This is a prime investment opportunity in University Village/Little Italy, located just a block from the UIC campus. Unit 3N is a spacious 3-bedroom, 2-bath condo with 1, 300 square feet of living space. The unit features premium finishes such as granite countertops, a fireplace, a pantry, and a charming Juliet balcony, all within an all-brick, Flexicore building with a newer roof. A parking space is also included. Currently rented to UIC students for $2, 550 per month, this property provides reliable cash flow with a lease in place until July 31, 2025. Tenants pay all utilities, ensuring consistent and predictable income with minimal operating expenses. The unit's location near UIC ensures high demand, making it easy to rent year after year, and its proximity to local amenities adds to its appeal for both students and professionals. This is a turnkey investment requiring no immediate work, as the property is already tenant-occupied and income-producing. For investors looking to expand their portfolio, the adjacent Unit 3S, owned by the same seller, is also available for purchase. This presents a unique opportunity to secure two income-generating properties in a sought-after rental market.
Property Features
Bedrooms
- Bedrooms: 3
- Bedrooms Possible: 3
- Primary Bedroom Dimensions: 10 x 14
- Bedroom 2 Dimensions: 10 x 13
- Bedroom 3 Dimensions: 10 x 11
- Primary Bedroom Level: Main
- Bedroom 2 Level: Main
- Bedroom 3 Level: Main
Other Rooms
- Total Rooms: 6
- Living Room Dimensions: 17 x 20
- Living Room Level: Main
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 2
Appliances
- Yes
- Laundry Features: Common Area
Heating and Cooling
- Cooling Features: Central Air
- Fireplace Features: Wood Burning
- Heating Features: Natural Gas, Forced Air
- Number of Fireplaces: 1
Kitchen and Dining
- Dining Area Level: Main
- Kitchen Dimensions: 8 x 10
- Kitchen Level: Main
Manufactured and Mobile Info
Garage and Parking
- Parking Features: Assigned
- Parking Total: 1
Homeowners Association
- Association: Yes
- Association Amenities: Coin Laundry
- Association Fee: 280
- Association Fee Frequency: Monthly
- Association Fee Includes: Water, Parking, Insurance, Exterior Maintenance, Scavenger, Snow Removal
- Calculated Total Monthly Association Fees: 280
School Information
- Elementary School District: 299
- High School District: 299
Other Property Info
- Annual Tax Amount: 6614.35
- Source Listing Status: Active
- County: Cook
- Directions: Taylor to Miller north to address
- Tax Year: 2023
- Ownership: Condo
- Source Property Type: Residential
- Property Subtype: condo
- Parcel Number: 17174200621007
- Township: West Chicago
- Management Company: Group Management
- Property Subtype: Attached Single
- Source System Name: C2C
Building and Construction
- Total Square Feet Living: 1300
- Year Built: 1988
- Property Age: 37
- Roof: Asphalt
- Levels or Stories: 4
- Structure Type: Condo, Mid Rise (4-6 Stories)
Utilities
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water Source: Lake Michigan