This brick 3-flat plus coach house at 2327 N. Southport in Lincoln Park has been on the market since June 2011.
In that time, it has been under contract once and has been reduced $125,000 to just $520,000.
Built in 1886 on a 24×124 lot, the building still has some of its vintage features such as the original cast iron tubs and built-in hutches.
The units are as follows:
- Unit #1: 1 bedroom, 1 bath and rents for $900 a month
- Unit #2: 1 bedroom, 1 bath and rents for $940 a month
- Unit #3: 1 bedroom, 1 bath and rents for $940 a month
- Unit #4: 1 bedroom, 1 bath and rents for $840 a month
Tenants pay separate electric and gas. There is no parking.
The taxes are $24,442 which the listing says are currently being appealed.
With income of $43,400 a year, does this building make sense as an investment at this price given its location near DePaul?
What about as a possible single family home conversion?
Oleg Trifonov at Coldwell Banker has the listing. See the pictures here.
2327 N. Southport: 3-flat plus coach house
- I couldn’t find an original sales price
- Originally listed in June 2011 for $645,000
- Reduced several times
- Under contract once
- Currently listed at $520,000
- Taxes of $24,442
- No mention of central air
- No parking