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    1808 S Drake Ave Chicago, IL 60623

    For Sale
    $499,500

    Residential Income - Chicago, IL

    Lot size:
    0.08 Acres
    Days on Market:
    31
    Last Refresh:
    Dec 10 at 3:06 pm

    Property Features for 1808 S Drake Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    11
    APN
    16234000710000
    Parking
    2
    Lot size
    0.08 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1908
    Roof type
    Asphalt
    Architectural style
    Other

    David Jaracz (773) 710-4376 [email protected]

    Listing agent David Jaracz (773) 710-4376 License #471019217

    Listing date Nov 10, 2025

    MLS# 12514877 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Chicago Multi-Unit Investment Opportunity

    This residential income property in Chicago, Illinois, presents an investment opportunity. The property is a three-unit building that is fully occupied. Each tenant is responsible for their own utilities. All three units have new furnaces and water heaters. The first and second floors each feature four bedrooms and one bathroom, with wood floors throughout, and were remodeled in 2019. The garden unit includes three bedrooms and one bathroom and was fully remodeled within the past few years. A coin-operated laundry is located in the basement for building residents. The property is fenced and includes two parking spots. The lot size is 0.08 acres. The property is zoned MULTI.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7142821
    Latitude
    41.856843

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    FAQs

    What type of property is this?
    Apartment building - Three-unit building in Chicago, fully occupied, low taxes.
    Where is this apartment building located?
    The property is located at 1808 S Drake Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $499,500.
    What are key features of this property?
    This property features: - Fully occupied 3-unit building, ideal for investors.; - Tenants pay all utilities separately.; - All 3 units have new furnaces and water heaters.
    (773) 710-4376
    Request Owner's contact information
    1808 S Drake Ave Chicago, IL 60623
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    Chicago, IL 60623
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1808 S Drake Ave Chicago, IL 60623
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