses of approximately $25,000 produce an NOI of about 60,800, supporting a 7.6 cap rate at the $799,000 list price and a GRM of 9.3. Conservative underwriting includes vacancy, management, and reserves for stability, with modest rent growth offering a pro forma cap rate near 8.5. Strong cash flow and attractive value compared to market averages.
Location
State IL
County Cook
Area Chi - Albany Park
Zoning MULTI
Rooms
Basement None
Interior
Heating Natural Gas
Equipment CO Detectors, Ceiling Fan(s), Multiple Water Heaters, Water Heater-Gas
Fireplace N
Exterior
Garage Spaces 2.0
Roof Type Asphalt
Building
Building Description Vinyl Siding, No
Sewer Public Sewer
Water Lake Michigan
Structure Type Vinyl Siding
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition None
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© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Joe Gallagher of Baird & Warner
NEARBY SCHOOLS & BUSINESSES
- 10
Solomon Elementary School
Public | PK - 8
- 9
Edgebrook Elementary School
Public | KG - 8
- 9
Fairview South Elementary School
Public | PK - 8
- 9
Sauganash Elementary School
Public | KG - 8
- 9
Disney II Elementary School
Public | PK - 6
- 9
Edison Elementary Regional Gifted Center
Public | KG - 8
- 9
Decatur Classical Elementary School
Public | KG - 6
- 9
Stone Elementary Scholastic Academy
Public | KG - 8
- 8
Beaubien Elementary School
Public | PK - 8
- 8
West Ridge Elementary School
Public | PK - 8
- 8
Bell Elementary School
Public | KG - 8
- 8
Coonley Elementary School
Public | PK - 8
- 7
Farnsworth Elementary School
Public | PK - 8
- 7
Rutledge Hall Elementary School
Public | 3 - 5
- 7
Garcia Lorca Elementary School
Public | KG - 8
- 7
Von Linne Elementary School
Public | KG - 8
- 7
Jamieson Elementary School
Public | KG - 8
- 7
Budlong Elementary School
Public | KG - 8
- 7
Chappell Elementary School
Public | PK - 8
- 6
Reinberg Elementary School
Public | PK - 8
- 10
Lincoln Hall Middle School
Public | 6 - 8
- 10
Lane Technical High School
Public | 7 - 12
- 4
Disney II Magnet High School
Public | 7 - 9
- 4
Albany Park Multicultural Academy
Public | 7 - 8
- 2
Northwest Middle School
Public | 6 - 8
- 1
Kelvyn Park High School
Public | 7 - 12
- 0
T. Marshall Middle School
Public | 7 - 8
- 10
Northside College Preparatory High School
Public | 9 - 12
- 10
Devry Advantage Academy High School
Public | 11 - 12
- 7
Von Steuben Metro Science High School
Public | 9 - 12
- 5
Mather High School
Public | 9 - 12
- 3
Schurz High School
Public | 9 - 12
- 1
Foreman High School
Public | 9 - 12
- 1
Roosevelt High School
Public | 9 - 12
- 0
Luther North College Preparatory
Private | 9 - 12
- 0
Vaughn Occupational High School
Public | 9 - 12
- 0
Lydia Urban Academy
Private | 9 - 12
- 0
Antonia Pantoja High School
Private | 10 - 12
- 0
Northside Learning Center
Public | 9 - 12
- 0
Yeshivas Meor Hatorah of Chicago
Private | 9 - 11
- 0
Telshe High School
Private | 9 - 12
- 0
Bais Yaakov High School
Private | 9 - 12
- 0
Lubavitch Girls High School
Private | 9 - 12
- 0
Pathways in Education Avondale High School
Public | 9 - 12
- 0
Hanna Sacks Bais Yaakov High School
Private | 9 - 12
- 0
Bnos Rabbeinu High School
Private | 10 - 12
- 0
Ida Crown Jewish Academy
Private | 9 - 12
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