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31734254
31738636

3941 N Spaulding Ave, Chicago, IL 60618

SP
Compass
Listed by Compass
$1,249,000
48 days on market
Updated 38 days ago

Irving Park 2 flat

Details
Property Type Multifamily
Sub Type Apartment Building
Units 2
Pro-Forma Cap Rate 5.83%
Pro-Forma NOI $72,793
Year Built 1915
Year Renovated 2026
Buildings 1
Stories 2
Lot Size (SqFt) 3,750

Multifamily | 2 Units | $624,500/unit

Marketing description

Turnkey, fully gut-renovated brick 2-flat in the heart of Irving Park—rebuilt down to the masonry for long-term durability and minimal near-term capital expenditures.

The property features two oversized units with highly desirable layouts and separately metered systems, including brand new plumbing, electrical and HVAC. The duplex-down offers 4 bedrooms and 3.1 baths with multiple living areas and a fully excavated lower level with excellent ceiling height—positioned to command premium rents. The second-floor unit delivers a strong 3 bed / 2 bath layout, ideal for stable tenancy and consistent income.

Both units are outfitted with modern, low-maintenance finishes including engineered hardwood flooring, quartz countertops, stainless steel appliances, and contemporary baths—features that attract quality tenants and reduce ongoing upkeep.

Separate, spacious living environments appeal to a wide renter pool, from larger households to work-from-home professionals, supporting strong occupancy and rent resilience.

Located in Irving Park with close proximity to neighborhood retail, dining, parks, and public transit—an area known for steady rental demand and long-term growth.

Ideal for investors seeking a stabilized, low-maintenance asset with immediate income potential, as well as owner-occupants looking to offset their mortgage with significant rental revenue.

Listing Contacts

SP
Compass
Listed by Compass

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